Camtek (CAMT) Lowered to “Strong Sell” at Zacks Investment Research

Camtek (NASDAQ:CAMT) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Thursday.

According to Zacks, “Camtek Ltd., designs, develops, manufactures, and markets automatic optical inspection systems and related products. Camtek’s automatic inspection systems are used to enhance both production processes and yield for manufacturers in the printed circuit board industry, the high density interconnect substrate industry and the semiconductor manufacturing and packaging industry. “

Several other research analysts have also weighed in on CAMT. Needham & Company LLC upped their target price on Camtek from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Thursday. B. Riley reaffirmed a “buy” rating and issued a $8.00 target price (up from $7.50) on shares of Camtek in a research report on Monday. ValuEngine raised Camtek from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, TheStreet raised Camtek from a “c” rating to a “b” rating in a research report on Thursday, November 9th. One research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $7.17.

Shares of Camtek (NASDAQ CAMT) traded down $0.37 during mid-day trading on Thursday, reaching $6.55. The company’s stock had a trading volume of 226,397 shares, compared to its average volume of 177,510. Camtek has a 12 month low of $3.44 and a 12 month high of $7.96. The firm has a market cap of $234.19, a price-to-earnings ratio of -327.50 and a beta of 1.15.

Camtek (NASDAQ:CAMT) last issued its earnings results on Wednesday, February 7th. The semiconductor company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). Camtek had a return on equity of 15.68% and a net margin of 12.61%. The firm had revenue of $25.84 million during the quarter, compared to analyst estimates of $24.50 million. During the same period in the previous year, the company earned $0.02 earnings per share. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. sell-side analysts forecast that Camtek will post 0.38 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. PEAK6 Investments L.P. increased its holdings in shares of Camtek by 632.2% during the 3rd quarter. PEAK6 Investments L.P. now owns 21,444 shares of the semiconductor company’s stock valued at $110,000 after acquiring an additional 25,473 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Camtek during the 3rd quarter valued at about $468,000. Navellier & Associates Inc acquired a new position in shares of Camtek during the 2nd quarter valued at about $208,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Camtek during the 2nd quarter valued at about $107,000. 17.36% of the stock is currently owned by institutional investors and hedge funds.

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About Camtek

Camtek Ltd is an Israel-based manufacturer of metrology and inspection equipment and a provider of software solutions. The Company mainly serves the Advanced Packaging, Memory, Complementary Metal Oxide Semiconductor (CMOS) Image Sensors, Micro Electro Mechanical Sensor (MEMS), Radio Frequency (RF) and other segments in the mid end of the semiconductors industry.

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