Needham & Company LLC Increases Camtek (CAMT) Price Target to $8.00

Camtek (NASDAQ:CAMT) had its target price upped by research analysts at Needham & Company LLC from $7.00 to $8.00 in a research note issued to investors on Thursday, Marketbeat reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 28.62% from the company’s previous close.

CAMT has been the subject of several other reports. ValuEngine raised shares of Camtek from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. B. Riley reaffirmed a “buy” rating and issued a $8.00 target price (up from $7.50) on shares of Camtek in a research note on Monday, February 5th. Finally, TheStreet raised shares of Camtek from a “c” rating to a “b” rating in a research note on Thursday, November 9th. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $7.17.

Shares of Camtek (NASDAQ:CAMT) traded down $0.33 during trading on Thursday, hitting $6.22. The company had a trading volume of 209,256 shares, compared to its average volume of 157,232. Camtek has a 1 year low of $3.44 and a 1 year high of $7.96. The firm has a market cap of $222.88, a P/E ratio of 17.28 and a beta of 1.16.

Camtek (NASDAQ:CAMT) last issued its quarterly earnings data on Wednesday, February 7th. The semiconductor company reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.01). Camtek had a return on equity of 16.37% and a net margin of 13.54%. The company had revenue of $25.84 million for the quarter, compared to analyst estimates of $24.50 million. During the same quarter in the prior year, the firm earned $0.02 earnings per share. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. analysts expect that Camtek will post 0.44 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. PEAK6 Investments L.P. grew its stake in Camtek by 632.2% in the 3rd quarter. PEAK6 Investments L.P. now owns 21,444 shares of the semiconductor company’s stock worth $110,000 after acquiring an additional 25,473 shares during the period. JPMorgan Chase & Co. purchased a new stake in Camtek in the 3rd quarter worth approximately $468,000. Navellier & Associates Inc purchased a new stake in Camtek in the 2nd quarter worth approximately $208,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Camtek in the 2nd quarter worth approximately $107,000. 17.36% of the stock is owned by hedge funds and other institutional investors.

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Camtek Company Profile

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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