Camtek (NASDAQ:CAMT) Shares Up 9.2% Following Analyst Upgrade

Shares of Camtek Ltd. (NASDAQ:CAMT) traded up 9.2% during mid-day trading on Tuesday after Cantor Fitzgerald raised their price target on the stock from $70.00 to $80.00. Cantor Fitzgerald currently has a neutral rating on the stock. Camtek traded as high as $81.85 and last traded at $81.75. 827,311 shares traded hands during trading, an increase of 49% from the average session volume of 556,316 shares. The stock had previously closed at $74.85.

Other research analysts have also issued reports about the company. Needham & Company LLC cut their price objective on Camtek from $110.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, May 14th. Evercore ISI dropped their price objective on Camtek from $100.00 to $82.00 and set an “outperform” rating on the stock in a report on Wednesday, May 14th. Wall Street Zen raised shares of Camtek from a “sell” rating to a “hold” rating in a research note on Wednesday, May 21st. Bank of America lowered their price objective on Camtek from $105.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Finally, Barclays lowered their price objective on Camtek from $120.00 to $85.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $88.56.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Clal Insurance Enterprises Holdings Ltd lifted its stake in Camtek by 27.8% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,134,671 shares of the semiconductor company’s stock worth $123,622,000 after acquiring an additional 464,671 shares in the last quarter. Menora Mivtachim Holdings LTD. lifted its position in shares of Camtek by 81.8% during the fourth quarter. Menora Mivtachim Holdings LTD. now owns 1,566,433 shares of the semiconductor company’s stock worth $126,521,000 after purchasing an additional 705,000 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Camtek by 27.6% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,448,441 shares of the semiconductor company’s stock worth $84,922,000 after purchasing an additional 312,988 shares in the last quarter. Wasatch Advisors LP lifted its holdings in Camtek by 311.8% during the 4th quarter. Wasatch Advisors LP now owns 1,192,784 shares of the semiconductor company’s stock worth $96,341,000 after buying an additional 903,126 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Camtek by 110.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,015,307 shares of the semiconductor company’s stock worth $59,527,000 after buying an additional 532,944 shares in the last quarter. 41.93% of the stock is currently owned by institutional investors and hedge funds.

Camtek Stock Performance

The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of 31.25, a price-to-earnings-growth ratio of 2.03 and a beta of 1.29. The company has a current ratio of 5.28, a quick ratio of 4.27 and a debt-to-equity ratio of 0.34. The stock’s fifty day simple moving average is $68.32 and its 200-day simple moving average is $74.37.

Camtek (NASDAQ:CAMT) last announced its quarterly earnings data on Tuesday, May 13th. The semiconductor company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.02. The business had revenue of $118.64 million for the quarter, compared to analysts’ expectations of $119.00 million. Camtek had a return on equity of 24.57% and a net margin of 28.40%. The company’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period last year, the firm earned $0.63 earnings per share. Analysts predict that Camtek Ltd. will post 2.93 EPS for the current year.

Camtek Company Profile

Camtek Ltd., together with its subsidiaries, develops, manufactures, and sells inspection and metrology equipment for semiconductor industry. The company provides Eagle-i, a system that delivers 2D inspection and metrology capabilities; Eagle-AP, which addresses the advanced packaging market using software and hardware technologies that deliver superior 2D and 3D inspection and metrology capabilities on the same platform; and Golden Eagle, a panel inspection and metrology system to address the challenges fanout wafer level packaging applications.