Camtek (NASDAQ:CAMT) Price Target Cut to $152.00 by Analysts at Morgan Stanley

Key Points

• Morgan Stanley cut Camtek’s price target to $152 from $165 while maintaining an “equal weight” rating, implying approximately 3.37% upside from the stock’s $147.05 opening price.
• Analyst sentiment remains moderately positive overall: seven analysts rate Camtek a Buy and seven rate it a Hold, producing a “Moderate Buy” consensus and an average price target of $176.75.
• Camtek exceeded quarterly expectations, reporting $0.78 in EPS versus the $0.76 consensus and $133.24 million in revenue versus $130.44 million expected; revenue increased 8% year over year.

Camtek (NASDAQ:CAMT - Get Free Report) had its price target reduced by equities researchers at Morgan Stanley from $165.00 to $152.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an "equal weight" rating on the semiconductor company's stock. Morgan Stanley's price target points to a potential upside of 3.37% from the stock's current price.

A number of other brokerages also recently issued reports on CAMT. Stifel Nicolaus set a $170.00 price objective on Camtek in a research report on Monday, August 10th. Cantor Fitzgerald reissued a "neutral" rating and set a $175.00 target price on shares of Camtek in a research report on Tuesday, September 22nd. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Camtek in a report on Tuesday, August 11th. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, Camtek has an average rating of "Moderate Buy" and a consensus target price of $176.75.

Camtek Price Performance

NASDAQ:CAMT opened at $147.05 on Monday. Camtek has a one year low of $91.91 and a one year high of $215.99. The company has a debt-to-equity ratio of 0.69, a current ratio of 7.38 and a quick ratio of 6.58. The company has a market cap of $6.86 billion, a PE ratio of 229.77, a P/E/G ratio of 3.17 and a beta of 1.56. The firm's 50 day simple moving average is $147.39 and its 200 day simple moving average is $161.66.

Camtek (NASDAQ:CAMT - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The semiconductor company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.02. The firm had revenue of $133.24 million during the quarter, compared to the consensus estimate of $130.44 million. Camtek had a net margin of 7.40% and a return on equity of 21.58%. The company's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.79 earnings per share. On average, research analysts anticipate that Camtek will post 3.27 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Karni Yarl Andorn sold 3,176 shares of the business's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $164.40, for a total value of $522,134.40. Following the completion of the sale, the director directly owned 1,343 shares of the company's stock, valued at $220,789.20. The trade was a 70.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Rafi Amit sold 6,250 shares of the company's stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $170.52, for a total value of $1,065,750.00. Following the transaction, the chief executive officer directly owned 55,350 shares in the company, valued at approximately $9,438,282. This trade represents a 10.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 26,843 shares of company stock worth $4,514,249 over the last 90 days. 79.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Camtek

A number of large investors have recently modified their holdings of CAMT. EverSource Wealth Advisors LLC increased its holdings in Camtek by 46.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 298 shares of the semiconductor company's stock worth $45,000 after purchasing an additional 95 shares in the last quarter. Lifestyle Asset Management Inc. boosted its position in shares of Camtek by 2.5% during the fourth quarter. Lifestyle Asset Management Inc. now owns 4,764 shares of the semiconductor company's stock valued at $507,000 after buying an additional 115 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of Camtek by 6.0% during the first quarter. NewEdge Advisors LLC now owns 2,072 shares of the semiconductor company's stock valued at $314,000 after buying an additional 117 shares during the last quarter. IFP Advisors Inc grew its holdings in Camtek by 576.7% during the second quarter. IFP Advisors Inc now owns 203 shares of the semiconductor company's stock worth $33,000 after buying an additional 173 shares in the last quarter. Finally, Fifth Third Bancorp purchased a new stake in Camtek in the 1st quarter valued at $42,000. 41.93% of the stock is currently owned by institutional investors.

Camtek Company Profile

Camtek Ltd. NASDAQ: CAMT is an Israel-based semiconductor equipment company that develops, manufactures and sells automated inspection and metrology systems. Its technologies are used to detect defects, measure wafer and package characteristics, and support process control during semiconductor manufacturing and advanced packaging.

The company's product portfolio includes inspection systems for wafers, substrates and semiconductor packages, as well as metrology solutions and related software.

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