Camtek (NASDAQ:CAMT) Stock Price Target Lowered at B. Riley Financial

Key Points

• B. Riley cut its Camtek price target to $138 from $166 but maintained a Buy rating, implying 33.58% upside from the stock’s current price.
• Analyst views are mixed: MarketBeat reports a consensus Hold rating and $164 price target, with seven Buy, six Hold, and one Sell rating.
• Camtek’s latest quarter met EPS expectations at $0.99 and slightly exceeded revenue forecasts at $161.29 million; revenue increased 28% year over year.

Camtek (NASDAQ:CAMT - Get Free Report) had its price target cut by analysts at B. Riley Financial from $166.00 to $138.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a "buy" rating on the semiconductor company's stock. B. Riley Financial's price target would suggest a potential upside of 33.58% from the stock's current price.

CAMT has been the topic of a number of other reports. Cantor Fitzgerald reissued a "neutral" rating and issued a $175.00 price target on shares of Camtek in a research note on Tuesday, September 22nd. Stifel Nicolaus set a $140.00 target price on shares of Camtek in a report on Wednesday. Weiss Ratings reiterated a "hold (c)" rating on shares of Camtek in a report on Tuesday, August 11th. Morgan Stanley lowered Camtek from an "equal weight" rating to an "underweight" rating and cut their target price for the company from $152.00 to $126.00 in a research report on Monday, November 2nd. Finally, Needham & Company LLC decreased their price target on Camtek from $170.00 to $130.00 and set a "buy" rating on the stock in a research note on Wednesday, November 4th. Seven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Camtek currently has a consensus rating of "Hold" and a consensus price target of $164.00.

Camtek Stock Performance

Shares of Camtek stock opened at $103.31 on Monday. Camtek has a 52 week low of $89.13 and a 52 week high of $215.99. The business's fifty day simple moving average is $136.75 and its 200-day simple moving average is $156.05. The firm has a market cap of $4.82 billion, a PE ratio of 38.73, a price-to-earnings-growth ratio of 1.43 and a beta of 1.69. The company has a quick ratio of 5.18, a current ratio of 5.85 and a debt-to-equity ratio of 0.65.

Camtek (NASDAQ:CAMT - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The semiconductor company reported $0.99 earnings per share for the quarter, hitting analysts' consensus estimates of $0.99. Camtek had a return on equity of 21.38% and a net margin of 24.56%. The business had revenue of $161.29 million during the quarter, compared to analysts' expectations of $160.36 million. During the same period in the prior year, the business posted $0.82 EPS. The company's revenue was up 28.0% compared to the same quarter last year. Equities analysts forecast that Camtek will post 3.27 earnings per share for the current year.

Insider Activity

In related news, Director Karni Yarl Andorn sold 3,176 shares of the business's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $164.40, for a total transaction of $522,134.40. Following the completion of the transaction, the director owned 1,343 shares in the company, valued at approximately $220,789.20. The trade was a 70.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Rafi Amit sold 6,250 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $9,438,282. This represents a 10.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 26,843 shares of company stock valued at $4,514,249. Insiders own 79.40% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Camtek by 15.6% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,060,896 shares of the semiconductor company's stock worth $475,204,000 after acquiring an additional 412,500 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Camtek by 38.2% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,302,009 shares of the semiconductor company's stock worth $349,008,000 after purchasing an additional 636,773 shares during the last quarter. Phoenix Financial Ltd. raised its stake in shares of Camtek by 746.3% during the third quarter. Phoenix Financial Ltd. now owns 2,013,214 shares of the semiconductor company's stock worth $311,938,000 after purchasing an additional 1,775,319 shares during the last quarter. Y.D. More Investments Ltd lifted its holdings in shares of Camtek by 20.8% during the first quarter. Y.D. More Investments Ltd now owns 783,365 shares of the semiconductor company's stock worth $114,901,000 after purchasing an additional 134,791 shares during the period. Finally, Swiss National Bank lifted its holdings in shares of Camtek by 1.9% during the first quarter. Swiss National Bank now owns 59,485 shares of the semiconductor company's stock worth $8,711,000 after purchasing an additional 1,085 shares during the period. Hedge funds and other institutional investors own 41.93% of the company's stock.

About Camtek

Camtek Ltd. develops, manufactures and sells inspection and metrology equipment used in semiconductor manufacturing. Its systems help manufacturers detect defects and measure features on wafers and other components, supporting quality control as semiconductor devices become smaller and more complex.

The company's products serve applications including advanced packaging, memory, image sensors and other semiconductor processes. Camtek combines optical inspection hardware with software to analyze production data and identify issues during manufacturing.

Founded in 1987 and headquartered in Migdal HaEmek, Israel, Camtek serves customers in semiconductor manufacturing centers around the world through its international operations and support network.

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