Camtek (NASDAQ:CAMT) Downgraded by Bank of America to "Neutral"

Key Points

• Camtek was downgraded by Bank of America from a "buy" rating to "neutral," with a price target set at $95.00, indicating a potential upside of 15.64% from its current price.
• The stock fell 7.0% on Wednesday, bringing its trading price down to $82.15, following analysts’ mixed ratings and adjustments to price targets.
• Camtek reported a quarterly revenue of $123.32 million, exceeding consensus estimates, and earnings per share of $0.79, in line with expectations.

Camtek (NASDAQ:CAMT - Get Free Report) was downgraded by investment analysts at Bank of America from a "buy" rating to a "neutral" rating in a note issued to investors on Wednesday,Finviz reports. They presently have a $95.00 price target on the semiconductor company's stock. Bank of America's price objective would indicate a potential upside of 15.64% from the company's current price.

CAMT has been the subject of several other research reports. Evercore ISI raised their price target on Camtek from $82.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday. Needham & Company LLC lifted their target price on Camtek from $80.00 to $98.00 and gave the stock a "buy" rating in a report on Tuesday. Jefferies Financial Group set a $105.00 target price on Camtek and gave the stock a "buy" rating in a report on Tuesday. Barclays decreased their target price on Camtek from $120.00 to $85.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Finally, Stifel Nicolaus lifted their target price on Camtek from $84.00 to $98.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Camtek presently has a consensus rating of "Moderate Buy" and an average target price of $96.10.

Camtek Stock Down 7.0%

CAMT traded down $6.20 on Wednesday, hitting $82.15. The company had a trading volume of 155,029 shares, compared to its average volume of 474,337. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.27 and a current ratio of 5.28. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of 31.54, a P/E/G ratio of 2.64 and a beta of 1.31. The stock has a fifty day moving average price of $83.67 and a 200-day moving average price of $75.80. Camtek has a 12-month low of $47.41 and a 12-month high of $110.73.

Camtek (NASDAQ:CAMT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The semiconductor company reported $0.79 earnings per share for the quarter, hitting the consensus estimate of $0.79. The business had revenue of $123.32 million during the quarter, compared to the consensus estimate of $121.57 million. Camtek had a return on equity of 24.57% and a net margin of 28.40%. The company's quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the company earned $0.66 earnings per share. Analysts predict that Camtek will post 2.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Camtek

Several large investors have recently bought and sold shares of the stock. HBK Sorce Advisory LLC boosted its position in shares of Camtek by 1.4% in the 2nd quarter. HBK Sorce Advisory LLC now owns 8,645 shares of the semiconductor company's stock valued at $731,000 after purchasing an additional 121 shares during the period. Cetera Investment Advisers lifted its position in Camtek by 3.3% during the 4th quarter. Cetera Investment Advisers now owns 5,288 shares of the semiconductor company's stock worth $427,000 after acquiring an additional 171 shares during the period. Advisors Asset Management Inc. lifted its position in Camtek by 61.6% during the 1st quarter. Advisors Asset Management Inc. now owns 769 shares of the semiconductor company's stock worth $45,000 after acquiring an additional 293 shares during the period. Blue Trust Inc. lifted its position in Camtek by 9.0% during the 1st quarter. Blue Trust Inc. now owns 4,237 shares of the semiconductor company's stock worth $248,000 after acquiring an additional 351 shares during the period. Finally, Geode Capital Management LLC lifted its position in Camtek by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 39,117 shares of the semiconductor company's stock worth $3,159,000 after acquiring an additional 360 shares during the period. Hedge funds and other institutional investors own 41.93% of the company's stock.

About Camtek

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.

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