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

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 research analysts at Bank of America from a "buy" rating to a "neutral" rating in a research note issued to investors on Wednesday, MarketBeat.com reports. They currently have a $95.00 target price on the semiconductor company's stock. Bank of America's price target points to a potential upside of 14.27% from the company's current price.

A number of other research firms also recently commented on CAMT. Evercore ISI increased their price objective on shares of Camtek from $82.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday. Stifel Nicolaus increased their price objective on shares of Camtek from $84.00 to $98.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Barclays reduced their price objective on shares of Camtek from $120.00 to $85.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Cantor Fitzgerald set a $80.00 price objective on shares of Camtek and gave the company a "neutral" rating in a research note on Tuesday, June 24th. Finally, Needham & Company LLC increased their target price on shares of Camtek from $80.00 to $98.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $96.10.

Camtek Stock Up 1.9%

Shares of CAMT stock traded up $1.53 on Wednesday, hitting $83.14. The stock had a trading volume of 279,494 shares, compared to its average volume of 441,885. The firm has a market capitalization of $3.79 billion, a price-to-earnings ratio of 30.45, a P/E/G ratio of 2.14 and a beta of 1.31. The stock's 50 day moving average is $84.58 and its 200-day moving average is $75.31. The company has a debt-to-equity ratio of 0.32, a quick ratio of 4.27 and a current ratio of 5.41. Camtek has a 52-week low of $47.41 and a 52-week high of $110.73.

Camtek (NASDAQ:CAMT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The semiconductor company reported $0.79 EPS for the quarter, meeting analysts' consensus estimates of $0.79. Camtek had a net margin of 28.36% and a return on equity of 23.95%. The firm had revenue of $123.32 million for the quarter, compared to the consensus estimate of $121.57 million. During the same period in the prior year, the firm posted $0.66 EPS. The firm's revenue was up 20.2% compared to the same quarter last year. As a group, research analysts expect that Camtek will post 2.93 earnings per share for the current year.

Institutional Trading of Camtek

A number of large investors have recently modified their holdings of CAMT. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Camtek in the 1st quarter worth about $31,000. Advisors Asset Management Inc. increased its holdings in shares of Camtek by 61.6% in 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. Optimum Investment Advisors increased its holdings in shares of Camtek by 60.0% in the 2nd quarter. Optimum Investment Advisors now owns 1,200 shares of the semiconductor company's stock worth $101,000 after acquiring an additional 450 shares during the period. State of Wyoming increased its holdings in shares of Camtek by 146.2% in the 4th quarter. State of Wyoming now owns 2,021 shares of the semiconductor company's stock worth $163,000 after acquiring an additional 1,200 shares during the period. Finally, Petrus Trust Company LTA increased its holdings in shares of Camtek by 12.9% in the 1st quarter. Petrus Trust Company LTA now owns 3,706 shares of the semiconductor company's stock worth $217,000 after acquiring an additional 422 shares during the period. Institutional investors and hedge funds 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.