Needham & Company LLC Issues Pessimistic Forecast for Camtek (NASDAQ:CAMT) Stock Price

Camtek (NASDAQ:CAMT - Get Free Report) had its price objective cut by analysts at Needham & Company LLC from $110.00 to $80.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the semiconductor company's stock. Needham & Company LLC's price target would suggest a potential upside of 22.81% from the stock's previous close.

A number of other brokerages also recently weighed in on CAMT. Bank of America cut their price objective on Camtek from $105.00 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Barclays lowered their target price on Camtek from $120.00 to $85.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Jefferies Financial Group lowered their target price on Camtek from $120.00 to $85.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Finally, StockNews.com lowered Camtek from a "hold" rating to a "sell" rating in a report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $90.78.

Camtek Stock Down 1.2%

NASDAQ CAMT traded down $0.81 during trading on Wednesday, reaching $65.14. 88,307 shares of the company's stock were exchanged, compared to its average volume of 568,623. Camtek has a fifty-two week low of $47.41 and a fifty-two week high of $140.50. The firm has a market capitalization of $2.97 billion, a PE ratio of 26.92, a P/E/G ratio of 1.89 and a beta of 1.36. The company has a current ratio of 5.00, a quick ratio of 4.11 and a debt-to-equity ratio of 0.36. The company's fifty day simple moving average is $63.04 and its 200-day simple moving average is $75.31.

Camtek (NASDAQ:CAMT - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The semiconductor company reported $0.79 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.02. Camtek had a return on equity of 24.99% and a net margin of 27.61%. The firm had revenue of $118.64 million during the quarter, compared to analyst estimates of $119.00 million. During the same period last year, the company posted $0.63 EPS. The business's quarterly revenue was up 22.3% compared to the same quarter last year. Sell-side analysts predict that Camtek will post 2.93 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CAMT. Caitong International Asset Management Co. Ltd bought a new stake in shares of Camtek during the 1st quarter worth $31,000. Jones Financial Companies Lllp grew its position in shares of Camtek by 364.0% in the 4th quarter. Jones Financial Companies Lllp now owns 413 shares of the semiconductor company's stock worth $33,000 after buying an additional 324 shares during the period. Huntington National Bank grew its position in Camtek by 42.4% during the 4th quarter. Huntington National Bank now owns 413 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 123 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Camtek by 61.6% in the first quarter. Advisors Asset Management Inc. now owns 769 shares of the semiconductor company's stock worth $45,000 after purchasing an additional 293 shares during the last quarter. Finally, State of Wyoming boosted its holdings in shares of Camtek by 146.2% in the fourth quarter. State of Wyoming now owns 2,021 shares of the semiconductor company's stock worth $163,000 after buying an additional 1,200 shares during the last quarter. 41.93% of the stock is owned by institutional investors and hedge funds.

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.