Needham & Company LLC Has Lowered Expectations for Camtek (NASDAQ:CAMT) Stock Price

Camtek (NASDAQ:CAMT - Get Free Report) had its price objective cut by Needham & Company LLC from $110.00 to $80.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the semiconductor company's stock. Needham & Company LLC's price objective would indicate a potential upside of 21.32% from the stock's previous close.

Several other brokerages have also recently weighed in on CAMT. StockNews.com cut Camtek from a "hold" rating to a "sell" rating in a report on Tuesday. Barclays decreased their price objective on Camtek from $120.00 to $85.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Jefferies Financial Group decreased their price objective on Camtek from $120.00 to $85.00 and set a "buy" rating for the company in a report on Friday, March 28th. Finally, Bank of America cut their target price on shares of Camtek from $105.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $92.44.

Camtek Stock Down 0.9%

CAMT stock traded down $0.57 during trading hours on Wednesday, reaching $65.94. 435,842 shares of the stock were exchanged, compared to its average volume of 569,145. The firm's 50-day moving average is $63.04 and its 200-day moving average is $75.38. The company has a market cap of $3.01 billion, a price-to-earnings ratio of 27.25, a PEG ratio of 1.89 and a beta of 1.36. The company has a debt-to-equity ratio of 0.36, a current ratio of 5.00 and a quick ratio of 4.11. Camtek has a 12 month low of $47.41 and a 12 month high of $140.50.

Camtek (NASDAQ:CAMT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The semiconductor company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.06). Camtek had a net margin of 27.61% and a return on equity of 24.99%. On average, equities research analysts expect that Camtek will post 2.93 earnings per share for the current year.

Institutional Investors Weigh In On Camtek

Hedge funds have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd acquired a new stake in Camtek during the first quarter worth approximately $31,000. Jones Financial Companies Lllp lifted its position in Camtek by 364.0% during the fourth quarter. Jones Financial Companies Lllp now owns 413 shares of the semiconductor company's stock worth $33,000 after acquiring an additional 324 shares during the last quarter. Huntington National Bank lifted its position in Camtek by 42.4% during the fourth quarter. Huntington National Bank now owns 413 shares of the semiconductor company's stock worth $33,000 after acquiring an additional 123 shares during the last quarter. Advisors Asset Management Inc. lifted its position in Camtek by 61.6% during the first 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 last quarter. Finally, State of Wyoming lifted its position in Camtek by 146.2% during the fourth 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 last quarter. 41.93% of the stock is currently 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.