Camtek (NASDAQ:CAMT) Price Target Raised to $98.00 at Needham & Company LLC

Key Points

• Needham & Company LLC has raised Camtek's price target to $98.00, indicating a potential upside of 10.92% from the stock's previous close.
• Analysts have generally favorable views on Camtek, with a consensus rating of "Moderate Buy" and an average target price of $92.80.
• Camtek's recent quarterly earnings reported a revenue of $123.32 million, exceeding analysts' estimates and reflecting a year-over-year growth of 20.2%.

Camtek (NASDAQ:CAMT - Get Free Report) had its target price hoisted by Needham & Company LLC from $80.00 to $98.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the semiconductor company's stock. Needham & Company LLC's price objective would suggest a potential upside of 17.87% from the company's previous close.

A number of other brokerages have also issued reports on CAMT. Bank of America cut their price target on shares of Camtek from $105.00 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Wall Street Zen raised Camtek from a "sell" rating to a "hold" rating in a report on Wednesday, May 21st. Barclays decreased their target price on Camtek from $120.00 to $85.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Oppenheimer assumed coverage on shares of Camtek in a research note on Wednesday, July 2nd. They set an "outperform" rating and a $100.00 target price on the stock. Finally, Jefferies Financial Group boosted their price objective on Camtek from $85.00 to $105.00 and gave the stock a "buy" rating in a research note 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $96.10.

Camtek Stock Up 1.9%

Camtek stock traded up $1.53 during mid-day trading on Tuesday, reaching $83.14. 279,494 shares of the company were exchanged, compared to its average volume of 441,885. The company has a debt-to-equity ratio of 0.32, a quick ratio of 4.27 and a current ratio of 5.41. The firm has a market cap of $3.79 billion, a P/E ratio of 30.45, a PEG ratio of 2.14 and a beta of 1.31. The business has a fifty day moving average of $84.58 and a 200 day moving average of $75.31. Camtek has a 12-month low of $47.41 and a 12-month high of $110.73.

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

Institutional Trading of Camtek

Several institutional investors have recently added to or reduced their stakes in the business. HBK Sorce Advisory LLC grew its holdings 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 worth $731,000 after acquiring an additional 121 shares during the last quarter. Cetera Investment Advisers increased its position in Camtek by 3.3% during the fourth quarter. Cetera Investment Advisers now owns 5,288 shares of the semiconductor company's stock worth $427,000 after buying an additional 171 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Camtek by 0.7% in the second quarter. Geode Capital Management LLC now owns 39,420 shares of the semiconductor company's stock valued at $3,333,000 after purchasing an additional 279 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Camtek by 61.6% during the first quarter. Advisors Asset Management Inc. now owns 769 shares of the semiconductor company's stock valued at $45,000 after buying an additional 293 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in Camtek by 9.0% in the 1st quarter. Blue Trust Inc. now owns 4,237 shares of the semiconductor company's stock valued at $248,000 after buying an additional 351 shares during the period. 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.