Camtek (NASDAQ:CAMT) Price Target Raised to $98.00

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 price objective lifted by Needham & Company LLC from $80.00 to $98.00 in a report released on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the semiconductor company's stock. Needham & Company LLC's price target suggests a potential upside of 10.92% from the stock's previous close.

A number of other equities analysts also recently issued reports on CAMT. B. Riley increased their target price on Camtek from $85.00 to $95.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Bank of America dropped their price objective on Camtek from $105.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Oppenheimer started coverage on Camtek in a research report on Wednesday, July 2nd. They set an "outperform" rating and a $100.00 price target for the company. Jefferies Financial Group set a $105.00 price target on Camtek and gave the stock a "buy" rating in a research report on Tuesday. Finally, Evercore ISI dropped their price target on Camtek from $100.00 to $82.00 and set an "outperform" rating for the company in a research report on Wednesday, May 14th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Camtek currently has a consensus rating of "Moderate Buy" and an average target price of $92.80.

Camtek Price Performance

Shares of NASDAQ CAMT opened at $88.35 on Tuesday. The stock's 50-day moving average is $83.67 and its two-hundred day moving average is $75.80. The company has a debt-to-equity ratio of 0.34, a current ratio of 5.28 and a quick ratio of 4.27. Camtek has a 1-year low of $47.41 and a 1-year high of $110.73. The company has a market cap of $4.03 billion, a price-to-earnings ratio of 33.85, a price-to-earnings-growth ratio of 2.64 and a beta of 1.31.

Camtek (NASDAQ:CAMT - Get Free Report) last released 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. The business had revenue of $123.32 million for 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 business's revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.66 EPS. Analysts forecast that Camtek will post 2.93 EPS for the current fiscal year.

Institutional Trading of Camtek

Several hedge funds and other institutional investors have recently bought and sold shares of CAMT. Vanguard Group Inc. increased its holdings in Camtek by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 983,986 shares of the semiconductor company's stock valued at $80,028,000 after buying an additional 14,702 shares during the last quarter. Norges Bank acquired a new position in Camtek in the fourth quarter valued at approximately $4,551,000. Wellington Management Group LLP boosted its stake in Camtek by 45.6% in the fourth quarter. Wellington Management Group LLP now owns 148,590 shares of the semiconductor company's stock valued at $12,002,000 after acquiring an additional 46,512 shares during the period. Geode Capital Management LLC boosted its position in shares of Camtek by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 39,117 shares of the semiconductor company's stock worth $3,159,000 after buying an additional 360 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of Camtek by 74.0% during the fourth quarter. Wells Fargo & Company MN now owns 12,231 shares of the semiconductor company's stock worth $988,000 after buying an additional 5,200 shares during the period. 41.93% of the stock is owned by institutional investors.

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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