Camtek (NASDAQ:CAMT) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Key Points

• Camtek exceeded quarterly expectations, reporting earnings of $0.78 per share versus the $0.76 consensus estimate. Revenue reached $133.24 million, ahead of analysts’ $130.19 million forecast.
• The stock opened at $155.35, with a market capitalization of approximately $7.25 billion and a high valuation multiple of 178.57 times earnings. Shares have traded between $75.75 and $215.99 over the past year.
• Analyst sentiment remains positive, with a “Moderate Buy” consensus and an average price target of $174.67; seven analysts rate the stock Buy and seven rate it Hold. Institutional investors own 41.93% of Camtek’s shares.

Camtek (NASDAQ:CAMT - Get Free Report) announced its quarterly earnings results on Monday. The semiconductor company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.02, FiscalAI reports. Camtek had a net margin of 9.63% and a return on equity of 22.26%. The firm had revenue of $133.24 million during the quarter, compared to analysts' expectations of $130.19 million.

Camtek Price Performance

Shares of NASDAQ CAMT opened at $155.35 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 7.46 and a current ratio of 8.35. The company has a market cap of $7.25 billion, a PE ratio of 178.57, a P/E/G ratio of 3.73 and a beta of 1.58. The business has a 50-day simple moving average of $159.00 and a two-hundred day simple moving average of $163.07. Camtek has a fifty-two week low of $75.75 and a fifty-two week high of $215.99.

Hedge Funds Weigh In On Camtek

Several hedge funds and other institutional investors have recently modified their holdings of CAMT. Voloridge Investment Management LLC purchased a new stake in Camtek during the 4th quarter worth approximately $603,000. Sphera Funds Management LTD. raised its holdings in shares of Camtek by 36.0% in the fourth quarter. Sphera Funds Management LTD. now owns 39,498 shares of the semiconductor company's stock worth $4,200,000 after buying an additional 10,450 shares during the last quarter. Engineers Gate Manager LP raised its holdings in shares of Camtek by 220.9% in the fourth quarter. Engineers Gate Manager LP now owns 6,454 shares of the semiconductor company's stock worth $686,000 after buying an additional 4,443 shares during the last quarter. Boothbay Fund Management LLC lifted its stake in shares of Camtek by 126.1% during the fourth quarter. Boothbay Fund Management LLC now owns 11,852 shares of the semiconductor company's stock worth $1,260,000 after buying an additional 6,611 shares during the period. Finally, EFG International AG acquired a new stake in shares of Camtek during the fourth quarter worth $4,092,000. 41.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CAMT shares. Northland Securities set a $174.00 price objective on shares of Camtek in a report on Wednesday, May 13th. B. Riley Financial reaffirmed a "buy" rating on shares of Camtek in a research report on Monday, April 20th. Barclays lifted their price target on Camtek from $175.00 to $185.00 and gave the company an "overweight" rating in a report on Wednesday, May 13th. Needham & Company LLC upped their price objective on Camtek from $175.00 to $190.00 and gave the stock a "buy" rating in a research note on Tuesday, May 12th. Finally, Oppenheimer raised their price objective on Camtek from $180.00 to $195.00 and gave the company an "outperform" rating in a research report on Wednesday, May 13th. Seven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $174.67.

About Camtek

Camtek Ltd. NASDAQ: CAMT is a provider of automated inspection and metrology solutions for the semiconductor and printed circuit board (PCB) industries. The company develops, manufactures and markets a suite of inline and stand-alone systems that perform high‐resolution 2D and 3D measurements, defect review and process control. Its products are used by integrated device manufacturers, foundries, OSAT (outsourced semiconductor assembly and test) providers, and PCB fabricators to optimize yield, improve product quality and reduce production costs.

Camtek's core offerings include wafer inspection systems that detect and classify defects on patterned wafers, patterned wafer metrology tools for overlay and critical dimension measurements, and advanced packaging inspection platforms for 3D ICs and fan-out wafer-level packaging.

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