Camtek (NASDAQ:CAMT) Shares Down 6.3% - What's Next?

Key Points

• Down 6.3%: Camtek shares fell to $190.15 (intraday low $189.70) from a $203 close while volume was ~243,905 shares, about 52% below the daily average.
• Analyst view is mixed—seven Buy and seven Hold ratings give a consensus Moderate Buy and a $166.75 target, with recent price targets ranging roughly from $145 to $190 after several upgrades.
• EPS miss: Camtek reported $0.81 EPS vs. $0.83 expected and $128.12M in revenue (slightly above estimates), but the stock carries a high valuation (P/E ~203) and a market cap of $8.75B.

Camtek Ltd. (NASDAQ:CAMT - Get Free Report)'s stock price dropped 6.3% during mid-day trading on Monday . The company traded as low as $189.70 and last traded at $190.15. Approximately 243,905 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 503,679 shares. The stock had previously closed at $203.00.

Analysts Set New Price Targets

A number of research firms have issued reports on CAMT. B. Riley Financial reaffirmed a "buy" rating on shares of Camtek in a research report on Monday, April 20th. Oppenheimer upped their target price on shares of Camtek from $120.00 to $180.00 and gave the stock an "outperform" rating in a research note on Thursday, February 19th. Evercore reiterated an "outperform" rating and issued a $190.00 price target on shares of Camtek in a research note on Wednesday, February 18th. The Goldman Sachs Group reiterated a "neutral" rating and set a $145.00 price target on shares of Camtek in a report on Wednesday, February 18th. Finally, Barclays increased their price objective on shares of Camtek from $155.00 to $175.00 and gave the company an "overweight" rating in a research report on Thursday, February 19th. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $166.75.

Camtek Stock Down 6.0%

The firm has a 50-day moving average price of $166.13 and a two-hundred day moving average price of $137.67. The firm has a market cap of $8.75 billion, a price-to-earnings ratio of 203.11, a price-to-earnings-growth ratio of 4.78 and a beta of 1.56. The company has a debt-to-equity ratio of 0.84, a quick ratio of 7.31 and a current ratio of 8.35.

Camtek (NASDAQ:CAMT - Get Free Report) last announced its quarterly earnings results on Wednesday, February 18th. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.83 by ($0.02). Camtek had a net margin of 10.23% and a return on equity of 23.61%. The business had revenue of $128.12 million during the quarter, compared to analyst estimates of $127.10 million. During the same period last year, the company earned $0.77 earnings per share. The business's revenue for the quarter was up 9.2% compared to the same quarter last year. On average, sell-side analysts forecast that Camtek Ltd. will post 3.12 earnings per share for the current year.

Institutional Investors Weigh In On Camtek

Several hedge funds and other institutional investors have recently bought and sold shares of CAMT. Daiwa Securities Group Inc. boosted its stake in Camtek by 202.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 299 shares of the semiconductor company's stock valued at $32,000 after acquiring an additional 200 shares in the last quarter. Advisory Services Network LLC purchased a new position in Camtek during the 3rd quarter worth approximately $32,000. Global Retirement Partners LLC acquired a new position in Camtek during the fourth quarter worth approximately $52,000. Rothschild Investment LLC acquired a new stake in shares of Camtek in the third quarter valued at approximately $54,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Camtek during the fourth quarter worth approximately $63,000. 41.93% of the stock is currently owned by institutional investors and hedge funds.

Camtek Company Profile

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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