Camtek (NASDAQ:CAMT) Shares Gap Up - Still a Buy?

Camtek Ltd. (NASDAQ:CAMT - Get Free Report)'s share price gapped up prior to trading on Thursday . The stock had previously closed at $65.28, but opened at $69.32. Camtek shares last traded at $68.34, with a volume of 72,136 shares trading hands.

Analyst Ratings Changes

Several brokerages have recently weighed in on CAMT. Needham & Company LLC reduced their price objective on shares of Camtek from $110.00 to $80.00 and set a "buy" rating for the company in a research report on Wednesday, May 14th. Northland Securities set a $105.00 price objective on Camtek in a report on Wednesday, May 14th. Wall Street Zen raised Camtek from a "sell" rating to a "hold" rating in a report on Wednesday, May 21st. Jefferies Financial Group dropped their price target on Camtek from $120.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Finally, Evercore ISI reduced their price objective on Camtek from $100.00 to $82.00 and set an "outperform" rating for the company in a research note on Wednesday, May 14th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Camtek presently has an average rating of "Moderate Buy" and an average price target of $90.78.

Camtek Stock Up 0.3%

The firm's fifty day moving average is $63.07 and its 200-day moving average is $74.40. The stock has a market capitalization of $3.04 billion, a PE ratio of 27.58, a PEG ratio of 1.89 and a beta of 1.36. The company has a quick ratio of 4.11, a current ratio of 5.00 and a debt-to-equity ratio of 0.36.

Camtek (NASDAQ:CAMT - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The semiconductor company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.02. The firm had revenue of $118.64 million during the quarter, compared to analysts' expectations of $119.00 million. Camtek had a return on equity of 24.99% and a net margin of 27.61%. Camtek's revenue was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.63 earnings per share. On average, equities research analysts predict that Camtek Ltd. will post 2.93 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its holdings in shares of Camtek by 25.4% in the 4th quarter. Royal Bank of Canada now owns 206,927 shares of the semiconductor company's stock worth $16,714,000 after acquiring an additional 41,865 shares during the period. HighTower Advisors LLC grew its position in shares of Camtek by 75.6% in the fourth quarter. HighTower Advisors LLC now owns 9,926 shares of the semiconductor company's stock valued at $802,000 after purchasing an additional 4,272 shares during the last quarter. State of New Jersey Common Pension Fund D raised its position in shares of Camtek by 1.5% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 25,150 shares of the semiconductor company's stock worth $2,031,000 after purchasing an additional 381 shares during the last quarter. Y.D. More Investments Ltd grew its holdings in Camtek by 6.0% during the 4th quarter. Y.D. More Investments Ltd now owns 525,413 shares of the semiconductor company's stock valued at $42,905,000 after buying an additional 29,580 shares during the last quarter. Finally, Swiss National Bank increased its position in Camtek by 2.4% during the fourth quarter. Swiss National Bank now owns 59,008 shares of the semiconductor company's stock worth $4,813,000 after buying an additional 1,369 shares in the last quarter. 41.93% of the stock is owned by hedge funds and other 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.