Camtek (NASDAQ:CAMT) Shares Gap Up - Time to Buy?

Key Points

• Camtek shares gapped up before Tuesday’s trading, opening at $146.35 after closing at $136.78, and were last trading around $145.62, up about 7.8% on the day.
• Analyst sentiment remains constructive: Camtek has a Moderate Buy consensus, with 7 Buy ratings and 7 Hold ratings, and a consensus price target of $174.67.
• The company’s latest quarter beat estimates slightly, posting EPS of $0.70 versus $0.69 expected and revenue of $121.66 million, while institutional ownership remains significant at 41.93%.

Camtek Ltd. (NASDAQ:CAMT - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $136.78, but opened at $146.35. Camtek shares last traded at $145.6220, with a volume of 96,806 shares changing hands.

Analysts Set New Price Targets

Several analysts recently issued reports on CAMT shares. B. Riley Financial reiterated a "buy" rating on shares of Camtek in a research report on Monday, April 20th. Weiss Ratings upgraded Camtek from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, May 14th. Morgan Stanley raised their target price on Camtek from $163.00 to $167.00 and gave the company an "equal weight" rating in a report on Monday, July 6th. Evercore reiterated an "outperform" rating and issued a $200.00 price target on shares of Camtek in a research note on Wednesday, May 13th. Finally, Wall Street Zen raised Camtek from a "sell" rating to a "hold" rating in a report on Saturday, March 21st. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $174.67.

Camtek Trading Up 7.8%

The business's 50 day simple moving average is $170.11 and its two-hundred day simple moving average is $160.17. The stock has a market cap of $6.88 billion, a P/E ratio of 169.56, a PEG ratio of 3.45 and a beta of 1.55. The company has a quick ratio of 7.46, a current ratio of 8.35 and a debt-to-equity ratio of 0.71.

Camtek (NASDAQ:CAMT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The semiconductor company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. Camtek had a net margin of 9.63% and a return on equity of 22.26%. The company had revenue of $121.66 million during the quarter, compared to the consensus estimate of $120.15 million. During the same period in the prior year, the business earned $0.79 earnings per share. The company's revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, analysts expect that Camtek Ltd. will post 3.14 EPS for the current year.

Institutional Trading of Camtek

Several hedge funds and other institutional investors have recently made changes to their positions in CAMT. Fifth Third Bancorp acquired a new position in shares of Camtek in the first quarter valued at approximately $42,000. EverSource Wealth Advisors LLC boosted its position in Camtek by 46.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 298 shares of the semiconductor company's stock worth $45,000 after buying an additional 95 shares during the period. Daiwa Securities Group Inc. grew its holdings in Camtek by 202.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 299 shares of the semiconductor company's stock worth $32,000 after acquiring an additional 200 shares during the last quarter. Advisory Services Network LLC bought a new stake in Camtek during the 3rd quarter worth approximately $32,000. Finally, Global Retirement Partners LLC acquired a new position in Camtek in the 4th quarter valued at approximately $52,000. 41.93% of the stock is currently owned by institutional investors.

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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