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

Shares of Camtek Ltd. (NASDAQ:CAMT - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $87.95, but opened at $92.22. Camtek shares last traded at $90.78, with a volume of 94,982 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CAMT shares. B. Riley lifted their price target on shares of Camtek from $85.00 to $95.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Evercore ISI dropped their target price on shares of Camtek from $100.00 to $82.00 and set an "outperform" rating for the company in a report on Wednesday, May 14th. Stifel Nicolaus lifted their target price on shares of Camtek from $84.00 to $98.00 and gave the company a "buy" rating in a report on Monday, July 7th. Bank of America dropped their target price on shares of Camtek from $105.00 to $80.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Finally, Oppenheimer began coverage on shares of Camtek in a report on Wednesday, July 2nd. They issued an "outperform" rating and a $100.00 target price for the company. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $89.00.

Camtek Trading Up 0.1%

The company's 50 day simple moving average is $75.40 and its 200 day simple moving average is $75.20. The firm has a market cap of $4.15 billion, a price-to-earnings ratio of 34.87, a P/E/G ratio of 2.40 and a beta of 1.34. 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 (NASDAQ:CAMT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The semiconductor company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.77 by $0.02. The business had revenue of $118.64 million during the quarter, compared to the consensus estimate of $119.00 million. Camtek had a net margin of 28.40% and a return on equity of 24.57%. The company's quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.63 earnings per share. As a group, research analysts expect that Camtek Ltd. will post 2.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Camtek

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wasatch Advisors LP lifted its position in Camtek by 311.8% in the fourth quarter. Wasatch Advisors LP now owns 1,192,784 shares of the semiconductor company's stock valued at $96,341,000 after acquiring an additional 903,126 shares during the last quarter. Menora Mivtachim Holdings LTD. lifted its position in Camtek by 81.8% in the fourth quarter. Menora Mivtachim Holdings LTD. now owns 1,566,433 shares of the semiconductor company's stock valued at $126,521,000 after acquiring an additional 705,000 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Camtek by 110.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,015,307 shares of the semiconductor company's stock valued at $59,527,000 after acquiring an additional 532,944 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its position in Camtek by 27.8% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,134,671 shares of the semiconductor company's stock valued at $123,622,000 after acquiring an additional 464,671 shares during the last quarter. Finally, Driehaus Capital Management LLC purchased a new stake in Camtek in the fourth quarter valued at $30,956,000. Institutional investors and hedge funds own 41.93% of the company's stock.

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.