Camtek (NASDAQ:CAMT) Trading 5.4% Higher - Here's What Happened

Camtek Ltd. (NASDAQ:CAMT - Get Free Report)'s stock price was up 5.4% on Wednesday . The company traded as high as $71.50 and last traded at $71.69. Approximately 83,472 shares traded hands during trading, a decline of 85% from the average daily volume of 561,559 shares. The stock had previously closed at $68.04.

Analysts Set New Price Targets

A number of analysts have weighed in on CAMT shares. Evercore ISI dropped their target price on shares of Camtek from $100.00 to $82.00 and set an "outperform" rating on the stock in a report on Wednesday, May 14th. Barclays dropped their target price on shares of Camtek from $120.00 to $85.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Northland Securities set a $105.00 target price on shares of Camtek in a report on Wednesday, May 14th. Jefferies Financial Group dropped their target price on shares of Camtek from $120.00 to $85.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Finally, Wall Street Zen raised shares of Camtek from a "sell" rating to a "hold" rating in a report on Wednesday, May 21st. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $90.78.

Camtek Stock Up 1.8%

The stock's 50-day moving average is $64.04 and its 200-day moving average is $74.25. The stock has a market cap of $3.35 billion, a P/E ratio of 30.37, a price-to-earnings-growth ratio of 1.89 and a beta of 1.29. The company has a current ratio of 5.00, a quick ratio of 4.11 and a debt-to-equity ratio of 0.36.

Camtek (NASDAQ:CAMT - Get Free Report) last announced its earnings results on Tuesday, May 13th. The semiconductor company reported $0.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.02. The firm had revenue of $118.64 million during the quarter, compared to analyst estimates of $119.00 million. Camtek had a net margin of 27.61% and a return on equity of 24.99%. Camtek's revenue was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.63 EPS. As a group, research analysts anticipate that Camtek Ltd. will post 2.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Camtek

Several large investors have recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Camtek by 110.5% during the 1st 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 purchasing an additional 532,944 shares in the last quarter. Fred Alger Management LLC bought a new position in shares of Camtek during the 1st quarter valued at about $453,000. Goldman Sachs Group Inc. boosted its position in shares of Camtek by 12.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 149,223 shares of the semiconductor company's stock valued at $8,749,000 after purchasing an additional 16,117 shares in the last quarter. Petrus Trust Company LTA boosted its position in shares of Camtek by 12.9% during the 1st quarter. Petrus Trust Company LTA now owns 3,706 shares of the semiconductor company's stock valued at $217,000 after purchasing an additional 422 shares in the last quarter. Finally, Needham Investment Management LLC bought a new position in shares of Camtek during the 1st quarter valued at about $2,785,000. Institutional investors own 41.93% of the company's stock.

Camtek Company Profile

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.