Camtek (NASDAQ:CAMT) Shares Up 5.4% - Here's Why

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

Analyst Ratings Changes

Several research analysts have recently commented on CAMT shares. Bank of America reduced their target price on Camtek from $105.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Wall Street Zen upgraded Camtek from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st. Jefferies Financial Group reduced their target price on Camtek from $120.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, March 28th. B. Riley lifted their target price on Camtek from $85.00 to $95.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Finally, Needham & Company LLC dropped their price target on Camtek from $110.00 to $80.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $90.78.

Camtek Stock Performance

The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of 29.82, a PEG ratio of 1.89 and a beta of 1.36. The company has a fifty day moving average of $63.76 and a two-hundred day moving average of $74.27. The company has a debt-to-equity ratio of 0.36, a quick ratio of 4.11 and a current ratio of 5.00.

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 analysts' consensus estimates of $0.77 by $0.02. Camtek had a return on equity of 24.99% and a net margin of 27.61%. The company had revenue of $118.64 million during the quarter, compared to analysts' expectations of $119.00 million. During the same quarter in the previous year, the firm earned $0.63 EPS. Camtek's revenue was up 22.3% on a year-over-year basis. As a group, equities research analysts predict that Camtek Ltd. will post 2.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Camtek

Institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd acquired a new position in shares of Camtek during the 1st quarter worth $31,000. Jones Financial Companies Lllp grew its position in Camtek by 364.0% during the 4th quarter. Jones Financial Companies Lllp now owns 413 shares of the semiconductor company's stock worth $33,000 after acquiring an additional 324 shares during the last quarter. Huntington National Bank grew its position in Camtek by 42.4% during the 4th quarter. Huntington National Bank now owns 413 shares of the semiconductor company's stock worth $33,000 after acquiring an additional 123 shares during the last quarter. Advisors Asset Management Inc. grew its position in Camtek by 61.6% during the 1st quarter. Advisors Asset Management Inc. now owns 769 shares of the semiconductor company's stock worth $45,000 after acquiring an additional 293 shares during the last quarter. Finally, State of Wyoming grew its position in Camtek by 146.2% during the 4th quarter. State of Wyoming now owns 2,021 shares of the semiconductor company's stock worth $163,000 after acquiring an additional 1,200 shares during the last quarter. Institutional investors and hedge funds 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.