Camtek (NASDAQ:CAMT) Trading Up 4.6% - Here's Why

Key Points

• Camtek Ltd. (NASDAQ:CAMT) shares rose 4.6% during trading, reaching a last trade price of $100.25, despite a significant decline in trading volume compared to average levels.
• Recent analyst ratings include a lowered price target from Bank of America to $80.00, while B. Riley increased their target to $95.00, with a consensus target price of $89.00.
• Camtek reported a quarterly earnings per share of $0.79, beating estimates, along with a revenue of $118.64 million, which was slightly below consensus expectations.

Camtek Ltd. (NASDAQ:CAMT - Get Free Report)'s share price was up 4.6% during mid-day trading on Monday . The company traded as high as $99.58 and last traded at $100.25. Approximately 80,532 shares traded hands during trading, a decline of 83% from the average daily volume of 470,637 shares. The stock had previously closed at $95.81.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CAMT. Oppenheimer assumed coverage on shares of Camtek in a research report on Wednesday, July 2nd. They set an "outperform" rating and a $100.00 target price for the company. Bank of America cut their price objective on Camtek from $105.00 to $80.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. B. Riley raised their target price on Camtek from $85.00 to $95.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Evercore ISI dropped their price target on Camtek from $100.00 to $82.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 14th. Finally, Wall Street Zen raised Camtek from a "sell" rating to a "hold" rating in a research report on Wednesday, May 21st. Two equities research 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. Based on data from MarketBeat, Camtek currently has an average rating of "Moderate Buy" and a consensus price target of $89.00.

Camtek Trading Up 1.4%

The company has a current ratio of 5.28, a quick ratio of 4.27 and a debt-to-equity ratio of 0.34. The business's fifty day simple moving average is $81.98 and its two-hundred day simple moving average is $76.00. The stock has a market capitalization of $4.35 billion, a P/E ratio of 36.59, a P/E/G ratio of 2.68 and a beta of 1.34.

Camtek (NASDAQ:CAMT - Get Free Report) last issued its earnings results on Tuesday, May 13th. The semiconductor company reported $0.79 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.02. The business had revenue of $118.64 million during the quarter, compared to analyst estimates of $119.00 million. Camtek had a return on equity of 24.57% and a net margin of 28.40%. Camtek's revenue was up 22.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 earnings per share. As a group, analysts forecast that Camtek Ltd. will post 2.93 earnings per share for the current year.

Institutional Trading of Camtek

Hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada increased its stake in shares of Camtek by 25.4% in the fourth quarter. Royal Bank of Canada now owns 206,927 shares of the semiconductor company's stock valued at $16,714,000 after buying an additional 41,865 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in Camtek in the first quarter valued at about $1,101,000. Ameriprise Financial Inc. boosted its holdings in Camtek by 16.9% in the fourth quarter. Ameriprise Financial Inc. now owns 25,129 shares of the semiconductor company's stock valued at $2,030,000 after acquiring an additional 3,635 shares during the last quarter. Norges Bank bought a new position in Camtek in the fourth quarter valued at about $4,551,000. Finally, Cetera Investment Advisers grew its position in shares of Camtek by 3.3% during the 4th quarter. Cetera Investment Advisers now owns 5,288 shares of the semiconductor company's stock worth $427,000 after buying an additional 171 shares during the period. 41.93% of the stock is currently owned by institutional investors and hedge funds.

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.