Camtek (NASDAQ:CAMT) Trading 8.6% Higher - What's Next?

Camtek Ltd. (NASDAQ:CAMT - Get Free Report)'s share price traded up 8.6% during mid-day trading on Monday . The stock traded as high as $76.30 and last traded at $76.41. 64,244 shares changed hands during trading, a decline of 89% from the average session volume of 559,983 shares. The stock had previously closed at $70.33.

Analyst Ratings Changes

Several analysts have recently weighed in on CAMT shares. Jefferies Financial Group lowered their price objective on shares of Camtek from $120.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Northland Securities set a $105.00 price target on Camtek in a research report on Wednesday, May 14th. Needham & Company LLC cut their target price on Camtek from $110.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. Evercore ISI dropped their price objective on Camtek from $100.00 to $82.00 and set an "outperform" rating for the company in a research note on Wednesday, May 14th. Finally, Bank of America reduced their price objective on shares of Camtek from $105.00 to $80.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Two equities research 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 stock. According to data from MarketBeat, Camtek has an average rating of "Moderate Buy" and a consensus price target of $90.78.

Camtek Stock Up 7.2%

The company has a current ratio of 5.00, a quick ratio of 4.11 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of 31.17, a price-to-earnings-growth ratio of 1.89 and a beta of 1.29. The firm's fifty day simple moving average is $66.02 and its two-hundred day simple moving average is $74.30.

Camtek (NASDAQ:CAMT - Get Free Report) last announced 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. Camtek had a net margin of 27.61% and a return on equity of 24.99%. The firm had revenue of $118.64 million for the quarter, compared to analyst estimates of $119.00 million. During the same period last year, the business earned $0.63 EPS. Camtek's revenue for the quarter was up 22.3% compared to the same quarter last year. Sell-side analysts anticipate that Camtek Ltd. will post 2.93 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its position in Camtek by 25.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 144,465 shares of the semiconductor company's stock worth $11,668,000 after buying an additional 29,579 shares during the period. Van ECK Associates Corp increased its position in shares of Camtek by 10.5% in the fourth quarter. Van ECK Associates Corp now owns 10,566 shares of the semiconductor company's stock worth $853,000 after acquiring an additional 1,005 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in shares of Camtek by 1.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 25,150 shares of the semiconductor company's stock worth $2,031,000 after acquiring an additional 381 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Camtek in the fourth quarter worth $209,000. Finally, CogentBlue Wealth Advisors LLC acquired a new stake in shares of Camtek in the fourth quarter worth $1,373,000. 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.

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