Camtek (NASDAQ:CAMT) Trading Up 8.6% - Here's Why

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

Wall Street Analysts Forecast Growth

CAMT has been the subject of a number of recent analyst reports. Bank of America decreased their target price on shares of Camtek from $105.00 to $80.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Wall Street Zen raised shares of Camtek from a "sell" rating to a "hold" rating in a research report on Wednesday, May 21st. Northland Securities set a $105.00 target price on shares of Camtek in a research report on Wednesday, May 14th. Needham & Company LLC decreased their target price on shares of Camtek from $110.00 to $80.00 and set a "buy" rating for the company in a research report on Wednesday, May 14th. Finally, Barclays decreased their target price on shares of Camtek from $120.00 to $85.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $90.78.

Camtek Trading Up 0.9%

The company has a market cap of $3.42 billion, a price-to-earnings ratio of 28.73, a P/E/G ratio of 2.03 and a beta of 1.29. 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 firm's 50-day moving average price is $67.32 and its 200 day moving average price is $74.31.

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

Hedge Funds Weigh In On Camtek

Several large investors have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in 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 acquiring an additional 532,944 shares in the last quarter. Fred Alger Management LLC purchased a new position in shares of Camtek in the 1st quarter worth about $453,000. Goldman Sachs Group Inc. boosted its holdings in shares of Camtek by 12.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 149,223 shares of the semiconductor company's stock worth $8,749,000 after buying an additional 16,117 shares during the last quarter. Petrus Trust Company LTA boosted its holdings in shares of Camtek by 12.9% in the 1st quarter. Petrus Trust Company LTA now owns 3,706 shares of the semiconductor company's stock worth $217,000 after buying an additional 422 shares during the last quarter. Finally, Needham Investment Management LLC purchased a new position in shares of Camtek in the 1st quarter worth about $2,785,000. 41.93% of the stock is currently owned by institutional investors.

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.