Camtek (NASDAQ:CAMT) Trading 9.2% Higher on Analyst Upgrade

Camtek Ltd. (NASDAQ:CAMT - Get Free Report)'s share price was up 9.2% during trading on Tuesday after Cantor Fitzgerald raised their price target on the stock from $70.00 to $80.00. Cantor Fitzgerald currently has a neutral rating on the stock. Camtek traded as high as $81.85 and last traded at $81.75. Approximately 827,311 shares were traded during trading, an increase of 49% from the average daily volume of 556,316 shares. The stock had previously closed at $74.85.

A number of other research firms have also recently weighed in on CAMT. Bank of America dropped their price target on shares of Camtek from $105.00 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Barclays decreased their price objective on Camtek from $120.00 to $85.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Needham & Company LLC cut their price objective 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. Jefferies Financial Group lowered their target price on Camtek from $120.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Finally, Northland Securities set a $105.00 target price on Camtek in a report on Wednesday, May 14th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $88.56.

Institutional Trading of Camtek

Several hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of Camtek in the 1st quarter valued at approximately $31,000. Jones Financial Companies Lllp raised its position in Camtek by 364.0% in the 4th quarter. Jones Financial Companies Lllp now owns 413 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 324 shares during the last quarter. Huntington National Bank lifted its stake in Camtek by 42.4% in the fourth quarter. Huntington National Bank now owns 413 shares of the semiconductor company's stock valued at $33,000 after buying an additional 123 shares during the period. Advisors Asset Management Inc. grew its holdings in shares of Camtek by 61.6% during the first quarter. Advisors Asset Management Inc. now owns 769 shares of the semiconductor company's stock worth $45,000 after buying an additional 293 shares in the last quarter. Finally, State of Wyoming grew its holdings in Camtek by 146.2% during the fourth quarter. State of Wyoming now owns 2,021 shares of the semiconductor company's stock worth $163,000 after purchasing an additional 1,200 shares during the period. 41.93% of the stock is owned by hedge funds and other institutional investors.

Camtek Stock Up 9.3%

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 company has a market capitalization of $3.73 billion, a price-to-earnings ratio of 31.34, a PEG ratio of 2.01 and a beta of 1.29. The firm's 50-day moving average price is $67.90 and its 200 day moving average price is $74.32.

Camtek (NASDAQ:CAMT - Get Free Report) last announced 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. The firm had revenue of $118.64 million during the quarter, compared to the consensus estimate of $119.00 million. Camtek had a return on equity of 24.57% and a net margin of 28.40%. The business's revenue was up 22.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.63 earnings per share. On average, sell-side analysts forecast that Camtek Ltd. will post 2.93 EPS for the current fiscal year.

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.

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