Camtek (NASDAQ:CAMT) Stock Price Down 6.2% - Time to Sell?

Camtek Ltd. (NASDAQ:CAMT - Get Free Report) shares fell 6.2% on Tuesday . The company traded as low as $79.50 and last traded at $79.33. 204,334 shares traded hands during trading, a decline of 63% from the average session volume of 553,656 shares. The stock had previously closed at $84.56.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Evercore ISI reduced their price objective on shares of Camtek from $100.00 to $82.00 and set an "outperform" rating for the company in a report on Wednesday, May 14th. Barclays decreased their price objective on Camtek from $120.00 to $85.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Cantor Fitzgerald set a $80.00 price objective on Camtek and gave the stock a "neutral" rating in a research note on Tuesday, June 24th. Bank of America dropped their price objective on shares of Camtek from $105.00 to $80.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Finally, Needham & Company LLC cut 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, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Camtek presently has a consensus rating of "Moderate Buy" and an average target price of $89.70.

Camtek Stock Performance

The stock has a market cap of $4.21 billion, a P/E ratio of 35.35, a PEG ratio of 2.38 and a beta of 1.34. The stock has a fifty day simple moving average of $71.69 and a 200-day simple moving average of $74.86. The company has a quick ratio of 4.27, a current ratio of 5.28 and a debt-to-equity ratio of 0.34.

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

Institutional Trading of Camtek

Hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC bought a new stake in shares of Camtek in the fourth quarter worth about $209,000. Bank of New York Mellon Corp increased its stake in Camtek by 44.0% during the 4th quarter. Bank of New York Mellon Corp now owns 57,752 shares of the semiconductor company's stock worth $4,665,000 after purchasing an additional 17,637 shares in the last quarter. Jones Financial Companies Lllp raised its holdings 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 buying an additional 324 shares during the period. Raymond James Financial Inc. acquired a new stake in Camtek during the 4th quarter worth approximately $4,334,000. Finally, Amundi lifted its stake in Camtek by 21.4% in the fourth quarter. Amundi now owns 4,791 shares of the semiconductor company's stock valued at $387,000 after buying an additional 845 shares in the last quarter. Institutional investors and hedge funds own 41.93% of the company's stock.

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.