Arrowstreet Capital Limited Partnership Acquires Shares of 48,328 Camtek Ltd. $CAMT

Key Points

• Arrowstreet Capital acquired 48,328 Camtek shares valued at approximately $7.2 million, giving it about a 0.11% stake. Hedge funds and other institutional investors collectively own 41.93% of the company.
• Analysts maintain a positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $174.67; several firms recently raised their targets to between $185 and $195.
• Camtek slightly exceeded quarterly expectations, reporting $0.70 in earnings per share versus $0.69 expected and $121.66 million in revenue. Revenue increased 2.6% year over year, while the stock opened at $132.46 and trades at a high P/E ratio of 152.25.

Arrowstreet Capital Limited Partnership acquired a new position in Camtek Ltd. (NASDAQ:CAMT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 48,328 shares of the semiconductor company's stock, valued at approximately $7,225,000. Arrowstreet Capital Limited Partnership owned approximately 0.11% of Camtek at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Advisors Asset Management Inc. raised its stake in Camtek by 61.6% in 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. Goldman Sachs Group Inc. raised its position 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 acquiring an additional 16,117 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Camtek by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 39,420 shares of the semiconductor company's stock worth $3,333,000 after acquiring an additional 279 shares in the last quarter. Cetera Investment Advisers lifted its stake in shares of Camtek by 4.7% in the 2nd quarter. Cetera Investment Advisers now owns 4,841 shares of the semiconductor company's stock valued at $409,000 after purchasing an additional 217 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Camtek by 8.3% during the second quarter. Invesco Ltd. now owns 263,836 shares of the semiconductor company's stock valued at $22,310,000 after purchasing an additional 20,237 shares in the last quarter. 41.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CAMT shares. Oppenheimer boosted their target price on shares of Camtek from $180.00 to $195.00 and gave the company an "outperform" rating in a report on Wednesday, May 13th. Needham & Company LLC increased their price target on shares of Camtek from $175.00 to $190.00 and gave the stock a "buy" rating in a research note on Tuesday, May 12th. Barclays lifted their price target on shares of Camtek from $175.00 to $185.00 and gave the company an "overweight" rating in a research report on Wednesday, May 13th. Stifel Nicolaus reissued a "hold" rating and set a $185.00 price objective on shares of Camtek in a research note on Friday, April 17th. Finally, Northland Securities set a $174.00 price objective on shares of Camtek in a report on Wednesday, May 13th. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $174.67.

Camtek Stock Performance

Shares of Camtek stock opened at $132.46 on Friday. Camtek Ltd. has a 1 year low of $75.75 and a 1 year high of $215.99. The firm's 50-day moving average is $161.29 and its 200 day moving average is $162.62. The stock has a market cap of $6.18 billion, a price-to-earnings ratio of 152.25, a PEG ratio of 3.18 and a beta of 1.55. The company has a debt-to-equity ratio of 0.71, a current ratio of 8.35 and a quick ratio of 7.46.

Camtek (NASDAQ:CAMT - Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The semiconductor company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.01. The business had revenue of $121.66 million during the quarter, compared to analyst estimates of $120.15 million. Camtek had a net margin of 9.63% and a return on equity of 22.26%. Camtek's revenue was up 2.6% compared to the same quarter last year. During the same period last year, the business earned $0.79 EPS. Sell-side analysts anticipate that Camtek Ltd. will post 3.14 EPS for the current fiscal year.

Camtek Profile

Camtek Ltd. NASDAQ: CAMT is a provider of automated inspection and metrology solutions for the semiconductor and printed circuit board (PCB) industries. The company develops, manufactures and markets a suite of inline and stand-alone systems that perform high‐resolution 2D and 3D measurements, defect review and process control. Its products are used by integrated device manufacturers, foundries, OSAT (outsourced semiconductor assembly and test) providers, and PCB fabricators to optimize yield, improve product quality and reduce production costs.

Camtek's core offerings include wafer inspection systems that detect and classify defects on patterned wafers, patterned wafer metrology tools for overlay and critical dimension measurements, and advanced packaging inspection platforms for 3D ICs and fan-out wafer-level packaging.

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