Camtek Ltd. $CAMT Shares Sold by Castleark Management LLC

Key Points

• Castleark Management cut its Camtek stake by 37.3% in the first quarter, selling 9,160 shares and retaining 15,420 shares valued at approximately $2.34 million. Institutional and hedge-fund investors collectively own 41.93% of CAMT.
• Analysts remain broadly positive, with seven Buy ratings and seven Hold ratings producing a consensus “Moderate Buy” rating and an average price target of $174.67. Several firms recently raised their targets to between $190 and $200.
• Camtek’s latest quarterly results slightly exceeded expectations, with adjusted EPS of $0.70 versus the $0.69 consensus and revenue of $121.66 million, up 2.6% year over year. The stock opened at $151.46, compared with a 12-month range of $75.75 to $215.99.

Castleark Management LLC lowered its position in shares of Camtek Ltd. (NASDAQ:CAMT - Free Report) by 37.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,420 shares of the semiconductor company's stock after selling 9,160 shares during the quarter. Castleark Management LLC's holdings in Camtek were worth $2,338,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. raised its holdings in Camtek by 38.2% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,302,009 shares of the semiconductor company's stock valued at $349,008,000 after acquiring an additional 636,773 shares during the last quarter. Wasatch Advisors LP boosted its holdings in shares of Camtek by 18.6% during the second quarter. Wasatch Advisors LP now owns 3,506,727 shares of the semiconductor company's stock worth $296,529,000 after purchasing an additional 550,072 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Camtek in the fourth quarter valued at $57,772,000. Millennium Management LLC grew its position in shares of Camtek by 169.8% in the third quarter. Millennium Management LLC now owns 479,053 shares of the semiconductor company's stock valued at $50,325,000 after purchasing an additional 301,484 shares during the period. Finally, Nuveen LLC increased its stake in Camtek by 723.2% in the fourth quarter. Nuveen LLC now owns 183,859 shares of the semiconductor company's stock valued at $19,758,000 after purchasing an additional 161,524 shares during the last quarter. 41.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CAMT has been the topic of several recent analyst reports. Needham & Company LLC increased their target price on Camtek from $175.00 to $190.00 and gave the stock a "buy" rating in a research report on Tuesday, May 12th. Weiss Ratings upgraded Camtek from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, May 14th. Oppenheimer upped their price objective on shares of Camtek from $180.00 to $195.00 and gave the company an "outperform" rating in a research note on Wednesday, May 13th. Jefferies Financial Group increased their price objective on shares of Camtek from $185.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, May 13th. Finally, Northland Securities set a $174.00 target price on shares of Camtek in a research report on Wednesday, May 13th. Seven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, Camtek currently has a consensus rating of "Moderate Buy" and an average price target of $174.67.

Camtek Price Performance

CAMT stock opened at $151.46 on Tuesday. The company has a market cap of $7.07 billion, a PE ratio of 174.09, a price-to-earnings-growth ratio of 3.55 and a beta of 1.55. The company has a current ratio of 8.35, a quick ratio of 7.46 and a debt-to-equity ratio of 0.71. The stock has a 50-day moving average price of $163.33 and a two-hundred day moving average price of $162.76. Camtek Ltd. has a 12-month low of $75.75 and a 12-month high of $215.99.

Camtek (NASDAQ:CAMT - Get Free Report) last issued its earnings results on Tuesday, May 12th. The semiconductor company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.01. Camtek had a return on equity of 22.26% and a net margin of 9.63%.The business had revenue of $121.66 million during the quarter, compared to analysts' expectations of $120.15 million. During the same quarter in the previous year, the business earned $0.79 EPS. The company's revenue for the quarter was up 2.6% on a year-over-year basis. As a group, research analysts predict that Camtek Ltd. will post 3.14 EPS for the current year.

About Camtek

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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