Camtek Ltd. $CAMT Stock Position Cut by Penn Capital Management Company LLC

Key Points

• Penn Capital cut its Camtek stake by 10% in the third quarter, selling 11,694 shares and retaining 105,320 shares worth about $16.38 million. Institutional investors collectively own 41.93% of the company.
• Camtek reported quarterly EPS of $0.99, matching analyst estimates, while revenue of $161.29 million exceeded expectations and rose 28% year over year.
• Analysts’ consensus rating is Hold, with an average price target of $164; Morgan Stanley downgraded the stock to Underweight and lowered its target to $126.

Penn Capital Management Company LLC lessened its holdings in shares of Camtek Ltd. (NASDAQ:CAMT - Free Report) by 10.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 105,320 shares of the semiconductor company's stock after selling 11,694 shares during the period. Penn Capital Management Company LLC owned 0.23% of Camtek worth $16,380,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of CAMT. IFP Advisors Inc lifted its position in shares of Camtek by 576.7% in the 2nd quarter. IFP Advisors Inc now owns 203 shares of the semiconductor company's stock worth $33,000 after purchasing an additional 173 shares during the period. Fifth Third Bancorp acquired a new stake in shares of Camtek during the first quarter worth $42,000. EverSource Wealth Advisors LLC increased its position in shares of Camtek by 46.8% during the first quarter. EverSource Wealth Advisors LLC now owns 298 shares of the semiconductor company's stock worth $45,000 after buying an additional 95 shares during the period. Compass Financial Management LLC bought a new position in Camtek during the second quarter worth $57,000. Finally, QRG Capital Management Inc. bought a new position in Camtek during the second quarter worth $206,000. Institutional investors own 41.93% of the company's stock.

Camtek Stock Up 8.2%

Shares of NASDAQ CAMT opened at $105.04 on Tuesday. The firm has a market cap of $4.90 billion, a PE ratio of 39.79, a P/E/G ratio of 2.02 and a beta of 1.69. Camtek Ltd. has a 12-month low of $89.13 and a 12-month high of $215.99. The company's fifty day simple moving average is $136.14 and its 200 day simple moving average is $155.84. The company has a quick ratio of 6.58, a current ratio of 7.38 and a debt-to-equity ratio of 0.69.

Camtek (NASDAQ:CAMT - Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The semiconductor company reported $0.99 EPS for the quarter, meeting analysts' consensus estimates of $0.99. Camtek had a return on equity of 22.05% and a net margin of 24.56%. The firm had revenue of $161.29 million during the quarter, compared to analysts' expectations of $160.36 million. During the same quarter last year, the firm posted $0.82 earnings per share. The company's revenue for the quarter was up 28.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Camtek Ltd. will post 3.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Camtek in a research report on Wednesday, November 4th. Stifel Nicolaus set a $140.00 price target on Camtek in a report on Wednesday, November 4th. Morgan Stanley lowered Camtek from an "equal weight" rating to an "underweight" rating and lowered their price objective for the stock from $152.00 to $126.00 in a research report on Monday, November 2nd. Cantor Fitzgerald reissued a "neutral" rating and issued a $175.00 price objective on shares of Camtek in a research report on Tuesday, September 22nd. Finally, B. Riley Financial dropped their price objective on Camtek from $166.00 to $138.00 and set a "buy" rating on the stock in a research note on Monday. Seven equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $164.00.

Insider Activity at Camtek

In other Camtek news, CEO Rafi Amit sold 6,250 shares of Camtek stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $170.52, for a total transaction of $1,065,750.00. Following the transaction, the chief executive officer owned 55,350 shares of the company's stock, valued at $9,438,282. This trade represents a 10.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Moshe Eisenberg sold 645 shares of Camtek stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $172.67, for a total value of $111,372.15. Following the sale, the chief financial officer owned 16,239 shares in the company, valued at $2,803,988.13. This trade represents a 3.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 19,737 shares of company stock valued at $3,367,056 over the last 90 days. Corporate insiders own 79.40% of the company's stock.

Camtek Profile

Camtek Ltd. develops, manufactures and sells inspection and metrology equipment used in semiconductor manufacturing. Its systems help manufacturers detect defects and measure features on wafers and other components, supporting quality control as semiconductor devices become smaller and more complex.

The company's products serve applications including advanced packaging, memory, image sensors and other semiconductor processes. Camtek combines optical inspection hardware with software to analyze production data and identify issues during manufacturing.

Founded in 1987 and headquartered in Migdal HaEmek, Israel, Camtek serves customers in semiconductor manufacturing centers around the world through its international operations and support network.

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