Phoenix Financial Ltd. Acquires 341,000 Shares of Camtek Ltd. (NASDAQ:CAMT)

Key Points

• Phoenix Financial Ltd. significantly increased its stake in Camtek Ltd. by 266%, now owning approximately 1.03% of the company, valued at about $27.74 million.
• Institutional investors now hold 41.93% of Camtek's stock, indicating strong interest and investment from larger financial firms.
• Analyst ratings vary, with the average price target for Camtek being $89.00 and several firms adjusting their price targets downward.

Phoenix Financial Ltd. lifted its stake in Camtek Ltd. (NASDAQ:CAMT - Free Report) by 266.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 469,178 shares of the semiconductor company's stock after purchasing an additional 341,000 shares during the period. Phoenix Financial Ltd. owned 1.03% of Camtek worth $27,740,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Royal Bank of Canada grew its stake in shares of Camtek by 25.4% during the fourth quarter. Royal Bank of Canada now owns 206,927 shares of the semiconductor company's stock worth $16,714,000 after purchasing an additional 41,865 shares during the period. HighTower Advisors LLC grew its holdings in shares of Camtek by 75.6% in the 4th quarter. HighTower Advisors LLC now owns 9,926 shares of the semiconductor company's stock valued at $802,000 after buying an additional 4,272 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in shares of Camtek in the 1st quarter valued at $1,101,000. Ameriprise Financial Inc. grew its holdings in shares of Camtek by 16.9% in the 4th quarter. Ameriprise Financial Inc. now owns 25,129 shares of the semiconductor company's stock valued at $2,030,000 after buying an additional 3,635 shares during the period. Finally, Norges Bank acquired a new position in shares of Camtek in the 4th quarter valued at $4,551,000. Institutional investors and hedge funds own 41.93% of the company's stock.

Wall Street Analyst Weigh In

CAMT has been the topic of several research reports. B. Riley boosted their price objective on shares of Camtek from $85.00 to $95.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Oppenheimer initiated coverage on shares of Camtek in a research report on Wednesday, July 2nd. They set an "outperform" rating and a $100.00 price target on the stock. Needham & Company LLC dropped their target price on shares of Camtek from $110.00 to $80.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. Northland Securities set a $105.00 target price on shares of Camtek in a report on Wednesday, May 14th. Finally, Cantor Fitzgerald set a $80.00 price target on shares of Camtek and gave the company a "neutral" rating in a report on Tuesday, June 24th. 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 company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $89.00.

Camtek Stock Performance

Shares of NASDAQ:CAMT traded up $0.70 on Tuesday, reaching $99.63. 248,420 shares of the company's stock were exchanged, compared to its average volume of 472,211. 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 $4.54 billion, a price-to-earnings ratio of 38.16, a PEG ratio of 2.61 and a beta of 1.34. The company has a fifty day moving average of $80.07 and a 200-day moving average of $75.64. Camtek Ltd. has a twelve month low of $47.41 and a twelve month high of $110.73.

Camtek (NASDAQ:CAMT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The semiconductor company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.02. The business had revenue of $118.64 million for the quarter, compared to analyst estimates of $119.00 million. Camtek had a net margin of 28.40% and a return on equity of 24.57%. The firm's revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter last year, the business posted $0.63 EPS. On average, research analysts predict 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.