Cim LLC Raises Stock Position in Camtek Ltd. $CAMT

Key Points

• Cim LLC increased its Camtek stake by 168.7% in the first quarter, owning 15,536 shares valued at approximately $2.36 million. Institutional investors collectively hold 41.93% of the company.
• Camtek shares opened at $126.97, down 9.3%, and remain well below their 12-month high of $215.99. The stock trades at a high price-to-earnings ratio of 145.94.
• Camtek narrowly exceeded quarterly earnings and revenue estimates, reporting $0.70 in EPS and $121.66 million in revenue. Analysts maintain a “Moderate Buy” consensus, with an average price target of $174.67.

Cim LLC boosted its stake in Camtek Ltd. (NASDAQ:CAMT - Free Report) by 168.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,536 shares of the semiconductor company's stock after purchasing an additional 9,755 shares during the period. Cim LLC's holdings in Camtek were worth $2,355,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Daiwa Securities Group Inc. boosted its stake in shares of Camtek by 202.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 299 shares of the semiconductor company's stock worth $32,000 after buying an additional 200 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Camtek in the third quarter worth $32,000. Fifth Third Bancorp purchased a new stake in Camtek during the first quarter valued at $42,000. EverSource Wealth Advisors LLC increased its position in Camtek by 46.8% during the first quarter. EverSource Wealth Advisors LLC now owns 298 shares of the semiconductor company's stock valued at $45,000 after acquiring an additional 95 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in Camtek by 61.6% in the first quarter. Advisors Asset Management Inc. now owns 769 shares of the semiconductor company's stock valued at $45,000 after acquiring an additional 293 shares during the period. 41.93% of the stock is currently owned by hedge funds and other institutional investors.

Camtek Trading Down 9.3%

Camtek stock opened at $126.97 on Thursday. The firm has a 50 day moving average of $162.45 and a 200 day moving average of $162.80. The firm has a market capitalization of $5.92 billion, a price-to-earnings ratio of 145.94, a P/E/G ratio of 3.36 and a beta of 1.55. Camtek Ltd. has a 12-month low of $75.75 and a 12-month high of $215.99. The company has a current ratio of 8.35, a quick ratio of 7.46 and a debt-to-equity ratio of 0.71.

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Weiss Ratings upgraded Camtek from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, May 14th. Northland Securities set a $174.00 target price on shares of Camtek in a research report on Wednesday, May 13th. Needham & Company LLC upped their target price on shares of Camtek from $175.00 to $190.00 and gave the company a "buy" rating in a report on Tuesday, May 12th. Barclays increased their price target on shares of Camtek from $175.00 to $185.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 13th. Finally, Evercore reiterated an "outperform" rating and set a $200.00 price target on shares of Camtek in a research note 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's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $174.67.

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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