Pier Capital LLC Makes New $3.54 Million Investment in Camtek Ltd. $CAMT

Key Points

• Pier Capital LLC bought 33,248 shares of Camtek in Q4, a new stake worth about $3.54 million, representing roughly 0.07% of the company.
• Camtek slightly missed EPS expectations (reported $0.81 vs. $0.83 est.) but beat on revenue ($128.12M vs. $127.10M); the stock fell about 4.7% and trades at a high P/E (~205) with a market cap near $8.85 billion.
• Several large institutions (Wasatch, Menora, Harel, Migdal, Brown) increased holdings and institutional investors own about 41.93% of the stock; analysts are split but the consensus is a "Moderate Buy" with an average target of $166.75.

Pier Capital LLC purchased a new stake in Camtek Ltd. (NASDAQ:CAMT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 33,248 shares of the semiconductor company's stock, valued at approximately $3,536,000. Pier Capital LLC owned about 0.07% of Camtek as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CAMT. Wasatch Advisors LP grew its stake in shares of Camtek by 14.7% in the third quarter. Wasatch Advisors LP now owns 4,020,683 shares of the semiconductor company's stock valued at $422,373,000 after buying an additional 513,956 shares in the last quarter. Menora Mivtachim Holdings LTD. lifted its holdings in Camtek by 31.1% during the 3rd quarter. Menora Mivtachim Holdings LTD. now owns 2,099,351 shares of the semiconductor company's stock worth $220,537,000 after buying an additional 497,918 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Camtek by 56.9% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,665,236 shares of the semiconductor company's stock worth $177,090,000 after buying an additional 604,097 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Camtek by 12.0% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,318,396 shares of the semiconductor company's stock worth $140,205,000 after buying an additional 140,796 shares during the last quarter. Finally, Brown Capital Management LLC lifted its holdings in Camtek by 1.2% during the 3rd quarter. Brown Capital Management LLC now owns 1,153,943 shares of the semiconductor company's stock worth $121,222,000 after buying an additional 13,806 shares during the last quarter. Hedge funds and other institutional investors own 41.93% of the company's stock.

Camtek Stock Down 4.7%

Shares of NASDAQ CAMT opened at $193.08 on Friday. The stock has a fifty day moving average price of $171.11 and a 200 day moving average price of $141.28. The company has a current ratio of 8.35, a quick ratio of 7.31 and a debt-to-equity ratio of 0.84. The company has a market cap of $8.85 billion, a P/E ratio of 205.41, a P/E/G ratio of 4.76 and a beta of 1.61. Camtek Ltd. has a 12-month low of $62.88 and a 12-month high of $210.20.

Camtek (NASDAQ:CAMT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 18th. The semiconductor company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.02). Camtek had a return on equity of 23.61% and a net margin of 10.23%.The company had revenue of $128.12 million for the quarter, compared to the consensus estimate of $127.10 million. During the same period in the previous year, the business posted $0.77 EPS. The business's revenue for the quarter was up 9.2% on a year-over-year basis. Research analysts anticipate that Camtek Ltd. will post 3.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on CAMT shares. Northland Securities downgraded Camtek from an "outperform" rating to a "market perform" rating and set a $150.00 price objective for the company. in a research note on Wednesday, February 18th. Bank of America upped their price objective on Camtek from $140.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday, January 13th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $145.00 price objective on shares of Camtek in a research note on Wednesday, February 18th. Needham & Company LLC upped their price objective on Camtek from $160.00 to $175.00 and gave the company a "buy" rating in a research note on Wednesday, February 18th. Finally, Oppenheimer upped their price objective on Camtek from $120.00 to $180.00 and gave the company an "outperform" rating in a research note on Thursday, February 19th. Seven 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 presently has a consensus rating of "Moderate Buy" and an average target price of $166.75.

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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