Camtek (NASDAQ:CAMT) Stock Price Down 6.3% - What's Next?

Key Points

• Camtek shares fell 6.3% to about $138.27 in midday trading, with volume 39% below the average session level.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $176.75; however, Morgan Stanley recently lowered its target to $152 and kept an “equal weight” rating.
• Camtek exceeded quarterly expectations, reporting $0.78 EPS and $133.24 million in revenue, while revenue grew 8% year over year. Insiders have sold $4.5 million of stock over the past 90 days.

Camtek Ltd. (NASDAQ:CAMT - Get Free Report)'s stock price dropped 6.3% during mid-day trading on Tuesday. The company traded as low as $137.59 and last traded at $138.2730. 296,775 shares traded hands during trading, a decline of 39% from the average session volume of 487,965 shares. The stock had previously closed at $147.63.

Analyst Ratings Changes

CAMT has been the topic of several recent research reports. Stifel Nicolaus set a $170.00 target price on shares of Camtek in a report on Monday, August 10th. Morgan Stanley cut their price target on Camtek from $165.00 to $152.00 and set an "equal weight" rating for the company in a research note on Monday, September 28th. Cantor Fitzgerald reissued a "neutral" rating and set a $175.00 price target on shares of Camtek in a research report on Tuesday, September 22nd. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Camtek in a research report on Tuesday, August 11th. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, Camtek presently has an average rating of "Moderate Buy" and an average price target of $176.75.

Camtek Stock Performance

The firm has a market cap of $6.36 billion, a price-to-earnings ratio of 213.06, a P/E/G ratio of 3.29 and a beta of 1.56. The stock has a 50 day moving average of $149.35 and a 200 day moving average of $160.97. 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 posted its quarterly earnings data on Monday, August 10th. The semiconductor company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.02. Camtek had a net margin of 7.40% and a return on equity of 21.58%. The business had revenue of $133.24 million during the quarter, compared to analysts' expectations of $130.44 million. During the same quarter in the prior year, the business posted $0.79 earnings per share. Camtek's revenue was up 8.0% compared to the same quarter last year. As a group, analysts anticipate that Camtek Ltd. will post 3.27 EPS for the current fiscal year.

Insider Activity at Camtek

In other Camtek news, VP Orit Geva-Dvash sold 508 shares of the business's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $175.00, for a total transaction of $88,900.00. Following the completion of the transaction, the vice president directly owned 5,205 shares in the company, valued at $910,875. The trade was a 8.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Rafi Amit sold 6,250 shares of the business's 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 approximately $9,438,282. This represents a 10.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 26,843 shares of company stock worth $4,514,249 in the last 90 days. Corporate insiders own 79.40% of the company's stock.

Hedge Funds Weigh In On Camtek

Several hedge funds and other institutional investors have recently modified their holdings of the business. Y.D. More Investments Ltd raised its stake in Camtek by 20.8% during the first quarter. Y.D. More Investments Ltd now owns 783,365 shares of the semiconductor company's stock worth $114,901,000 after acquiring an additional 134,791 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Camtek in the first quarter worth about $7,225,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Camtek in the 2nd quarter valued at approximately $1,217,000. Cim LLC boosted its stake in shares of Camtek by 168.7% in the 1st quarter. Cim LLC now owns 15,536 shares of the semiconductor company's stock valued at $2,355,000 after purchasing an additional 9,755 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new stake in shares of Camtek during the 1st quarter valued at approximately $582,000. Institutional investors own 41.93% of the company's stock.

Camtek Company Profile

Camtek Ltd. NASDAQ: CAMT is an Israel-based provider of inspection and metrology systems used in semiconductor manufacturing. The company develops equipment and software designed to identify defects, measure wafer and package characteristics, and support process control during the production of integrated circuits.

Camtek's product portfolio serves a range of applications, including advanced packaging, heterogeneous integration, chiplets, memory, foundry and logic manufacturing, and other high-density semiconductor processes.

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