Camtek (NASDAQ:CAMT) Trading 3.4% Higher – Here’s Why

Camtek Ltd. (NASDAQ:CAMT) shares traded up 3.4% on Thursday . The company traded as high as $67.03 and last traded at $66.84. 212,934 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 553,417 shares. The stock had previously closed at $64.67.

Analyst Ratings Changes

CAMT has been the subject of a number of research analyst reports. StockNews.com raised shares of Camtek from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Northland Securities lifted their target price on shares of Camtek from $102.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. Barclays lowered their price target on shares of Camtek from $140.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Stifel Nicolaus reiterated a “buy” rating and set a $105.00 price objective on shares of Camtek in a report on Thursday, December 12th. Finally, Needham & Company LLC restated a “buy” rating and issued a $110.00 target price on shares of Camtek in a research note on Thursday, February 13th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Camtek has an average rating of “Moderate Buy” and a consensus price target of $114.11.

Camtek Price Performance

The stock has a 50 day moving average of $83.77 and a two-hundred day moving average of $80.70. The company has a debt-to-equity ratio of 0.36, a quick ratio of 4.11 and a current ratio of 5.00. The firm has a market capitalization of $3.08 billion, a P/E ratio of 27.97, a P/E/G ratio of 1.89 and a beta of 1.38.

Camtek (NASDAQ:CAMT) last issued its quarterly earnings results on Wednesday, February 12th. The semiconductor company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.06). Camtek had a net margin of 27.61% and a return on equity of 24.99%. Sell-side analysts predict that Camtek Ltd. will post 2.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wasatch Advisors LP increased its stake in Camtek by 311.8% in the fourth quarter. Wasatch Advisors LP now owns 1,192,784 shares of the semiconductor company’s stock valued at $96,341,000 after acquiring an additional 903,126 shares during the period. Menora Mivtachim Holdings LTD. grew its stake in shares of Camtek by 81.8% in the 4th quarter. Menora Mivtachim Holdings LTD. now owns 1,566,433 shares of the semiconductor company’s stock valued at $126,521,000 after purchasing an additional 705,000 shares during the period. Meitav Investment House Ltd. raised its holdings in shares of Camtek by 119.3% in the 4th quarter. Meitav Investment House Ltd. now owns 818,123 shares of the semiconductor company’s stock worth $66,159,000 after buying an additional 445,079 shares in the last quarter. Driehaus Capital Management LLC bought a new position in shares of Camtek during the 4th quarter worth approximately $30,956,000. Finally, Two Sigma Advisers LP boosted its stake in Camtek by 107.5% in the 3rd quarter. Two Sigma Advisers LP now owns 720,700 shares of the semiconductor company’s stock valued at $57,548,000 after buying an additional 373,400 shares in the last quarter. 41.93% of the stock is owned by institutional investors.

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.