Camtek (NASDAQ:CAMT) Trading Up 6.9% – Still a Buy?

Camtek Ltd. (NASDAQ:CAMT)’s stock price shot up 6.9% on Monday . The stock traded as high as $89.13 and last traded at $88.41. 73,653 shares changed hands during mid-day trading, a decline of 52% from the average session volume of 152,834 shares. The stock had previously closed at $82.69.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $105.00 price target on shares of Camtek in a research note on Thursday, December 12th. Northland Securities lifted their price target on shares of Camtek from $102.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $95.00 price objective on shares of Camtek in a report on Wednesday, November 13th. Finally, StockNews.com raised shares of Camtek from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $112.13.

Camtek Price Performance

The firm has a fifty day moving average of $78.24 and a two-hundred day moving average of $89.18. The stock has a market capitalization of $4.12 billion, a P/E ratio of 41.87, a P/E/G ratio of 1.36 and a beta of 1.33. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.28 and a quick ratio of 4.36.

Camtek (NASDAQ:CAMT) last posted its quarterly earnings results on Tuesday, November 12th. The semiconductor company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.69 by $0.06. Camtek had a net margin of 26.53% and a return on equity of 24.21%. The business had revenue of $112.30 million during the quarter, compared to analyst estimates of $108.51 million. During the same quarter in the previous year, the business posted $0.46 EPS. The company’s quarterly revenue was up 39.5% compared to the same quarter last year. On average, analysts predict that Camtek Ltd. will post 2.53 EPS for the current year.

Institutional Trading of Camtek

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Fred Alger Management LLC acquired a new stake in Camtek in the second quarter valued at approximately $8,386,000. Meitav Investment House Ltd. grew its stake in Camtek by 14.1% during the 3rd quarter. Meitav Investment House Ltd. now owns 373,044 shares of the semiconductor company’s stock worth $29,887,000 after buying an additional 46,016 shares during the last quarter. Squarepoint Ops LLC purchased a new position in Camtek during the 2nd quarter worth $1,423,000. Clal Insurance Enterprises Holdings Ltd raised its stake in Camtek by 21.5% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,515,452 shares of the semiconductor company’s stock valued at $121,734,000 after buying an additional 268,258 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in Camtek by 34.0% in the second quarter. Millennium Management LLC now owns 217,617 shares of the semiconductor company’s stock worth $27,254,000 after acquiring an additional 55,234 shares in the last quarter. Institutional investors own 41.93% of the company’s stock.

About Camtek

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.