Camtek (NASDAQ:CAMT) Stock Price Down 4.2% – What’s Next?

Camtek Ltd. (NASDAQ:CAMT)’s stock price dropped 4.2% during trading on Monday . The stock traded as low as $71.82 and last traded at $71.82. 56,689 shares were traded during trading, a decline of 89% from the average daily volume of 536,869 shares. The stock had previously closed at $74.94.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CAMT shares. Northland Securities raised their price objective on shares of Camtek from $99.00 to $102.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. B. Riley decreased their price target on Camtek from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. StockNews.com raised Camtek from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Needham & Company LLC reiterated a “buy” rating and set a $95.00 target price on shares of Camtek in a research report on Wednesday, November 13th. Finally, Northland Capmk upgraded shares of Camtek from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Camtek has an average rating of “Buy” and an average target price of $110.57.

Camtek Stock Down 4.4 %

The firm has a market cap of $3.25 billion, a P/E ratio of 32.93, a P/E/G ratio of 1.36 and a beta of 1.38. The company has a current ratio of 5.28, a quick ratio of 4.36 and a debt-to-equity ratio of 0.38. The business has a 50-day moving average price of $78.92 and a 200-day moving average price of $95.40.

Camtek (NASDAQ:CAMT) last issued its earnings results on Tuesday, November 12th. The semiconductor company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.06. The company had revenue of $112.30 million for the quarter, compared to analysts’ expectations of $108.51 million. Camtek had a net margin of 26.53% and a return on equity of 24.21%. The firm’s quarterly revenue was up 39.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.46 EPS. On average, equities analysts forecast that Camtek Ltd. will post 2.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Camtek

Several institutional investors have recently bought and sold shares of CAMT. Fred Alger Management LLC purchased a new position in Camtek in the second quarter valued at about $8,386,000. Meitav Investment House Ltd. boosted its holdings in shares of Camtek by 14.1% in the 3rd quarter. Meitav Investment House Ltd. now owns 373,044 shares of the semiconductor company’s stock valued at $29,887,000 after buying an additional 46,016 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Camtek in the 2nd quarter worth approximately $1,423,000. Tidal Investments LLC bought a new position in shares of Camtek during the 1st quarter worth approximately $1,716,000. Finally, Millennium Management LLC lifted its position in Camtek by 34.0% during the second quarter. Millennium Management LLC now owns 217,617 shares of the semiconductor company’s stock valued at $27,254,000 after acquiring an additional 55,234 shares during the last quarter. 41.93% of the stock is owned by hedge funds and other institutional investors.

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.