Camtek (NASDAQ:CAMT) Trading 6.9% Higher – Here’s Why

Camtek Ltd. (NASDAQ:CAMT) shares rose 6.9% during trading on Monday . The company traded as high as $89.13 and last traded at $88.41. Approximately 73,653 shares changed hands during trading, a decline of 52% from the average daily volume of 152,834 shares. The stock had previously closed at $82.69.

Wall Street Analysts Forecast Growth

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

Camtek Stock Down 0.2 %

The stock has a market cap 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 quick ratio of 4.36, a current ratio of 5.28 and a debt-to-equity ratio of 0.38. The company has a 50-day simple moving average of $78.24 and a two-hundred day simple moving average of $89.18.

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

Hedge Funds Weigh In On Camtek

Several hedge funds have recently made changes to their positions in CAMT. Advisors Asset Management Inc. lifted its holdings in Camtek by 78.8% in the third quarter. Advisors Asset Management Inc. now owns 329 shares of the semiconductor company’s stock worth $26,000 after buying an additional 145 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Camtek by 23,300.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 468 shares of the semiconductor company’s stock worth $59,000 after purchasing an additional 466 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Camtek during the third quarter valued at approximately $53,000. Gateway Wealth Partners LLC bought a new stake in shares of Camtek in the 2nd quarter worth $220,000. Finally, Susquehanna International Group Ltd. purchased a new position in Camtek in the 2nd quarter worth about $237,000. 41.93% of the stock is owned by hedge funds and other 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.