Camtek (NASDAQ:CAMT) PT Raised to $21.00 at Needham & Company LLC

Camtek (NASDAQ:CAMT) had its price objective increased by equities researchers at Needham & Company LLC from $18.00 to $21.00 in a research note issued to investors on Wednesday, AR Network reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price target would indicate a potential upside of 14.57% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Camtek from a “buy” rating to a “hold” rating in a report on Thursday, October 1st. B. Riley lifted their price target on shares of Camtek from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday. Finally, BidaskClub downgraded shares of Camtek from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 22nd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $21.00.

NASDAQ:CAMT opened at $18.33 on Wednesday. The company has a 50-day moving average of $16.90 and a 200-day moving average of $14.03. The company has a market capitalization of $709.77 million, a price-to-earnings ratio of 42.63 and a beta of 1.71. Camtek has a 52 week low of $6.26 and a 52 week high of $19.65.

Camtek (NASDAQ:CAMT) last announced its quarterly earnings results on Tuesday, October 27th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. Camtek had a net margin of 12.69% and a return on equity of 12.23%. As a group, equities research analysts predict that Camtek will post 0.53 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Meitav Dash Investments Ltd. raised its stake in shares of Camtek by 3.5% in the second quarter. Meitav Dash Investments Ltd. now owns 347,814 shares of the semiconductor company’s stock worth $4,355,000 after acquiring an additional 11,920 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Camtek in the first quarter worth about $2,501,000. Morgan Stanley raised its stake in shares of Camtek by 25.0% in the first quarter. Morgan Stanley now owns 240,314 shares of the semiconductor company’s stock worth $2,024,000 after acquiring an additional 48,102 shares during the last quarter. State of Tennessee Treasury Department raised its stake in shares of Camtek by 8.0% in the second quarter. State of Tennessee Treasury Department now owns 96,797 shares of the semiconductor company’s stock worth $1,218,000 after acquiring an additional 7,150 shares during the last quarter. Finally, State Street Corp grew its position in shares of Camtek by 420.4% during the 1st quarter. State Street Corp now owns 83,468 shares of the semiconductor company’s stock worth $703,000 after buying an additional 67,429 shares during the period. 29.00% of the stock is owned by institutional investors.

About Camtek

Camtek Ltd. develops, manufactures, and sells metrology and inspection equipment for the advanced interconnect packaging, memory, complementary metal oxide semiconductor image sensors, micro-electro mechanical systems, radio frequency, and other segments of the semiconductor industry. It provides inspection and metrology systems, including 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 support the manufacturing of panel wafers used in the manufacturing of fan-out level packaging applications.

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