Camtek (NASDAQ:CAMT) Announces Earnings Results

Camtek (NASDAQ:CAMTGet Rating) issued its quarterly earnings data on Thursday. The semiconductor company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01, MarketWatch Earnings reports. Camtek had a return on equity of 24.42% and a net margin of 22.35%. The firm had revenue of $77.20 million during the quarter, compared to analyst estimates of $76.50 million. During the same quarter last year, the firm earned $0.30 EPS. Camtek’s quarterly revenue was up 34.7% on a year-over-year basis. Camtek updated its Q2 2022 guidance to EPS.

NASDAQ:CAMT traded up $0.94 during midday trading on Friday, reaching $27.88. 137,538 shares of the company traded hands, compared to its average volume of 141,031. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 19.50, a price-to-earnings-growth ratio of 2.74 and a beta of 1.51. Camtek has a twelve month low of $25.85 and a twelve month high of $49.60. The company has a fifty day moving average price of $30.65 and a 200 day moving average price of $37.06. The company has a debt-to-equity ratio of 0.66, a current ratio of 5.80 and a quick ratio of 5.14.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CAMT. Bank of America Corp DE grew its position in Camtek by 13.1% during the 2nd quarter. Bank of America Corp DE now owns 2,772 shares of the semiconductor company’s stock worth $105,000 after acquiring an additional 322 shares during the last quarter. Morgan Stanley grew its position in Camtek by 1,555.6% during the 2nd quarter. Morgan Stanley now owns 216,332 shares of the semiconductor company’s stock worth $8,158,000 after acquiring an additional 203,265 shares during the last quarter. Northern Trust Corp bought a new stake in Camtek during the 4th quarter worth approximately $199,000. JPMorgan Chase & Co. grew its position in Camtek by 17.8% during the 4th quarter. JPMorgan Chase & Co. now owns 34,130 shares of the semiconductor company’s stock worth $1,572,000 after acquiring an additional 5,163 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Camtek by 76.2% in the 4th quarter. Geode Capital Management LLC now owns 42,233 shares of the semiconductor company’s stock valued at $1,944,000 after buying an additional 18,258 shares during the last quarter. Institutional investors and hedge funds own 36.87% of the company’s stock.

A number of equities research analysts have weighed in on CAMT shares. Barclays lowered their price objective on Camtek from $50.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, April 25th. Bank of America initiated coverage on Camtek in a research note on Tuesday, January 25th. They set a “buy” rating and a $43.00 price objective for the company. B. Riley reduced their target price on Camtek from $45.00 to $34.00 in a report on Friday. Zacks Investment Research upgraded Camtek from a “sell” rating to a “hold” rating and set a $40.00 target price for the company in a research report on Thursday, February 17th. Finally, StockNews.com lowered Camtek from a “buy” rating to a “hold” rating in a research report on Thursday, March 24th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $41.40.

About Camtek (Get Rating)

Camtek Ltd., together with its subsidiaries, develops, manufactures, and sells inspection and metrology 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.

See Also

Earnings History for Camtek (NASDAQ:CAMT)

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