Camtek (NASDAQ:CAMT) Shares Gap Up – Still a Buy?

Camtek Ltd. (NASDAQ:CAMT) gapped up before the market opened on Thursday . The stock had previously closed at $81.62, but opened at $84.70. Camtek shares last traded at $84.29, with a volume of 25,968 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CAMT shares. B. Riley dropped their price target on shares of Camtek from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Northland Securities raised shares of Camtek from a “market perform” rating to an “outperform” rating and set a $99.00 target price for the company in a report on Monday, August 5th. Needham & Company LLC reiterated a “buy” rating and issued a $140.00 price target on shares of Camtek in a research note on Friday, August 2nd. Finally, Northland Capmk upgraded Camtek from a “hold” rating to a “strong-buy” rating in a research 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. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $116.57.

Camtek Price Performance

The firm has a market capitalization of $3.75 billion, a P/E ratio of 46.11, a price-to-earnings-growth ratio of 1.55 and a beta of 1.38. The company has a current ratio of 5.21, a quick ratio of 4.29 and a debt-to-equity ratio of 0.42. The firm has a 50 day moving average price of $84.96 and a 200-day moving average price of $95.62.

Camtek (NASDAQ:CAMT) last posted its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. The business had revenue of $102.60 million for the quarter, compared to analysts’ expectations of $101.26 million. Camtek had a net margin of 25.93% and a return on equity of 22.57%. The business’s revenue was up 39.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 earnings per share. On average, analysts expect that Camtek Ltd. will post 2.45 earnings per share for the current year.

Hedge Funds Weigh In On Camtek

A number of large investors have recently bought and sold shares of CAMT. Headlands Technologies LLC purchased a new position in shares of Camtek during the first quarter worth approximately $50,000. Northwestern Mutual Wealth Management Co. grew its stake in Camtek by 23,300.0% in the second 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. Russell Investments Group Ltd. increased its holdings in Camtek by 524.6% during the 1st quarter. Russell Investments Group Ltd. now owns 1,474 shares of the semiconductor company’s stock worth $123,000 after purchasing an additional 1,238 shares during the period. PNC Financial Services Group Inc. raised its position in Camtek by 17.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,280 shares of the semiconductor company’s stock valued at $158,000 after purchasing an additional 340 shares in the last quarter. Finally, Gateway Wealth Partners LLC purchased a new stake in shares of Camtek in the 2nd quarter worth $220,000. Hedge funds and other institutional investors own 41.93% of the company’s stock.

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.