Camtek (NASDAQ:CAMT) Shares Up 6% – Here’s Why

Camtek Ltd. (NASDAQ:CAMT) traded up 6% on Wednesday . The stock traded as high as $81.68 and last traded at $81.26. 128,304 shares changed hands during trading, a decline of 76% from the average session volume of 531,582 shares. The stock had previously closed at $76.68.

Analyst Ratings Changes

Several equities analysts have issued reports on CAMT shares. Northland Securities boosted their price objective on shares of Camtek from $99.00 to $102.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $105.00 target price on shares of Camtek in a report on Thursday, December 12th. Needham & Company LLC reissued a “buy” rating and set a $95.00 price target on shares of Camtek in a report on Wednesday, November 13th. Finally, StockNews.com upgraded shares of Camtek from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Camtek presently has a consensus rating of “Buy” and an average target price of $109.88.

Camtek Trading Up 10.9 %

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 business’s fifty day moving average is $77.61 and its 200 day moving average is $92.25. The stock has a market cap of $3.86 billion, a PE ratio of 39.17, a P/E/G ratio of 1.36 and a beta of 1.34.

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

Institutional Trading of Camtek

Several large investors have recently bought and sold shares of CAMT. Zweig DiMenna Associates LLC raised its stake in shares of Camtek by 18.0% during the 2nd quarter. Zweig DiMenna Associates LLC now owns 196,750 shares of the semiconductor company’s stock worth $24,641,000 after buying an additional 30,050 shares during the last quarter. EFG Asset Management North America Corp. purchased a new stake in shares of Camtek in the second quarter valued at about $1,431,000. Bank of New York Mellon Corp grew its position in shares of Camtek by 551.0% in the second quarter. Bank of New York Mellon Corp now owns 17,864 shares of the semiconductor company’s stock valued at $2,237,000 after purchasing an additional 15,120 shares during the last quarter. Shaker Investments LLC OH grew its position in shares of Camtek by 88.2% in the second quarter. Shaker Investments LLC OH now owns 5,969 shares of the semiconductor company’s stock valued at $748,000 after purchasing an additional 2,798 shares during the last quarter. Finally, Meitav Investment House Ltd. increased its stake in shares of Camtek by 2.8% during the 2nd quarter. Meitav Investment House Ltd. now owns 327,028 shares of the semiconductor company’s stock worth $40,981,000 after purchasing an additional 8,906 shares in the last quarter. Institutional investors and hedge funds own 41.93% of the company’s stock.

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.