Camtek (NASDAQ:CAMT) Shares Down 7.1% – Should You Sell?

Camtek Ltd. (NASDAQ:CAMT) fell 7.1% during trading on Tuesday . The stock traded as low as $81.09 and last traded at $81.40. 238,530 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 542,976 shares. The stock had previously closed at $87.61.

Analyst Ratings Changes

Several research firms have recently weighed in on CAMT. Northland Capmk raised Camtek from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Northland Securities upgraded shares of Camtek from a “market perform” rating to an “outperform” rating and set a $99.00 price target on the stock in a research report on Monday, August 5th. B. Riley lowered their price target on Camtek from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $140.00 price target on shares of Camtek in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Camtek presently has a consensus rating of “Buy” and a consensus price target of $116.57.

Camtek Stock Up 0.9 %

The company has a market cap of $3.70 billion, a P/E ratio of 46.54, a PEG ratio of 1.55 and a beta of 1.38. The company has a quick ratio of 4.29, a current ratio of 5.21 and a debt-to-equity ratio of 0.42. The firm has a fifty 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 the consensus estimate of $0.64 by $0.02. Camtek had a net margin of 25.93% and a return on equity of 22.57%. The firm had revenue of $102.60 million during the quarter, compared to analysts’ expectations of $101.26 million. During the same quarter last year, the company posted $0.38 EPS. The company’s quarterly revenue was up 39.4% compared to the same quarter last year. Equities research analysts forecast that Camtek Ltd. will post 2.45 earnings per share for the current year.

Institutional Trading of Camtek

Several institutional investors and hedge funds have recently added to or reduced their stakes in CAMT. Lord Abbett & CO. LLC acquired a new stake in shares of Camtek during the 1st quarter worth approximately $55,026,000. Y.D. More Investments Ltd grew its stake in shares of Camtek by 723.7% during the second quarter. Y.D. More Investments Ltd now owns 626,973 shares of the semiconductor company’s stock worth $78,709,000 after purchasing an additional 550,854 shares during the period. Fred Alger Management LLC acquired a new position in Camtek in the second quarter valued at about $8,386,000. Millennium Management LLC boosted its holdings in Camtek by 34.0% during the second quarter. Millennium Management LLC now owns 217,617 shares of the semiconductor company’s stock worth $27,254,000 after buying an additional 55,234 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Camtek by 5.7% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 882,165 shares of the semiconductor company’s stock worth $73,899,000 after buying an additional 47,900 shares during the period. 41.93% of the stock is owned by 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.