Camtek (NASDAQ:CAMT) Shares Gap Up Following Analyst Upgrade

Camtek Ltd. (NASDAQ:CAMT)’s stock price gapped up prior to trading on Tuesday after Bank of America raised their price target on the stock from $140.00 to $160.00. The stock had previously closed at $137.80, but opened at $148.69. Bank of America currently has a buy rating on the stock. Camtek shares last traded at $141.5050, with a volume of 272,009 shares.

Several other equities analysts have also commented on the stock. Morgan Stanley began coverage on shares of Camtek in a research report on Monday, December 1st. They issued an “equal weight” rating and a $110.00 price objective for the company. Jefferies Financial Group upped their price objective on shares of Camtek from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, December 15th. Wall Street Zen upgraded shares of Camtek from a “sell” rating to a “hold” rating in a research report on Sunday. The Goldman Sachs Group reissued a “neutral” rating and issued a $141.00 price target on shares of Camtek in a research note on Friday. Finally, Barclays boosted their target price on Camtek from $85.00 to $120.00 and gave the stock an “overweight” rating in a report on Tuesday, November 11th. Eight investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Camtek has a consensus rating of “Moderate Buy” and an average price target of $129.67.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Advisory Services Network LLC acquired a new position in Camtek during the third quarter worth $32,000. Advisors Asset Management Inc. lifted its stake in shares of Camtek by 61.6% in the first quarter. Advisors Asset Management Inc. now owns 769 shares of the semiconductor company’s stock valued at $45,000 after purchasing an additional 293 shares during the period. Rothschild Investment LLC acquired a new position in Camtek during the third quarter worth about $54,000. Optimum Investment Advisors increased its holdings in Camtek by 60.0% in the second quarter. Optimum Investment Advisors now owns 1,200 shares of the semiconductor company’s stock valued at $101,000 after buying an additional 450 shares in the last quarter. Finally, Aventura Private Wealth LLC acquired a new stake in shares of Camtek during the 4th quarter valued at approximately $108,000. 41.93% of the stock is currently owned by hedge funds and other institutional investors.

Camtek Price Performance

The firm has a market cap of $6.50 billion, a PE ratio of 158.48, a price-to-earnings-growth ratio of 2.84 and a beta of 1.55. The company has a current ratio of 7.58, a quick ratio of 6.52 and a debt-to-equity ratio of 0.90. The company has a 50 day moving average price of $111.27 and a 200 day moving average price of $102.12.

About Camtek

Camtek Ltd. (NASDAQ: CAMT) is a provider of automated inspection and metrology solutions for the semiconductor and printed circuit board (PCB) industries. The company develops, manufactures and markets a suite of inline and stand-alone systems that perform high‐resolution 2D and 3D measurements, defect review and process control. Its products are used by integrated device manufacturers, foundries, OSAT (outsourced semiconductor assembly and test) providers, and PCB fabricators to optimize yield, improve product quality and reduce production costs.

Camtek’s core offerings include wafer inspection systems that detect and classify defects on patterned wafers, patterned wafer metrology tools for overlay and critical dimension measurements, and advanced packaging inspection platforms for 3D ICs and fan-out wafer-level packaging.