Camtek (NASDAQ:CAMT) Shares Gap Up – Here’s What Happened

Camtek Ltd. (NASDAQ:CAMT)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $136.78, but opened at $146.35. Camtek shares last traded at $145.6220, with a volume of 96,806 shares.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. B. Riley Financial reissued a “buy” rating on shares of Camtek in a research note on Monday, April 20th. Needham & Company LLC upped their price objective on shares of Camtek from $175.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Evercore reiterated an “outperform” rating and set a $200.00 price objective on shares of Camtek in a research report on Wednesday, May 13th. Stifel Nicolaus reissued a “hold” rating and set a $185.00 target price on shares of Camtek in a research note on Friday, April 17th. Finally, Wall Street Zen upgraded shares of Camtek from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $174.67.

Camtek Price Performance

The company has a quick ratio of 7.46, a current ratio of 8.35 and a debt-to-equity ratio of 0.71. The business has a 50-day moving average price of $170.11 and a two-hundred day moving average price of $160.17. The company has a market capitalization of $6.88 billion, a price-to-earnings ratio of 169.56, a price-to-earnings-growth ratio of 3.45 and a beta of 1.55.

Camtek (NASDAQ:CAMT) last released its quarterly earnings data on Tuesday, May 12th. The semiconductor company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $121.66 million for the quarter, compared to analyst estimates of $120.15 million. Camtek had a net margin of 9.63% and a return on equity of 22.26%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the firm earned $0.79 earnings per share. As a group, research analysts anticipate that Camtek Ltd. will post 3.14 EPS for the current year.

Hedge Funds Weigh In On Camtek

A number of hedge funds have recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Camtek by 38.2% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,302,009 shares of the semiconductor company’s stock worth $349,008,000 after acquiring an additional 636,773 shares in the last quarter. Wasatch Advisors LP grew its position in Camtek by 18.6% in the 2nd quarter. Wasatch Advisors LP now owns 3,506,727 shares of the semiconductor company’s stock worth $296,529,000 after purchasing an additional 550,072 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Camtek in the 4th quarter worth about $57,772,000. Millennium Management LLC increased its stake in Camtek by 169.8% in the 3rd quarter. Millennium Management LLC now owns 479,053 shares of the semiconductor company’s stock valued at $50,325,000 after buying an additional 301,484 shares during the last quarter. Finally, Nuveen LLC increased its stake in Camtek by 723.2% in the 4th quarter. Nuveen LLC now owns 183,859 shares of the semiconductor company’s stock valued at $19,758,000 after buying an additional 161,524 shares during the last quarter. 41.93% of the stock is owned by hedge funds and other institutional investors.

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.