Camtek (NASDAQ:CAMT) Reaches New 52-Week High – Here’s Why

Shares of Camtek Ltd. (NASDAQ:CAMT) reached a new 52-week high on Wednesday . The stock traded as high as $165.43 and last traded at $162.2650, with a volume of 168014 shares trading hands. The stock had previously closed at $157.00.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CAMT shares. Wall Street Zen raised shares of Camtek from a “sell” rating to a “hold” rating in a report on Sunday, January 11th. Barclays reissued an “overweight” rating and set a $155.00 price objective on shares of Camtek in a research report on Thursday, January 15th. Bank of America upped their target price on shares of Camtek from $140.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Cantor Fitzgerald reiterated a “neutral” rating and set a $120.00 target price on shares of Camtek in a research note on Tuesday, December 16th. Finally, Evercore restated an “outperform” rating and issued a $190.00 price target on shares of Camtek in a research report on Wednesday. Eight equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $142.17.

Camtek Price Performance

The company has a market cap of $7.75 billion, a price-to-earnings ratio of 188.38, a PEG ratio of 3.49 and a beta of 1.57. The company has a 50-day simple moving average of $131.91 and a 200-day simple moving average of $112.35. The company has a debt-to-equity ratio of 0.90, a quick ratio of 6.52 and a current ratio of 7.58.

Camtek (NASDAQ:CAMT) last posted its quarterly earnings results on Wednesday, February 18th. The semiconductor company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.02). Camtek had a net margin of 9.86% and a return on equity of 23.82%. The business had revenue of $128.12 million during the quarter, compared to analysts’ expectations of $127.10 million. During the same quarter last year, the firm earned $0.77 earnings per share. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. As a group, research analysts predict that Camtek Ltd. will post 2.93 earnings per share for the current year.

Institutional Investors Weigh In On Camtek

A number of hedge funds and other institutional investors have recently modified their holdings of CAMT. Engineers Gate Manager LP grew its holdings in shares of Camtek by 220.9% in the 4th quarter. Engineers Gate Manager LP now owns 6,454 shares of the semiconductor company’s stock worth $686,000 after acquiring an additional 4,443 shares during the period. Boothbay Fund Management LLC increased its position in shares of Camtek by 126.1% in the fourth quarter. Boothbay Fund Management LLC now owns 11,852 shares of the semiconductor company’s stock valued at $1,260,000 after buying an additional 6,611 shares in the last quarter. Altshuler Shaham Ltd raised its stake in shares of Camtek by 33.4% during the 4th quarter. Altshuler Shaham Ltd now owns 8,472 shares of the semiconductor company’s stock worth $910,000 after buying an additional 2,119 shares during the last quarter. EFG International AG purchased a new stake in shares of Camtek in the 4th quarter worth about $4,092,000. Finally, Amundi grew its stake in Camtek by 106.8% in the 4th quarter. Amundi now owns 8,738 shares of the semiconductor company’s stock valued at $929,000 after acquiring an additional 4,513 shares during the last quarter. 41.93% of the stock is currently owned by institutional investors and hedge funds.

Camtek Company Profile

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.