Camtek (NASDAQ:CAMT) Shares Gap Up – What’s Next?

Camtek Ltd. (NASDAQ:CAMT)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $166.90, but opened at $179.53. Camtek shares last traded at $167.82, with a volume of 61,642 shares trading hands.

Analysts Set New Price Targets

Several brokerages have recently commented on CAMT. Needham & Company LLC upped their price objective on shares of Camtek from $175.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Wall Street Zen upgraded shares of Camtek from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Oppenheimer boosted their target price on Camtek from $180.00 to $195.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Barclays upped their price target on Camtek from $175.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Finally, Stifel Nicolaus restated a “hold” rating and set a $185.00 price target on shares of Camtek in a research report on Friday, April 17th. Seven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Camtek has a consensus rating of “Moderate Buy” and an average target price of $174.33.

Camtek Price Performance

The company has a debt-to-equity ratio of 0.71, a current ratio of 8.35 and a quick ratio of 7.46. The company has a market capitalization of $7.82 billion, a PE ratio of 195.52, a price-to-earnings-growth ratio of 4.07 and a beta of 1.54. The stock’s 50 day simple moving average is $180.21 and its 200-day simple moving average is $156.84.

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

Hedge Funds Weigh In On Camtek

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp purchased a new position in Camtek in the 1st quarter valued at approximately $42,000. EverSource Wealth Advisors LLC increased its position in shares of Camtek by 46.8% during the first quarter. EverSource Wealth Advisors LLC now owns 298 shares of the semiconductor company’s stock worth $45,000 after acquiring an additional 95 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of Camtek by 202.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 299 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 200 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Camtek in the third quarter valued at $32,000. Finally, Global Retirement Partners LLC purchased a new position in Camtek in the fourth quarter valued at $52,000. Hedge funds and other institutional investors own 41.93% of the company’s stock.

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.