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

Camtek Ltd. (NASDAQ:CAMT) shares gapped up prior to trading on Tuesday . The stock had previously closed at $147.09, but opened at $156.36. Camtek shares last traded at $155.2740, with a volume of 60,811 shares changing hands.

Analyst Ratings Changes

A number of brokerages have recently commented on CAMT. Needham & Company LLC boosted their price target on Camtek from $175.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. B. Riley Financial reiterated a “buy” rating on shares of Camtek in a report on Monday, April 20th. Weiss Ratings raised Camtek from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, May 14th. Oppenheimer boosted their target price on Camtek from $180.00 to $195.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $185.00 price target on shares of Camtek in a research report on Friday, April 17th. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Camtek currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.67.

Camtek Stock Up 0.4%

The firm’s 50-day simple moving average is $164.15 and its 200 day simple moving average is $162.19. The company has a debt-to-equity ratio of 0.71, a quick ratio of 7.46 and a current ratio of 8.35. The stock has a market capitalization of $7.32 billion, a P/E ratio of 180.22, a PEG ratio of 3.75 and a beta of 1.55.

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

Institutional Investors Weigh In On Camtek

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Annex Advisory Services LLC grew its stake in shares of Camtek by 51.1% in the second quarter. Annex Advisory Services LLC now owns 15,272 shares of the semiconductor company’s stock valued at $2,491,000 after buying an additional 5,167 shares in the last quarter. NewEdge Advisors LLC raised its position in Camtek by 6.0% during the first quarter. NewEdge Advisors LLC now owns 2,072 shares of the semiconductor company’s stock worth $314,000 after acquiring an additional 117 shares in the last quarter. Cim LLC lifted its stake in Camtek by 168.7% in the first quarter. Cim LLC now owns 15,536 shares of the semiconductor company’s stock valued at $2,355,000 after acquiring an additional 9,755 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Camtek by 46.8% in the first quarter. EverSource Wealth Advisors LLC now owns 298 shares of the semiconductor company’s stock valued at $45,000 after acquiring an additional 95 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its stake in Camtek by 149.1% in the first quarter. Lazard Asset Management LLC now owns 5,413 shares of the semiconductor company’s stock valued at $821,000 after acquiring an additional 3,240 shares during the last quarter. Institutional investors own 41.93% of the company’s stock.

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.