Camtek (NASDAQ:CAMT) Trading Down 8% – Here’s Why

Camtek Ltd. (NASDAQ:CAMT) shares were down 8% on Monday . The company traded as low as $135.23 and last traded at $136.2040. 61,571 shares changed hands during trading, a decline of 88% from the average session volume of 497,668 shares. The stock had previously closed at $147.97.

Analysts Set New Price Targets

CAMT has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Camtek in a research note on Tuesday, August 11th. Morgan Stanley dropped their price target on shares of Camtek from $167.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 11th. Finally, Stifel Nicolaus set a $170.00 price target on shares of Camtek in a report on Monday, August 10th. Seven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $173.25.

Camtek Trading Down 7.3%

The company has a fifty day moving average of $147.22 and a two-hundred day moving average of $163.04. The company has a current ratio of 7.38, a quick ratio of 6.58 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of 214.32, a price-to-earnings-growth ratio of 3.19 and a beta of 1.56.

Camtek (NASDAQ:CAMT) last announced its quarterly earnings results on Monday, August 10th. The semiconductor company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.76 by $0.02. Camtek had a return on equity of 21.58% and a net margin of 7.40%.The company had revenue of $133.24 million for the quarter, compared to the consensus estimate of $130.44 million. During the same quarter last year, the company posted $0.79 earnings per share. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, research analysts expect that Camtek Ltd. will post 3.27 EPS for the current year.

Insider Transactions at Camtek

In other Camtek news, Director Karni Yarl Andorn sold 3,176 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $164.40, for a total transaction of $522,134.40. Following the completion of the transaction, the director owned 1,343 shares of the company’s stock, valued at $220,789.20. The trade was a 70.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Ram Langer sold 6,387 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $172.32, for a total transaction of $1,100,607.84. Following the sale, the chief operating officer owned 17,532 shares of the company’s stock, valued at $3,021,114.24. This trade represents a 26.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 26,843 shares of company stock worth $4,514,249. Corporate insiders own 79.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CAMT. Daiwa Securities Group Inc. grew 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 worth $32,000 after acquiring an additional 200 shares during the last quarter. Advisory Services Network LLC bought a new stake in Camtek in the 3rd quarter valued at $32,000. IFP Advisors Inc boosted its holdings in Camtek by 576.7% in the 2nd quarter. IFP Advisors Inc now owns 203 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 173 shares during the period. Fifth Third Bancorp acquired a new stake in Camtek in the 1st quarter worth $42,000. Finally, EverSource Wealth Advisors LLC grew its position in Camtek by 46.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 298 shares of the semiconductor company’s stock worth $45,000 after purchasing an additional 95 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 an Israel-based semiconductor equipment company that develops, manufactures and sells automated inspection and metrology systems. Its technologies are used to detect defects, measure wafer and package characteristics, and support process control during semiconductor manufacturing and advanced packaging.

The company’s product portfolio includes inspection systems for wafers, substrates and semiconductor packages, as well as metrology solutions and related software.