Camtek (NASDAQ:CAMT) Shares Gap Up After Analyst Upgrade

Camtek Ltd. (NASDAQ:CAMT) gapped up prior to trading on Thursday after Barclays raised their price target on the stock from $43.00 to $50.00. The stock had previously closed at $42.62, but opened at $43.72. Barclays currently has an overweight rating on the stock. Camtek shares last traded at $44.35, with a volume of 5,148 shares.

CAMT has been the topic of a number of other research reports. Needham & Company LLC increased their price target on shares of Camtek from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, January 6th. Zacks Investment Research lowered shares of Camtek from a “buy” rating to a “hold” rating in a report on Tuesday, December 28th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $45.20.

Several hedge funds have recently added to or reduced their stakes in CAMT. Wasatch Advisors Inc. bought a new position in shares of Camtek during the 2nd quarter valued at $37,932,000. Meitav Dash Investments Ltd. grew its holdings in Camtek by 252.7% in the 3rd quarter. Meitav Dash Investments Ltd. now owns 591,080 shares of the semiconductor company’s stock worth $24,155,000 after acquiring an additional 423,503 shares during the last quarter. Morgan Stanley grew its holdings in Camtek by 1,555.6% in the 2nd quarter. Morgan Stanley now owns 216,332 shares of the semiconductor company’s stock worth $8,158,000 after acquiring an additional 203,265 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Camtek by 10.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,863,309 shares of the semiconductor company’s stock worth $75,483,000 after acquiring an additional 172,399 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Camtek by 122.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 201,500 shares of the semiconductor company’s stock worth $8,163,000 after acquiring an additional 111,100 shares during the last quarter. 33.12% of the stock is currently owned by institutional investors.

The firm has a market cap of $1.86 billion, a P/E ratio of 34.73 and a beta of 1.47. The business’s fifty day simple moving average is $44.40 and its 200-day simple moving average is $40.64.

Camtek (NASDAQ:CAMT) last posted its earnings results on Wednesday, October 27th. The semiconductor company reported $0.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.04. Camtek had a net margin of 22.61% and a return on equity of 21.91%. The firm had revenue of $70.69 million during the quarter, compared to analysts’ expectations of $70.03 million. During the same period last year, the company posted $0.15 EPS. The company’s quarterly revenue was up 76.4% compared to the same quarter last year. Sell-side analysts predict that Camtek Ltd. will post 1.46 EPS for the current year.

Camtek Company Profile (NASDAQ:CAMT)

Camtek Ltd. manufactures metrology and inspection equipment, and provides software solutions serving the advanced packaging, memory, complementary metaloxidesemiconductor image sensors, micro-electro mechanical systems radio frequency and other segments in the Semiconductors industry. The company provides solutions and yield-enhancement data, enabling manufacturers to improve yield and drive down their production costs.

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