Camtek (NASDAQ:CAMT) Shares Gap Up – Here’s What Happened

Camtek Ltd. (NASDAQ:CAMT) shares gapped up before the market opened on Thursday . The stock had previously closed at $93.48, but opened at $98.40. Camtek shares last traded at $98.07, with a volume of 94,440 shares changing hands.

Analysts Set New Price Targets

CAMT has been the subject of a number of recent research reports. Needham & Company LLC restated a “buy” rating and issued a $95.00 target price on shares of Camtek in a research note on Wednesday, November 13th. Northland Securities lifted their target price on shares of Camtek from $102.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. Barclays dropped their price target on shares of Camtek from $140.00 to $120.00 and set an “overweight” rating for the company in a research report on Friday. StockNews.com upgraded Camtek from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $105.00 target price on shares of Camtek in a report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Camtek currently has an average rating of “Moderate Buy” and a consensus target price of $112.44.

Camtek Price Performance

The company has a 50-day moving average price of $80.58 and a 200-day moving average price of $88.10. The firm has a market capitalization of $4.70 billion, a P/E ratio of 47.75, a price-to-earnings-growth ratio of 1.41 and a beta of 1.33. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.36 and a current ratio of 5.28.

Camtek (NASDAQ:CAMT) last announced its quarterly earnings results on Tuesday, November 12th. The semiconductor company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. The company had revenue of $112.30 million for the quarter, compared to analysts’ expectations of $108.51 million. Camtek had a net margin of 26.53% and a return on equity of 24.21%. The business’s quarterly revenue was up 39.5% compared to the same quarter last year. During the same period last year, the firm posted $0.46 earnings per share. On average, sell-side analysts predict that Camtek Ltd. will post 2.53 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of Camtek by 21.5% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,515,452 shares of the semiconductor company’s stock valued at $121,734,000 after acquiring an additional 268,258 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in Camtek by 7.5% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 856,453 shares of the semiconductor company’s stock valued at $68,388,000 after purchasing an additional 60,088 shares in the last quarter. Two Sigma Advisers LP increased its position in shares of Camtek by 107.5% during the 3rd quarter. Two Sigma Advisers LP now owns 720,700 shares of the semiconductor company’s stock worth $57,548,000 after purchasing an additional 373,400 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Camtek by 16.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 486,606 shares of the semiconductor company’s stock valued at $38,855,000 after buying an additional 67,250 shares during the last quarter. Finally, Meitav Investment House Ltd. grew its stake in shares of Camtek by 14.1% in the third quarter. Meitav Investment House Ltd. now owns 373,044 shares of the semiconductor company’s stock valued at $29,887,000 after buying an additional 46,016 shares in the last quarter. Institutional investors and hedge funds own 41.93% of the company’s stock.

Camtek Company Profile

Camtek Ltd., together with its subsidiaries, develops, manufactures, and sells inspection and metrology equipment for semiconductor industry. The company provides Eagle-i, a system that delivers 2D inspection and metrology capabilities; Eagle-AP, which addresses the advanced packaging market using software and hardware technologies that deliver superior 2D and 3D inspection and metrology capabilities on the same platform; and Golden Eagle, a panel inspection and metrology system to address the challenges fanout wafer level packaging applications.