Camtek (NASDAQ:CAMT) Stock Price Up 3.4% – Here’s Why

Camtek Ltd. (NASDAQ:CAMT)’s stock price rose 3.4% during trading on Thursday . The stock traded as high as $67.03 and last traded at $66.84. Approximately 212,934 shares were traded during trading, a decline of 62% from the average daily volume of 553,417 shares. The stock had previously closed at $64.67.

Analyst Ratings Changes

CAMT has been the topic of several research reports. Stifel Nicolaus reissued a “buy” rating and set a $105.00 price objective on shares of Camtek in a research report on Thursday, December 12th. Barclays lowered their price objective on shares of Camtek from $140.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Cantor Fitzgerald initiated coverage on shares of Camtek in a research report on Monday, January 13th. They set a “neutral” rating and a $100.00 price objective on the stock. Northland Securities raised their price objective on shares of Camtek from $102.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $110.00 target price on shares of Camtek in a report on Thursday, February 13th. Two research 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $114.11.

Camtek Price Performance

The company has a debt-to-equity ratio of 0.36, a current ratio of 5.00 and a quick ratio of 4.11. The company’s 50 day moving average is $82.32 and its 200 day moving average is $80.32. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of 27.29, a PEG ratio of 1.89 and a beta of 1.38.

Camtek (NASDAQ:CAMT) last announced its quarterly earnings data on Wednesday, February 12th. The semiconductor company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.06). Camtek had a net margin of 27.61% and a return on equity of 24.99%. Research analysts forecast that Camtek Ltd. will post 2.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Camtek

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Huntington National Bank raised its position in Camtek by 42.4% during the fourth quarter. Huntington National Bank now owns 413 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 123 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in Camtek by 78.8% in the third quarter. Advisors Asset Management Inc. now owns 329 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 145 shares during the period. Cetera Investment Advisers grew its holdings in Camtek by 3.3% in the fourth quarter. Cetera Investment Advisers now owns 5,288 shares of the semiconductor company’s stock valued at $427,000 after purchasing an additional 171 shares during the period. Prentiss Smith & Co. Inc. grew its holdings in Camtek by 10.8% in the fourth quarter. Prentiss Smith & Co. Inc. now owns 2,786 shares of the semiconductor company’s stock valued at $225,000 after purchasing an additional 272 shares during the period. Finally, Jones Financial Companies Lllp grew its holdings in Camtek by 364.0% in the fourth quarter. Jones Financial Companies Lllp now owns 413 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 324 shares during the period. 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.