Camtek (NASDAQ:CAMT) Price Target Raised to $80.00 at Cantor Fitzgerald

Camtek (NASDAQ:CAMT) had its price objective increased by equities researchers at Cantor Fitzgerald from $70.00 to $80.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 6.88% from the company’s previous close.

CAMT has been the topic of several other research reports. Northland Securities set a $105.00 price target on shares of Camtek in a research note on Wednesday, May 14th. Needham & Company LLC decreased their price objective on Camtek from $110.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, May 14th. Wall Street Zen raised Camtek from a “sell” rating to a “hold” rating in a research report on Wednesday, May 21st. Barclays reduced their target price on shares of Camtek from $120.00 to $85.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Finally, Bank of America lowered their price target on shares of Camtek from $105.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.56.

Camtek Stock Up 1.2%

CAMT stock opened at $74.85 on Tuesday. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 28.68, a P/E/G ratio of 2.01 and a beta of 1.29. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.27 and a current ratio of 5.28. The business’s 50-day moving average is $67.90 and its two-hundred day moving average is $74.32. Camtek has a fifty-two week low of $47.41 and a fifty-two week high of $140.50.

Camtek (NASDAQ:CAMT) last released its quarterly earnings results on Tuesday, May 13th. The semiconductor company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.77 by $0.02. The firm had revenue of $118.64 million during the quarter, compared to analyst estimates of $119.00 million. Camtek had a net margin of 28.40% and a return on equity of 24.57%. The business’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.63 EPS. As a group, analysts forecast that Camtek will post 2.93 earnings per share for the current year.

Hedge Funds Weigh In On Camtek

Hedge funds have recently modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Camtek by 110.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,015,307 shares of the semiconductor company’s stock valued at $59,527,000 after acquiring an additional 532,944 shares in the last quarter. Fred Alger Management LLC purchased a new position in shares of Camtek during the first quarter valued at about $453,000. Goldman Sachs Group Inc. increased its holdings in shares of Camtek by 12.1% in the first quarter. Goldman Sachs Group Inc. now owns 149,223 shares of the semiconductor company’s stock worth $8,749,000 after purchasing an additional 16,117 shares during the last quarter. Petrus Trust Company LTA lifted its position in shares of Camtek by 12.9% in the first quarter. Petrus Trust Company LTA now owns 3,706 shares of the semiconductor company’s stock worth $217,000 after buying an additional 422 shares in the last quarter. Finally, Needham Investment Management LLC bought a new position in Camtek during the first quarter valued at approximately $2,785,000. Hedge funds and other institutional investors own 41.93% of the company’s stock.

About Camtek

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.