Camtek (NASDAQ:CAMT) Shares Gap Down – What’s Next?

Camtek Ltd. (NASDAQ:CAMT) shares gapped down before the market opened on Monday . The stock had previously closed at $119.12, but opened at $109.00. Camtek shares last traded at $110.2950, with a volume of 229,476 shares traded.

Analyst Ratings Changes

Several research firms have recently issued reports on CAMT. Northland Securities set a $140.00 price objective on Camtek in a research report on Tuesday, October 7th. Zacks Research upgraded Camtek to a “hold” rating in a research note on Monday, August 11th. Jefferies Financial Group set a $105.00 target price on Camtek and gave the company a “buy” rating in a research note on Tuesday, August 5th. Bank of America upgraded Camtek from a “neutral” rating to a “buy” rating and upped their target price for the company from $95.00 to $135.00 in a research note on Monday, October 13th. Finally, Needham & Company LLC raised their price target on shares of Camtek from $80.00 to $98.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $110.30.

Camtek Stock Down 7.8%

The firm’s 50-day moving average is $106.74 and its two-hundred day moving average is $89.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 4.38 and a current ratio of 5.41. The stock has a market cap of $5.01 billion, a P/E ratio of 40.25, a PEG ratio of 3.24 and a beta of 1.46.

Institutional Investors Weigh In On Camtek

A number of hedge funds and other institutional investors have recently made changes to their positions in CAMT. Rothschild Investment LLC bought a new stake in Camtek during the third quarter worth $54,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Camtek in the 1st quarter worth approximately $31,000. Advisors Asset Management Inc. raised its holdings in Camtek by 61.6% in the first quarter. Advisors Asset Management Inc. now owns 769 shares of the semiconductor company’s stock worth $45,000 after purchasing an additional 293 shares in the last quarter. Optimum Investment Advisors lifted its position in Camtek by 60.0% during the 2nd quarter. Optimum Investment Advisors now owns 1,200 shares of the semiconductor company’s stock valued at $101,000 after acquiring an additional 450 shares during the period. Finally, AE Wealth Management LLC bought a new stake in Camtek during the 3rd quarter valued at about $210,000. 41.93% of the stock is currently owned by institutional investors and hedge funds.

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.