Camtek (NASDAQ:CAMT) Shares Gap Up After Better-Than-Expected Earnings

Camtek Ltd. (NASDAQ:CAMT) shares gapped up before the market opened on Monday following a better than expected earnings announcement. The stock had previously closed at $155.35, but opened at $169.94. Camtek shares last traded at $153.8660, with a volume of 200,101 shares.

The semiconductor company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. Camtek had a return on equity of 22.26% and a net margin of 9.63%.The business had revenue of $133.24 million during the quarter, compared to the consensus estimate of $130.19 million. During the same period in the prior year, the business posted $0.79 EPS. The company’s revenue for the quarter was up 8.0% on a year-over-year basis.

Analyst Upgrades and Downgrades

CAMT has been the subject of a number of research analyst reports. Evercore reiterated an “outperform” rating and issued a $200.00 price target on shares of Camtek in a report on Wednesday, May 13th. Stifel Nicolaus reiterated a “hold” rating and set a $185.00 price target on shares of Camtek in a research report on Friday, April 17th. Barclays upped their price target on Camtek from $175.00 to $185.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. Jefferies Financial Group lifted their price objective on Camtek from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Finally, Weiss Ratings upgraded Camtek from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, May 14th. Seven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Camtek currently has a consensus rating of “Moderate Buy” and an average price target of $174.67.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Annex Advisory Services LLC grew its holdings in Camtek by 51.1% during the 2nd quarter. Annex Advisory Services LLC now owns 15,272 shares of the semiconductor company’s stock valued at $2,491,000 after buying an additional 5,167 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Camtek by 6.0% during the first quarter. NewEdge Advisors LLC now owns 2,072 shares of the semiconductor company’s stock valued at $314,000 after acquiring an additional 117 shares during the last quarter. Cim LLC increased its position in Camtek by 168.7% during the 1st quarter. Cim LLC now owns 15,536 shares of the semiconductor company’s stock worth $2,355,000 after purchasing an additional 9,755 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Camtek by 46.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 298 shares of the semiconductor company’s stock valued at $45,000 after purchasing an additional 95 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in Camtek by 149.1% in the 1st quarter. Lazard Asset Management LLC now owns 5,413 shares of the semiconductor company’s stock valued at $821,000 after purchasing an additional 3,240 shares in the last quarter. 41.93% of the stock is currently owned by institutional investors and hedge funds.

Camtek Stock Performance

The company has a market capitalization of $7.14 billion, a PE ratio of 176.45, a price-to-earnings-growth ratio of 3.73 and a beta of 1.58. The stock’s fifty day simple moving average is $159.00 and its 200-day simple moving average is $163.07. The company has a debt-to-equity ratio of 0.71, a quick ratio of 7.46 and a current ratio of 8.35.

About Camtek

Camtek Ltd. (NASDAQ: CAMT) is a provider of automated inspection and metrology solutions for the semiconductor and printed circuit board (PCB) industries. The company develops, manufactures and markets a suite of inline and stand-alone systems that perform high‐resolution 2D and 3D measurements, defect review and process control. Its products are used by integrated device manufacturers, foundries, OSAT (outsourced semiconductor assembly and test) providers, and PCB fabricators to optimize yield, improve product quality and reduce production costs.

Camtek’s core offerings include wafer inspection systems that detect and classify defects on patterned wafers, patterned wafer metrology tools for overlay and critical dimension measurements, and advanced packaging inspection platforms for 3D ICs and fan-out wafer-level packaging.