Camtek (NASDAQ:CAMT) Shares Gap Up – Still a Buy?

Camtek Ltd. (NASDAQ:CAMT) shares gapped up prior to trading on Tuesday . The stock had previously closed at $147.09, but opened at $156.36. Camtek shares last traded at $155.2740, with a volume of 60,811 shares changing hands.

Analysts Set New Price Targets

CAMT has been the subject of a number of recent analyst reports. Barclays raised their price target on shares of Camtek from $175.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Northland Securities set a $174.00 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 objective on shares of Camtek in a research note on Friday, April 17th. Needham & Company LLC increased their price objective on shares of Camtek from $175.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Finally, Weiss Ratings raised shares of Camtek from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, May 14th. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $174.67.

Camtek Stock Performance

The company has a fifty day moving average of $164.76 and a two-hundred day moving average of $161.48. The stock has a market capitalization of $7.34 billion, a P/E ratio of 181.00, a price-to-earnings-growth ratio of 3.51 and a beta of 1.55. The company has a debt-to-equity ratio of 0.71, a current ratio of 8.35 and a quick ratio of 7.46.

Camtek (NASDAQ:CAMT) last released its earnings results on Tuesday, May 12th. The semiconductor company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $121.66 million for the quarter, compared to the consensus estimate of $120.15 million. Camtek had a return on equity of 22.26% and a net margin of 9.63%.Camtek’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.79 EPS. On average, equities analysts anticipate that Camtek Ltd. will post 3.14 EPS for the current year.

Hedge Funds Weigh In On Camtek

Several large investors have recently added to or reduced their stakes in CAMT. Wasatch Advisors LP boosted its holdings in Camtek by 14.7% in the third quarter. Wasatch Advisors LP now owns 4,020,683 shares of the semiconductor company’s stock worth $422,373,000 after purchasing an additional 513,956 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its stake in Camtek by 38.2% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,302,009 shares of the semiconductor company’s stock valued at $349,008,000 after purchasing an additional 636,773 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Camtek by 12.0% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,318,396 shares of the semiconductor company’s stock worth $140,205,000 after purchasing an additional 140,796 shares during the period. Vanguard Group Inc. raised its holdings in shares of Camtek by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 1,086,242 shares of the semiconductor company’s stock worth $116,615,000 after purchasing an additional 7,220 shares during the period. Finally, Y.D. More Investments Ltd raised its holdings in shares of Camtek by 20.8% during the first quarter. Y.D. More Investments Ltd now owns 783,365 shares of the semiconductor company’s stock worth $114,901,000 after purchasing an additional 134,791 shares during the period. 41.93% of the stock is currently owned by institutional investors.

Camtek Company Profile

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.