Camtek (NASDAQ:CAMT) Shares Gap Down – Here’s What Happened

Camtek Ltd. (NASDAQ:CAMT)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $141.84, but opened at $131.53. Camtek shares last traded at $131.2750, with a volume of 86,510 shares trading hands.

Wall Street Analyst Weigh In

CAMT has been the topic of a number of recent analyst reports. Oppenheimer lifted their price target on Camtek from $180.00 to $195.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Wall Street Zen raised Camtek from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Weiss Ratings upgraded Camtek from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, May 14th. Jefferies Financial Group lifted their target price on Camtek from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Finally, Morgan Stanley boosted their price target on Camtek from $163.00 to $167.00 and gave the stock an “equal weight” rating in a research report on Monday. Seven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $174.67.

Camtek Trading Down 6.9%

The company has a current ratio of 8.35, a quick ratio of 7.46 and a debt-to-equity ratio of 0.71. The firm has a 50-day moving average price of $175.21 and a 200-day moving average price of $158.93. The company has a market capitalization of $6.16 billion, a price-to-earnings ratio of 152.22, a PEG ratio of 3.42 and a beta of 1.55.

Camtek (NASDAQ:CAMT) last issued its quarterly earnings results on Tuesday, May 12th. The semiconductor company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $121.66 million during the quarter, compared to the consensus estimate of $120.15 million. Camtek had a net margin of 9.63% and a return on equity of 22.26%. Camtek’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.79 EPS. As a group, sell-side analysts predict that Camtek Ltd. will post 3.14 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Raiffeisen Bank International AG boosted its position in Camtek by 26.3% during the 4th quarter. Raiffeisen Bank International AG now owns 120,000 shares of the semiconductor company’s stock worth $13,032,000 after acquiring an additional 25,000 shares during the period. Vanguard Group Inc. increased its position in Camtek by 0.7% in the 4th 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 last quarter. JPMorgan Chase & Co. raised its stake in shares of Camtek by 42.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 51,694 shares of the semiconductor company’s stock worth $5,430,000 after purchasing an additional 15,490 shares in the last quarter. Ariose Capital Management Ltd acquired a new stake in shares of Camtek during the 4th quarter valued at about $3,903,000. Finally, Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management increased its holdings in Camtek by 35.6% in the fourth quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management now owns 42,031 shares of the semiconductor company’s stock worth $4,470,000 after buying an additional 11,031 shares during the last quarter. 41.93% of the stock is currently owned by institutional investors and hedge funds.

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.