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

Shares of Camtek Ltd. (NASDAQ:CAMT) gapped down prior to trading on Tuesday . The stock had previously closed at $207.46, but opened at $192.36. Camtek shares last traded at $181.4950, with a volume of 243,169 shares.

Wall Street Analysts Forecast Growth

CAMT has been the subject of a number of recent analyst reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $145.00 target price on shares of Camtek in a research report on Wednesday, February 18th. Bank of America increased their price objective on shares of Camtek from $140.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. B. Riley Financial reaffirmed a “buy” rating on shares of Camtek in a research report on Monday, April 20th. Morgan Stanley increased their price objective on shares of Camtek from $151.00 to $161.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 24th. Finally, Evercore reaffirmed an “outperform” rating and issued a $190.00 target price on shares of Camtek in a report on Wednesday, February 18th. Seven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $166.75.

Camtek Price Performance

The firm has a market cap of $7.81 billion, a P/E ratio of 182.55, a P/E/G ratio of 4.84 and a beta of 1.61. The firm’s fifty day simple moving average is $172.62 and its 200 day simple moving average is $142.47. The company has a debt-to-equity ratio of 0.84, a quick ratio of 7.31 and a current ratio of 8.35.

Camtek (NASDAQ:CAMT) last issued its earnings results on Tuesday, May 12th. The semiconductor company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. Camtek had a return on equity of 23.61% and a net margin of 10.23%.The firm had revenue of $121.66 million for the quarter, compared to analysts’ expectations of $120.15 million. During the same period in the previous year, the firm posted $0.79 earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year. As a group, analysts forecast that Camtek Ltd. will post 3.12 earnings per share for the current year.

Hedge Funds Weigh In On Camtek

Several large investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new position in Camtek during the third quarter valued at $1,503,000. Brown Capital Management LLC boosted its stake in shares of Camtek by 1.2% during the 3rd quarter. Brown Capital Management LLC now owns 1,153,943 shares of the semiconductor company’s stock worth $121,222,000 after purchasing an additional 13,806 shares during the period. JPMorgan Chase & Co. grew its holdings in Camtek by 42.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 51,694 shares of the semiconductor company’s stock valued at $5,430,000 after purchasing an additional 15,490 shares during the last quarter. Vanguard Group Inc. grew its holdings in Camtek by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,079,022 shares of the semiconductor company’s stock valued at $113,454,000 after purchasing an additional 15,432 shares during the last quarter. Finally, Ariose Capital Management Ltd purchased a new stake in Camtek in the 4th quarter worth about $3,903,000. Institutional investors own 41.93% of the company’s stock.

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.