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

Camtek Ltd. (NASDAQ:CAMT)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $166.90, but opened at $179.53. Camtek shares last traded at $167.82, with a volume of 61,642 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wall Street Zen raised shares of Camtek from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Stifel Nicolaus reissued a “hold” rating and issued a $185.00 price objective on shares of Camtek in a report on Friday, April 17th. Jefferies Financial Group boosted their target price on shares of Camtek from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Needham & Company LLC upped their target price on shares of Camtek from $175.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Finally, B. Riley Financial reiterated a “buy” rating on shares of Camtek in a research report on Monday, April 20th. Seven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.33.

Camtek Price Performance

The firm has a 50 day moving average price of $179.44 and a 200 day moving average price of $157.17. The company has a quick ratio of 7.46, a current ratio of 8.35 and a debt-to-equity ratio of 0.71. The stock has a market cap of $7.17 billion, a P/E ratio of 176.69, a P/E/G ratio of 4.04 and a beta of 1.54.

Camtek (NASDAQ:CAMT) last posted its quarterly earnings data 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 firm had revenue of $121.66 million for the quarter, compared to analysts’ expectations of $120.15 million. Camtek had a return on equity of 22.26% and a net margin of 9.63%.The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.79 EPS. On average, analysts forecast that Camtek Ltd. will post 3.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Camtek

A number of hedge funds have recently modified their holdings of CAMT. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Camtek by 38.2% during the 1st 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 period. Wasatch Advisors LP increased its stake in Camtek by 18.6% in the 2nd quarter. Wasatch Advisors LP now owns 3,506,727 shares of the semiconductor company’s stock worth $296,529,000 after buying an additional 550,072 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Camtek during the fourth quarter valued at about $57,772,000. Menora Mivtachim Holdings LTD. raised its holdings in Camtek by 31.1% during the third quarter. Menora Mivtachim Holdings LTD. now owns 2,099,351 shares of the semiconductor company’s stock valued at $220,537,000 after acquiring an additional 497,918 shares during the period. Finally, Millennium Management LLC lifted its position in shares of Camtek by 169.8% in the third quarter. Millennium Management LLC now owns 479,053 shares of the semiconductor company’s stock valued at $50,325,000 after acquiring an additional 301,484 shares in the last quarter. 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.