Acadian Asset Management LLC Sells 61,987 Shares of Camtek Ltd. (NASDAQ:CAMT)

Acadian Asset Management LLC cut its holdings in shares of Camtek Ltd. (NASDAQ:CAMT) by 7.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 729,276 shares of the semiconductor company’s stock after selling 61,987 shares during the quarter. Acadian Asset Management LLC owned approximately 1.62% of Camtek worth $61,071,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Camtek by 3.7% during the third quarter. Vanguard Group Inc. now owns 937,408 shares of the semiconductor company’s stock valued at $58,363,000 after purchasing an additional 33,820 shares in the last quarter. Natixis Advisors L.P. purchased a new stake in shares of Camtek during the 4th quarter valued at about $1,099,000. Axiom Investors LLC DE grew its position in Camtek by 288.5% in the fourth quarter. Axiom Investors LLC DE now owns 90,310 shares of the semiconductor company’s stock worth $6,266,000 after acquiring an additional 67,067 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Camtek by 5.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 171,810 shares of the semiconductor company’s stock worth $11,920,000 after acquiring an additional 8,368 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in Camtek during the fourth quarter valued at approximately $10,704,000. 41.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CAMT has been the subject of a number of recent analyst reports. Bank of America lifted their price target on shares of Camtek from $98.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Jefferies Financial Group initiated coverage on Camtek in a research note on Monday, May 13th. They issued a “buy” rating and a $120.00 target price on the stock. Northland Securities lowered shares of Camtek from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 16th. Northland Capmk downgraded shares of Camtek from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 16th. Finally, Needham & Company LLC boosted their price objective on shares of Camtek from $106.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, June 7th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Camtek has an average rating of “Moderate Buy” and a consensus target price of $103.63.

Camtek Stock Performance

CAMT stock traded up $4.66 during midday trading on Monday, hitting $113.14. 482,067 shares of the stock traded hands, compared to its average volume of 472,426. The stock’s fifty day simple moving average is $114.35 and its 200-day simple moving average is $91.92. The firm has a market cap of $5.08 billion, a P/E ratio of 63.70, a PEG ratio of 2.33 and a beta of 1.41. Camtek Ltd. has a 1-year low of $42.19 and a 1-year high of $140.50. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.66 and a quick ratio of 3.08.

Camtek (NASDAQ:CAMT) last announced its earnings results on Thursday, May 9th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. The firm had revenue of $97.01 million for the quarter, compared to analyst estimates of $93.75 million. Camtek had a return on equity of 20.94% and a net margin of 25.35%. On average, analysts expect that Camtek Ltd. will post 2.35 earnings per share for the current year.

Camtek Profile

Camtek Ltd., together with its subsidiaries, develops, manufactures, and sells inspection and metrology equipment for semiconductor industry. The company provides Eagle-i, a system that delivers 2D inspection and metrology capabilities; Eagle-AP, which addresses the advanced packaging market using software and hardware technologies that deliver superior 2D and 3D inspection and metrology capabilities on the same platform; and Golden Eagle, a panel inspection and metrology system to address the challenges fanout wafer level packaging applications.