Needham & Company LLC Reiterates “Buy” Rating for Camtek (NASDAQ:CAMT)

Needham & Company LLC reaffirmed their buy rating on shares of Camtek (NASDAQ:CAMT) in a research report released on Friday, Benzinga reports. The brokerage currently has a $140.00 price target on the semiconductor company’s stock.

Several other equities research analysts have also issued reports on the stock. B. Riley lifted their price target on shares of Camtek from $110.00 to $150.00 and gave the company a buy rating in a research note on Thursday, June 20th. Jefferies Financial Group began coverage on Camtek in a report on Monday, May 13th. They set a buy rating and a $120.00 target price on the stock. Northland Securities downgraded Camtek from an outperform rating to a market perform rating in a research note on Thursday, May 16th. Bank of America upped their price objective on Camtek from $98.00 to $112.00 and gave the stock a buy rating in a research note on Wednesday, May 22nd. Finally, Northland Capmk cut shares of Camtek from a strong-buy rating to a hold rating in a research note on Thursday, May 16th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Buy and a consensus target price of $109.75.

Camtek Stock Down 0.7 %

NASDAQ CAMT traded down $0.62 on Friday, reaching $85.90. The company had a trading volume of 441,790 shares, compared to its average volume of 521,905. The company’s fifty day moving average is $114.78 and its 200-day moving average is $94.10. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of 48.88, a price-to-earnings-growth ratio of 1.98 and a beta of 1.41. The company has a debt-to-equity ratio of 0.44, a quick ratio of 3.08 and a current ratio of 3.66. Camtek has a 1-year low of $44.08 and a 1-year high of $140.50.

Camtek (NASDAQ:CAMT) last posted its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.02. The company had revenue of $102.60 million during the quarter, compared to analysts’ expectations of $101.26 million. Camtek had a return on equity of 22.79% and a net margin of 25.93%. Camtek’s revenue for the quarter was up 39.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 earnings per share. On average, research analysts forecast that Camtek will post 2.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Camtek

Several large investors have recently modified their holdings of CAMT. Blue Trust Inc. boosted its stake in Camtek by 4.1% in the second quarter. Blue Trust Inc. now owns 2,721 shares of the semiconductor company’s stock valued at $341,000 after buying an additional 108 shares in the last quarter. Petra Financial Advisors Inc. boosted its stake in shares of Camtek by 1.5% in the 2nd quarter. Petra Financial Advisors Inc. now owns 8,290 shares of the semiconductor company’s stock valued at $1,038,000 after purchasing an additional 120 shares in the last quarter. Ellsworth Advisors LLC lifted its stake in Camtek by 3.4% in the 2nd quarter. Ellsworth Advisors LLC now owns 7,393 shares of the semiconductor company’s stock valued at $926,000 after purchasing an additional 245 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Camtek by 17.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,280 shares of the semiconductor company’s stock worth $158,000 after buying an additional 340 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Camtek by 574.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 445 shares of the semiconductor company’s stock worth $31,000 after buying an additional 379 shares in the last quarter. 41.93% of the stock is owned by institutional investors.

About Camtek

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.