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

Camtek Ltd. (NASDAQ:CAMT) shares gapped up before the market opened on Tuesday . The stock had previously closed at $78.70, but opened at $85.19. Camtek shares last traded at $87.95, with a volume of 378,343 shares traded.

Analyst Ratings Changes

A number of research firms have commented on CAMT. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price objective on shares of Camtek in a research report on Friday, August 2nd. Northland Capmk raised shares of Camtek from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Northland Securities raised shares of Camtek from a “market perform” rating to an “outperform” rating and set a $99.00 price objective for the company in a research report on Monday, August 5th. B. Riley reduced their price objective on shares of Camtek from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, StockNews.com raised shares of Camtek from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $116.57.

Camtek Price Performance

The company’s 50-day moving average is $79.45 and its two-hundred day moving average is $95.73. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.21 and a quick ratio of 4.29. The firm has a market cap of $3.66 billion, a P/E ratio of 45.83, a PEG ratio of 1.61 and a beta of 1.38.

Institutional Investors Weigh In On Camtek

Several institutional investors and hedge funds have recently bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd lifted its position in Camtek by 21.5% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,515,452 shares of the semiconductor company’s stock worth $121,734,000 after purchasing an additional 268,258 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its stake in Camtek by 7.5% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 856,453 shares of the semiconductor company’s stock worth $68,388,000 after acquiring an additional 60,088 shares in the last quarter. Hood River Capital Management LLC raised its stake in Camtek by 1.9% during the first quarter. Hood River Capital Management LLC now owns 691,780 shares of the semiconductor company’s stock worth $57,950,000 after acquiring an additional 13,094 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in Camtek during the first quarter worth about $55,026,000. Finally, Y.D. More Investments Ltd raised its stake in Camtek by 723.7% during the second quarter. Y.D. More Investments Ltd now owns 626,973 shares of the semiconductor company’s stock worth $78,709,000 after acquiring an additional 550,854 shares in the last quarter. Institutional investors own 41.93% of the company’s stock.

Camtek Company 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.