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

Camtek Ltd. (NASDAQ:CAMT)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $93.48, but opened at $98.40. Camtek shares last traded at $98.07, with a volume of 94,440 shares traded.

Analysts Set New Price Targets

CAMT has been the topic of several analyst reports. StockNews.com upgraded shares of Camtek from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Needham & Company LLC restated a “buy” rating and set a $95.00 price objective on shares of Camtek in a research report on Wednesday, November 13th. Northland Securities lifted their target price on Camtek from $102.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. Stifel Nicolaus reissued a “buy” rating and set a $105.00 target price on shares of Camtek in a research note on Thursday, December 12th. Finally, Cantor Fitzgerald started coverage on shares of Camtek in a research note on Monday. They issued a “neutral” rating and a $100.00 price target on the stock. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Camtek has an average rating of “Moderate Buy” and a consensus target price of $110.78.

Camtek Stock Performance

The company has a fifty day moving average price of $79.79 and a two-hundred day moving average price of $88.19. The company has a market capitalization of $4.48 billion, a P/E ratio of 45.53, a PEG ratio of 1.41 and a beta of 1.33. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.28 and a quick ratio of 4.36.

Camtek (NASDAQ:CAMT) last posted its earnings results on Tuesday, November 12th. The semiconductor company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. The firm had revenue of $112.30 million for the quarter, compared to analyst estimates of $108.51 million. Camtek had a net margin of 26.53% and a return on equity of 24.21%. The company’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.46 EPS. Equities analysts forecast that Camtek Ltd. will post 2.53 earnings per share for the current fiscal year.

Institutional Trading of Camtek

Institutional investors and hedge funds have recently bought and sold shares of the stock. Advisors Asset Management Inc. grew its position in shares of Camtek by 78.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 329 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 145 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Camtek by 23,300.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 468 shares of the semiconductor company’s stock worth $59,000 after acquiring an additional 466 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Camtek in the third quarter worth approximately $53,000. Gateway Wealth Partners LLC bought a new stake in Camtek in the second quarter valued at approximately $220,000. Finally, Susquehanna International Group Ltd. acquired a new stake in Camtek during the 2nd quarter valued at approximately $237,000. 41.93% of the stock is currently owned by institutional investors and hedge funds.

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.