Camtek (NASDAQ:CAMT) Shares Down 6.1% – Here’s Why

Camtek Ltd. (NASDAQ:CAMT)’s stock price fell 6.1% during mid-day trading on Monday . The company traded as low as $88.69 and last traded at $88.80. 203,907 shares were traded during trading, a decline of 67% from the average session volume of 622,119 shares. The stock had previously closed at $94.54.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CAMT shares. Barclays reduced their price target on Camtek from $140.00 to $120.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Cantor Fitzgerald started coverage on Camtek in a research report on Monday, January 13th. They set a “neutral” rating and a $100.00 price target for the company. Northland Securities increased their price target on Camtek from $102.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. Needham & Company LLC reissued a “buy” rating and set a $95.00 price target on shares of Camtek in a research report on Wednesday, November 13th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $105.00 price target on shares of Camtek in a research report on Thursday, December 12th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Camtek presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.44.

Camtek Stock Performance

The company has a market cap of $4.24 billion, a P/E ratio of 43.11, a price-to-earnings-growth ratio of 1.48 and a beta of 1.34. The company has a quick ratio of 4.36, a current ratio of 5.28 and a debt-to-equity ratio of 0.38. The stock has a 50 day moving average price of $85.62 and a two-hundred day moving average price of $84.91.

Camtek (NASDAQ:CAMT) last announced 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. Camtek had a return on equity of 24.21% and a net margin of 26.53%. The company had revenue of $112.30 million for the quarter, compared to analyst estimates of $108.51 million. During the same quarter last year, the company earned $0.46 earnings per share. The firm’s quarterly revenue was up 39.5% compared to the same quarter last year. On average, research analysts predict that Camtek Ltd. will post 2.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Camtek

Several hedge funds and other institutional investors have recently modified their holdings of CAMT. Advisors Asset Management Inc. increased its stake 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 purchasing an additional 145 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Camtek during the 3rd quarter worth about $53,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Camtek by 23,300.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 468 shares of the semiconductor company’s stock worth $59,000 after buying an additional 466 shares during the period. Sanctuary Advisors LLC acquired a new position in Camtek during the 4th quarter worth about $209,000. Finally, Prentiss Smith & Co. Inc. lifted its holdings in Camtek by 10.8% during the 4th quarter. Prentiss Smith & Co. Inc. now owns 2,786 shares of the semiconductor company’s stock worth $225,000 after buying an additional 272 shares during the period. Institutional investors own 41.93% of the company’s stock.

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.