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

Camtek Ltd. (NASDAQ:CAMT) 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.

Wall Street Analyst Weigh In

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

Camtek Trading Up 2.6 %

The business has a fifty day moving average of $79.45 and a 200-day moving average of $95.73. The company has a debt-to-equity ratio of 0.42, a quick ratio of 4.29 and a current ratio of 5.21. The company has a market capitalization of $3.66 billion, a P/E ratio of 45.83, a PEG ratio of 1.61 and a beta of 1.38.

Hedge Funds Weigh In On Camtek

A number of large investors have recently modified their holdings of CAMT. Fred Alger Management LLC purchased a new stake in Camtek in the 2nd quarter valued at $8,386,000. Meitav Investment House Ltd. raised its position in Camtek by 14.1% in the 3rd quarter. Meitav Investment House Ltd. now owns 373,044 shares of the semiconductor company’s stock valued at $29,887,000 after buying an additional 46,016 shares during the last quarter. Sei Investments Co. raised its position in Camtek by 41.5% in the 1st quarter. Sei Investments Co. now owns 94,473 shares of the semiconductor company’s stock valued at $7,914,000 after buying an additional 27,707 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in Camtek in the 2nd quarter valued at $1,423,000. Finally, Tidal Investments LLC purchased a new stake in Camtek in the 1st quarter valued at $1,716,000. 41.93% of the stock is currently 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.