Fred Alger Management LLC Raises Stock Position in Camtek Ltd. (NASDAQ:CAMT)

Fred Alger Management LLC raised its holdings in shares of Camtek Ltd. (NASDAQ:CAMT) by 224.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 217,474 shares of the semiconductor company’s stock after acquiring an additional 150,513 shares during the quarter. Fred Alger Management LLC’s holdings in Camtek were worth $17,365,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Camtek by 16.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 486,606 shares of the semiconductor company’s stock valued at $38,855,000 after purchasing an additional 67,250 shares during the period. Blueshift Asset Management LLC purchased a new stake in Camtek during the 3rd quarter valued at approximately $624,000. Cynosure Group LLC raised its position in shares of Camtek by 30.7% during the third quarter. Cynosure Group LLC now owns 4,430 shares of the semiconductor company’s stock valued at $354,000 after buying an additional 1,041 shares during the last quarter. Quantbot Technologies LP lifted its holdings in shares of Camtek by 34.8% in the third quarter. Quantbot Technologies LP now owns 26,898 shares of the semiconductor company’s stock worth $2,148,000 after buying an additional 6,951 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Camtek by 3,005.3% in the third quarter. The Manufacturers Life Insurance Company now owns 330,716 shares of the semiconductor company’s stock worth $26,408,000 after buying an additional 320,066 shares in the last quarter. 41.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on CAMT. StockNews.com upgraded shares of Camtek from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Needham & Company LLC restated a “buy” rating and set a $95.00 price target on shares of Camtek in a report on Wednesday, November 13th. Northland Securities lifted their price objective on Camtek from $99.00 to $102.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. B. Riley lowered their target price on Camtek from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, Northland Capmk upgraded shares of Camtek from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $110.57.

Camtek Stock Performance

NASDAQ:CAMT opened at $74.50 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.36 and a current ratio of 5.28. The stock’s fifty day moving average is $78.66 and its 200 day moving average is $94.67. The firm has a market capitalization of $3.38 billion, a PE ratio of 34.33, a PEG ratio of 1.31 and a beta of 1.38. Camtek Ltd. has a fifty-two week low of $59.33 and a fifty-two week high of $140.50.

Camtek (NASDAQ:CAMT) last announced its earnings results on Tuesday, November 12th. The semiconductor company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.06. Camtek had a net margin of 26.53% and a return on equity of 24.21%. The business had revenue of $112.30 million for the quarter, compared to the consensus estimate of $108.51 million. During the same quarter in the prior year, the firm posted $0.46 earnings per share. The business’s revenue for the quarter was up 39.5% on a year-over-year basis. On average, sell-side analysts anticipate that Camtek Ltd. will post 2.53 earnings per share for the current year.

Camtek 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.