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

Camtek Ltd. (NASDAQ:CAMT) shares gapped down prior to trading on Monday . The stock had previously closed at $100.75, but opened at $89.36. Camtek shares last traded at $88.85, with a volume of 396,628 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Needham & Company LLC restated a “buy” rating and issued a $95.00 price target on shares of Camtek in a report on Wednesday, November 13th. Northland Securities boosted 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. Barclays cut their price target on Camtek from $140.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. StockNews.com raised Camtek from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Stifel Nicolaus reissued a “buy” rating and issued 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 given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $112.44.

Camtek Stock Performance

The company’s 50-day simple moving average is $83.10 and its 200 day simple moving average is $86.47. The stock has a market cap of $3.98 billion, a P/E ratio of 40.58, a PEG ratio of 1.66 and a beta of 1.33. The company has a current ratio of 5.28, a quick ratio of 4.36 and a debt-to-equity ratio of 0.38.

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

Hedge Funds Weigh In On Camtek

Several large investors have recently modified their holdings of the business. Advisors Asset Management Inc. grew its stake in Camtek by 78.8% during the third quarter. Advisors Asset Management Inc. now owns 329 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 145 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Camtek in the third quarter worth $53,000. Northwestern Mutual Wealth Management Co. increased its stake in Camtek by 23,300.0% in the 2nd 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. Gateway Wealth Partners LLC purchased a new stake in shares of Camtek in the 2nd quarter valued at about $220,000. Finally, Prentiss Smith & Co. Inc. boosted its position in shares of Camtek by 10.8% during the 4th quarter. Prentiss Smith & Co. Inc. now owns 2,786 shares of the semiconductor company’s stock valued at $225,000 after acquiring an additional 272 shares during the last quarter. Hedge funds and other 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.