Camtek (NASDAQ:CAMT) Trading Up 4.4% – Time to Buy?

Camtek Ltd. (NASDAQ:CAMT) was up 4.4% during mid-day trading on Monday . The stock traded as high as $88.13 and last traded at $87.84. Approximately 66,257 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 542,295 shares. The stock had previously closed at $84.16.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CAMT. Northland Capmk raised Camtek from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Northland Securities upgraded Camtek from a “market perform” rating to an “outperform” rating and set a $99.00 target price on the stock in a research report on Monday, August 5th. Needham & Company LLC restated a “buy” rating and set a $140.00 price objective on shares of Camtek in a research note on Friday, August 2nd. Finally, B. Riley dropped their target price on Camtek from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $116.57.

Camtek Stock Performance

The company has a debt-to-equity ratio of 0.42, a current ratio of 5.21 and a quick ratio of 4.29. The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of 46.72, a price-to-earnings-growth ratio of 1.55 and a beta of 1.38. The firm has a fifty day simple moving average of $85.03 and a 200 day simple moving average of $95.71.

Camtek (NASDAQ:CAMT) last released its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Camtek had a net margin of 25.93% and a return on equity of 22.57%. The firm had revenue of $102.60 million for the quarter, compared to analysts’ expectations of $101.26 million. During the same quarter last year, the company earned $0.38 EPS. The firm’s revenue for the quarter was up 39.4% compared to the same quarter last year. On average, analysts anticipate that Camtek Ltd. will post 2.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Camtek

A number of hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC purchased a new stake in shares of Camtek during the first quarter worth approximately $50,000. Northwestern Mutual Wealth Management Co. grew its holdings 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 buying an additional 466 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Camtek by 524.6% in the first quarter. Russell Investments Group Ltd. now owns 1,474 shares of the semiconductor company’s stock valued at $123,000 after buying an additional 1,238 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Camtek by 17.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,280 shares of the semiconductor company’s stock worth $158,000 after buying an additional 340 shares in the last quarter. Finally, Gateway Wealth Partners LLC acquired a new position in Camtek during the second quarter worth about $220,000. Institutional investors and hedge funds 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.