Camtek Ltd. (CAMT) Lowered to “Hold” at Zacks Investment Research
Zacks Investment Research cut shares of Camtek Ltd. (NASDAQ:CAMT) from a buy rating to a hold rating in a research note issued to investors on Friday.
According to Zacks, “Camtek Ltd., designs, develops, manufactures, and markets automatic optical inspection systems and related products. Camtek’s automatic inspection systems are used to enhance both production processes and yield for manufacturers in the printed circuit board industry, the high density interconnect substrate industry and the semiconductor manufacturing and packaging industry. “
Several other equities research analysts have also recently weighed in on CAMT. B. Riley restated a buy rating and issued a $7.00 price target on shares of Camtek in a research report on Wednesday, August 9th. TheStreet cut shares of Camtek from a b rating to a c rating in a research report on Friday, August 4th. ValuEngine upgraded shares of Camtek from a hold rating to a buy rating in a research report on Friday, June 2nd. Finally, Needham & Company LLC cut shares of Camtek from a buy rating to a hold rating in a research report on Tuesday, June 27th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Camtek has a consensus rating of Buy and an average price target of $6.25.
Camtek (CAMT) traded up 1.04% during trading on Friday, hitting $4.86. 97,419 shares of the company traded hands. The stock has a market capitalization of $172.03 million, a PE ratio of 60.00 and a beta of 0.98. The company’s 50 day moving average is $4.70 and its 200-day moving average is $4.73. Camtek has a 52 week low of $2.72 and a 52 week high of $7.96.
Camtek (NASDAQ:CAMT) last announced its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. Camtek had a net margin of 2.56% and a return on equity of 15.32%. The company had revenue of $22.68 million for the quarter, compared to analysts’ expectations of $33.50 million. Analysts predict that Camtek will post $0.39 earnings per share for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC increased its position in Camtek by 10.5% in the first quarter. Renaissance Technologies LLC now owns 1,016,600 shares of the semiconductor company’s stock worth $3,873,000 after purchasing an additional 96,670 shares during the last quarter. Algert Global LLC increased its position in Camtek by 236.8% in the second quarter. Algert Global LLC now owns 464,971 shares of the semiconductor company’s stock worth $2,246,000 after purchasing an additional 326,899 shares during the last quarter. Acadian Asset Management LLC increased its position in Camtek by 172.2% in the second quarter. Acadian Asset Management LLC now owns 341,294 shares of the semiconductor company’s stock worth $1,647,000 after purchasing an additional 215,925 shares during the last quarter. PDT Partners LLC bought a new stake in Camtek in the second quarter worth $1,284,000. Finally, Menta Capital LLC increased its position in Camtek by 53.5% in the second quarter. Menta Capital LLC now owns 101,279 shares of the semiconductor company’s stock worth $489,000 after purchasing an additional 35,308 shares during the last quarter. Institutional investors own 18.28% of the company’s stock.
Camtek Company Profile
Camtek Ltd. provides automated and technological solutions for production processes and products yield, enabling and supporting customers’ technologies in the semiconductor fabrication and printed circuit board (PCB) industries. The Company designs, develops, manufactures and markets products mainly based on two core technologies: automated optical inspection (AOI) and functional ink technology (FIT).
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