Camtek (NASDAQ:CAMT) Shares Down 9.6% – Time to Sell?

Camtek Ltd. (NASDAQ:CAMT) dropped 9.6% during mid-day trading on Monday . The company traded as low as $151.91 and last traded at $152.2060. Approximately 783,185 shares traded hands during trading, an increase of 53% from the average daily volume of 512,396 shares. The stock had previously closed at $168.35.

Analysts Set New Price Targets

CAMT has been the subject of a number of research reports. Morgan Stanley boosted their target price on shares of Camtek from $161.00 to $163.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 13th. Oppenheimer lifted their price objective on shares of Camtek from $180.00 to $195.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Barclays lifted their price objective on shares of Camtek from $175.00 to $185.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $145.00 price objective on shares of Camtek in a report on Wednesday, February 18th. Finally, Needham & Company LLC lifted their price objective on shares of Camtek from $175.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Seven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $174.33.

Camtek Stock Performance

The company has a current ratio of 8.35, a quick ratio of 7.46 and a debt-to-equity ratio of 0.71. The firm’s 50-day moving average is $172.83 and its two-hundred day moving average is $144.37. The stock has a market cap of $7.30 billion, a price-to-earnings ratio of 183.19, a P/E/G ratio of 3.75 and a beta of 1.61.

Camtek (NASDAQ:CAMT) last released its quarterly earnings results on Tuesday, May 12th. The semiconductor company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.01. Camtek had a net margin of 9.63% and a return on equity of 22.26%. The firm had revenue of $121.66 million during the quarter, compared to the consensus estimate of $120.15 million. During the same quarter in the prior year, the firm earned $0.79 EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, sell-side analysts expect that Camtek Ltd. will post 3.13 earnings per share for the current year.

Institutional Trading of Camtek

Several large investors have recently bought and sold shares of CAMT. Advisors Asset Management Inc. grew its stake in Camtek by 61.6% during the 1st quarter. Advisors Asset Management Inc. now owns 769 shares of the semiconductor company’s stock valued at $45,000 after acquiring an additional 293 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Camtek by 12.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 149,223 shares of the semiconductor company’s stock valued at $8,749,000 after acquiring an additional 16,117 shares in the last quarter. Geode Capital Management LLC grew its stake in Camtek by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 39,420 shares of the semiconductor company’s stock valued at $3,333,000 after acquiring an additional 279 shares in the last quarter. Cetera Investment Advisers grew its stake in Camtek by 4.7% during the 2nd quarter. Cetera Investment Advisers now owns 4,841 shares of the semiconductor company’s stock valued at $409,000 after acquiring an additional 217 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Camtek by 8.3% during the 2nd quarter. Invesco Ltd. now owns 263,836 shares of the semiconductor company’s stock valued at $22,310,000 after acquiring an additional 20,237 shares in the last quarter. Hedge funds and other institutional investors own 41.93% of the company’s stock.

About Camtek

Camtek Ltd. (NASDAQ: CAMT) is a provider of automated inspection and metrology solutions for the semiconductor and printed circuit board (PCB) industries. The company develops, manufactures and markets a suite of inline and stand-alone systems that perform high‐resolution 2D and 3D measurements, defect review and process control. Its products are used by integrated device manufacturers, foundries, OSAT (outsourced semiconductor assembly and test) providers, and PCB fabricators to optimize yield, improve product quality and reduce production costs.

Camtek’s core offerings include wafer inspection systems that detect and classify defects on patterned wafers, patterned wafer metrology tools for overlay and critical dimension measurements, and advanced packaging inspection platforms for 3D ICs and fan-out wafer-level packaging.