Camtek (NASDAQ:CAMT) Shares Down 6.7% – What’s Next?

Shares of Camtek Ltd. (NASDAQ:CAMT) were down 6.7% on Tuesday . The company traded as low as $182.11 and last traded at $184.47. Approximately 309,597 shares were traded during trading, a decline of 39% from the average daily volume of 505,747 shares. The stock had previously closed at $197.75.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CAMT shares. Morgan Stanley raised their price objective on shares of Camtek from $161.00 to $163.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 13th. Wall Street Zen raised shares of Camtek from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. B. Riley Financial reissued a “buy” rating on shares of Camtek in a report on Monday, April 20th. Oppenheimer raised their price objective on shares of Camtek from $180.00 to $195.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Finally, Northland Securities set a $174.00 price objective on shares of Camtek in a report on Wednesday, May 13th. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.33.

Camtek Trading Down 6.8%

The company has a debt-to-equity ratio of 0.71, a current ratio of 8.35 and a quick ratio of 7.46. The firm has a market capitalization of $8.45 billion, a PE ratio of 212.19, a price-to-earnings-growth ratio of 4.64 and a beta of 1.54. The business’s 50-day moving average price is $178.02 and its 200-day moving average price is $153.20.

Camtek (NASDAQ:CAMT) last announced its earnings results on Tuesday, May 12th. The semiconductor company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $121.66 million for the quarter, compared to analyst estimates of $120.15 million. Camtek had a net margin of 9.63% and a return on equity of 22.26%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the firm posted $0.79 earnings per share. As a group, analysts expect that Camtek Ltd. will post 3.14 earnings per share for the current fiscal year.

Institutional Trading of Camtek

Several institutional investors and hedge funds have recently added to or reduced their stakes in CAMT. Daiwa Securities Group Inc. raised its stake in Camtek by 202.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 299 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 200 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Camtek during the 3rd quarter valued at approximately $32,000. Fifth Third Bancorp purchased a new position in Camtek in the 1st quarter valued at $42,000. EverSource Wealth Advisors LLC grew its position in Camtek by 46.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 298 shares of the semiconductor company’s stock valued at $45,000 after buying an additional 95 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its position in Camtek by 61.6% in the 1st quarter. Advisors Asset Management Inc. now owns 769 shares of the semiconductor company’s stock valued at $45,000 after buying an additional 293 shares during the last quarter. 41.93% of the stock is owned by hedge funds and other institutional investors.

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.