Camtek (NASDAQ:CAMT) Stock Price Down 6.3% – Here’s Why

Camtek Ltd. (NASDAQ:CAMT)’s share price was down 6.3% on Tuesday. The company traded as low as $137.59 and last traded at $138.2730. Approximately 296,775 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 487,965 shares. The stock had previously closed at $147.63.

Wall Street Analysts Forecast Growth

CAMT has been the topic of a number of research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Camtek in a research note on Tuesday, August 11th. Stifel Nicolaus set a $170.00 price target on Camtek in a research note on Monday, August 10th. Morgan Stanley cut their price objective on Camtek from $165.00 to $152.00 and set an “equal weight” rating on the stock in a report on Monday, September 28th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $175.00 price objective on shares of Camtek in a report on Tuesday, September 22nd. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $176.75.

Camtek Price Performance

The company has a 50 day moving average price of $149.35 and a 200-day moving average price of $160.97. The company has a market cap of $6.36 billion, a price-to-earnings ratio of 213.06, a P/E/G ratio of 3.29 and a beta of 1.56. The company has a quick ratio of 6.58, a current ratio of 7.38 and a debt-to-equity ratio of 0.69.

Camtek (NASDAQ:CAMT) last posted its earnings results on Monday, August 10th. The semiconductor company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.76 by $0.02. Camtek had a net margin of 7.40% and a return on equity of 21.58%. The business had revenue of $133.24 million for the quarter, compared to the consensus estimate of $130.44 million. During the same period last year, the company earned $0.79 EPS. The firm’s revenue was up 8.0% compared to the same quarter last year. As a group, equities research analysts predict that Camtek Ltd. will post 3.27 EPS for the current fiscal year.

Insider Activity

In other news, CFO Moshe Eisenberg sold 3,759 shares of Camtek stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $160.06, for a total transaction of $601,665.54. Following the transaction, the chief financial officer owned 16,884 shares in the company, valued at approximately $2,702,453.04. The trade was a 18.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lior Aviram sold 3,347 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $162.99, for a total transaction of $545,527.53. Following the completion of the sale, the director directly owned 15,865 shares in the company, valued at approximately $2,585,836.35. This represents a 17.42% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 26,843 shares of company stock valued at $4,514,249. 79.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Camtek

A number of institutional investors have recently made changes to their positions in the stock. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Camtek by 38.2% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,302,009 shares of the semiconductor company’s stock valued at $349,008,000 after buying an additional 636,773 shares during the period. Y.D. More Investments Ltd lifted its stake in shares of Camtek by 20.8% in the first quarter. Y.D. More Investments Ltd now owns 783,365 shares of the semiconductor company’s stock worth $114,901,000 after acquiring an additional 134,791 shares during the period. Stephens Investment Management Group LLC acquired a new position in shares of Camtek in the first quarter worth approximately $8,296,000. Arrowstreet Capital Limited Partnership bought a new stake in Camtek in the first quarter valued at approximately $7,225,000. Finally, Meitav Investment House Ltd. boosted its holdings in Camtek by 11.4% in the first quarter. Meitav Investment House Ltd. now owns 349,773 shares of the semiconductor company’s stock valued at $51,836,000 after acquiring an additional 35,811 shares during the last quarter. Institutional investors own 41.93% of the company’s stock.

Camtek Company Profile

Camtek Ltd. (NASDAQ: CAMT) is an Israel-based provider of inspection and metrology systems used in semiconductor manufacturing. The company develops equipment and software designed to identify defects, measure wafer and package characteristics, and support process control during the production of integrated circuits.

Camtek’s product portfolio serves a range of applications, including advanced packaging, heterogeneous integration, chiplets, memory, foundry and logic manufacturing, and other high-density semiconductor processes.