The Manufacturers Life Insurance Company Reduces Holdings in Camtek Ltd. (NASDAQ:CAMT)

The Manufacturers Life Insurance Company decreased its position in shares of Camtek Ltd. (NASDAQ:CAMT) by 96.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,650 shares of the semiconductor company’s stock after selling 289,106 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Camtek were worth $1,334,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Millennium Management LLC grew its holdings in shares of Camtek by 34.0% during the second quarter. Millennium Management LLC now owns 217,617 shares of the semiconductor company’s stock worth $27,254,000 after purchasing an additional 55,234 shares during the last quarter. Employees Retirement System of Texas boosted its stake in shares of Camtek by 32.1% during the second quarter. Employees Retirement System of Texas now owns 16,182 shares of the semiconductor company’s stock worth $2,027,000 after buying an additional 3,929 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Camtek during the second quarter worth about $1,423,000. Fred Alger Management LLC acquired a new stake in shares of Camtek during the second quarter worth about $8,386,000. Finally, Marshall Wace LLP boosted its stake in shares of Camtek by 70.4% during the second quarter. Marshall Wace LLP now owns 38,907 shares of the semiconductor company’s stock worth $4,873,000 after buying an additional 16,078 shares during the period. Hedge funds and other institutional investors own 41.93% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Northland Securities upgraded shares of Camtek from a “market perform” rating to an “outperform” rating and set a $99.00 target price for the company in a research note on Monday, August 5th. B. Riley reduced their price objective on shares of Camtek from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Northland Capmk upgraded shares of Camtek from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Finally, Needham & Company LLC restated a “buy” rating and issued a $140.00 price objective on shares of Camtek in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $116.57.

Camtek Stock Up 6.2 %

CAMT stock opened at $84.16 on Friday. The stock has a market capitalization of $3.82 billion, a P/E ratio of 42.94, a PEG ratio of 1.55 and a beta of 1.38. The company has a debt-to-equity ratio of 0.42, a quick ratio of 4.29 and a current ratio of 5.21. Camtek Ltd. has a one year low of $48.50 and a one year high of $140.50. The company has a 50 day moving average price of $85.08 and a two-hundred day moving average price of $95.59.

Camtek (NASDAQ:CAMT) last released its earnings results on Thursday, August 1st. The semiconductor company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.64 by $0.02. The firm had revenue of $102.60 million during the quarter, compared to analysts’ expectations of $101.26 million. Camtek had a net margin of 25.93% and a return on equity of 22.57%. Camtek’s revenue for the quarter was up 39.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 EPS. As a group, sell-side analysts expect that Camtek Ltd. will post 2.45 EPS for the current year.

About Camtek

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.