abrdn plc Buys New Stake in Camtek Ltd. (NASDAQ:CAMT)

abrdn plc purchased a new stake in Camtek Ltd. (NASDAQ:CAMT) during the third quarter, according to its most recent filing with the SEC. The fund purchased 142,599 shares of the semiconductor company’s stock, valued at approximately $11,387,000. abrdn plc owned about 0.32% of Camtek as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in CAMT. Parcion Private Wealth LLC purchased a new position in Camtek during the 3rd quarter valued at approximately $274,000. Assenagon Asset Management S.A. purchased a new position in shares of Camtek in the third quarter valued at $2,495,000. Allspring Global Investments Holdings LLC bought a new stake in Camtek in the third quarter worth $9,174,000. Blue Trust Inc. grew its stake in shares of Camtek by 47.7% in the 3rd quarter. Blue Trust Inc. now owns 4,020 shares of the semiconductor company’s stock worth $321,000 after buying an additional 1,299 shares in the last quarter. Finally, Creative Planning bought a new stake in shares of Camtek in the 3rd quarter worth about $334,000. Hedge funds and other institutional investors own 41.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CAMT. Needham & Company LLC reiterated a “buy” rating and issued a $140.00 target price on shares of Camtek in a report on Friday, August 2nd. Northland Securities raised shares of Camtek from a “market perform” rating to an “outperform” rating and set a $99.00 target price on the stock in a research note on Monday, August 5th. StockNews.com raised shares of Camtek from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. Northland Capmk upgraded Camtek from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Finally, B. Riley reduced their price target on Camtek from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $116.57.

Camtek Stock Down 6.7 %

Shares of NASDAQ CAMT opened at $74.21 on Friday. Camtek Ltd. has a 52-week low of $54.44 and a 52-week high of $140.50. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of 37.86, a PEG ratio of 1.65 and a beta of 1.38. The stock has a 50 day moving average price of $81.62 and a 200 day moving average price of $95.53. 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 (NASDAQ:CAMT) last issued its earnings results on Thursday, August 1st. The semiconductor company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.02. The business had revenue of $102.60 million during the quarter, compared to analysts’ expectations of $101.26 million. Camtek had a return on equity of 22.57% and a net margin of 25.93%. The business’s revenue for the quarter was up 39.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.38 EPS. Sell-side analysts expect that Camtek Ltd. will post 2.45 earnings per share 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.