Camtek (NASDAQ:CAMT) Stock Price Up 6.9% – Here’s What Happened

Camtek Ltd. (NASDAQ:CAMT) rose 6.9% during mid-day trading on Monday . The company traded as high as $89.13 and last traded at $88.41. Approximately 73,653 shares changed hands during trading, a decline of 52% from the average daily volume of 152,834 shares. The stock had previously closed at $82.69.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CAMT shares. Northland Securities boosted their price objective on shares of Camtek from $99.00 to $102.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Needham & Company LLC reissued a “buy” rating and issued a $95.00 price target on shares of Camtek in a research report on Wednesday, November 13th. StockNews.com raised Camtek from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $105.00 price target on shares of Camtek in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $109.88.

Camtek Stock Up 5.5 %

The firm has a market capitalization of $3.96 billion, a price-to-earnings ratio of 40.18, a P/E/G ratio of 1.36 and a beta of 1.33. The company has a quick ratio of 4.36, a current ratio of 5.28 and a debt-to-equity ratio of 0.38. The company’s 50 day moving average price is $77.90 and its 200 day moving average price is $89.75.

Camtek (NASDAQ:CAMT) last issued its quarterly earnings results on Tuesday, November 12th. The semiconductor company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. The company had revenue of $112.30 million during the quarter, compared to analysts’ expectations of $108.51 million. Camtek had a return on equity of 24.21% and a net margin of 26.53%. The firm’s revenue was up 39.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.46 EPS. As a group, research analysts forecast that Camtek Ltd. will post 2.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Camtek

A number of institutional investors have recently bought and sold shares of CAMT. Bank of New York Mellon Corp lifted its position in Camtek by 551.0% during the second quarter. Bank of New York Mellon Corp now owns 17,864 shares of the semiconductor company’s stock valued at $2,237,000 after purchasing an additional 15,120 shares during the period. Commonwealth Equity Services LLC increased its holdings in Camtek by 49.1% in the second quarter. Commonwealth Equity Services LLC now owns 5,484 shares of the semiconductor company’s stock valued at $687,000 after buying an additional 1,805 shares in the last quarter. Van ECK Associates Corp increased its holdings in Camtek by 9.9% in the second quarter. Van ECK Associates Corp now owns 9,413 shares of the semiconductor company’s stock valued at $1,179,000 after buying an additional 848 shares in the last quarter. Y.D. More Investments Ltd boosted its stake in shares of Camtek by 723.7% during the 2nd quarter. Y.D. More Investments Ltd now owns 626,973 shares of the semiconductor company’s stock worth $78,709,000 after acquiring an additional 550,854 shares in the last quarter. Finally, O Neil Global Advisors Inc. acquired a new stake in shares of Camtek during the 2nd quarter valued at about $627,000. 41.93% of the stock is owned by hedge funds and other institutional investors.

Camtek Company Profile

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.