Camtek Ltd. (NASDAQ:CAMT) Sees Large Decrease in Short Interest

Camtek Ltd. (NASDAQ:CAMT) was the target of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 2,810,000 shares, a decrease of 5.1% from the August 15th total of 2,960,000 shares. Based on an average trading volume of 699,400 shares, the short-interest ratio is presently 4.0 days. Approximately 10.1% of the shares of the company are sold short.

Camtek Stock Performance

Shares of CAMT opened at $71.51 on Thursday. The business has a 50-day simple moving average of $95.55 and a two-hundred day simple moving average of $95.79. The company has a quick ratio of 4.29, a current ratio of 5.21 and a debt-to-equity ratio of 0.42. Camtek has a 52 week low of $48.50 and a 52 week high of $140.50. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of 40.40, a PEG ratio of 1.64 and a beta of 1.39.

Camtek (NASDAQ:CAMT) last released its earnings results on Thursday, August 1st. The semiconductor company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.02. Camtek had a net margin of 25.93% and a return on equity of 22.57%. The company had revenue of $102.60 million during the quarter, compared to analyst estimates of $101.26 million. During the same period in the prior year, the firm posted $0.38 EPS. The firm’s quarterly revenue was up 39.4% compared to the same quarter last year. On average, analysts expect that Camtek will post 2.45 EPS for the current year.

Institutional Trading of Camtek

Several institutional investors and hedge funds have recently modified their holdings of the company. Clal Insurance Enterprises Holdings Ltd lifted its holdings in Camtek by 6.0% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,131,671 shares of the semiconductor company’s stock worth $78,523,000 after purchasing an additional 64,484 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Camtek by 5.7% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 882,165 shares of the semiconductor company’s stock valued at $73,899,000 after purchasing an additional 47,900 shares during the last quarter. Hood River Capital Management LLC boosted its holdings in shares of Camtek by 1.9% during the 1st quarter. Hood River Capital Management LLC now owns 691,780 shares of the semiconductor company’s stock valued at $57,950,000 after purchasing an additional 13,094 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in shares of Camtek during the first quarter valued at about $55,026,000. Finally, Y.D. More Investments Ltd increased its holdings in shares of Camtek by 723.7% in the second quarter. Y.D. More Investments Ltd now owns 626,973 shares of the semiconductor company’s stock worth $78,709,000 after purchasing an additional 550,854 shares during the last quarter. 41.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CAMT has been the subject of a number of research analyst reports. B. Riley reduced their price target on shares of Camtek from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Bank of America boosted their target price on shares of Camtek from $98.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Northland Securities raised Camtek from a “market perform” rating to an “outperform” rating and set a $99.00 price target on the stock in a report on Monday, August 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Camtek in a report on Friday, August 2nd. Finally, Northland Capmk raised Camtek from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $116.57.

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.