Millennium Management LLC Increases Stock Position in Camtek Ltd. (NASDAQ:CAMT)

Millennium Management LLC boosted its holdings in shares of Camtek Ltd. (NASDAQ:CAMT) by 34.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 217,617 shares of the semiconductor company’s stock after acquiring an additional 55,234 shares during the quarter. Millennium Management LLC’s holdings in Camtek were worth $27,254,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Fred Alger Management LLC purchased a new position in shares of Camtek in the 2nd quarter valued at $8,386,000. Sei Investments Co. boosted its position in Camtek by 41.5% during the first quarter. Sei Investments Co. now owns 94,473 shares of the semiconductor company’s stock valued at $7,914,000 after purchasing an additional 27,707 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Camtek by 5.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 171,810 shares of the semiconductor company’s stock valued at $11,920,000 after purchasing an additional 8,368 shares during the last quarter. Quadrature Capital Ltd bought a new position in Camtek in the fourth quarter worth about $10,704,000. Finally, Jennison Associates LLC lifted its position in shares of Camtek by 383.1% during the first quarter. Jennison Associates LLC now owns 23,015 shares of the semiconductor company’s stock valued at $1,928,000 after buying an additional 18,251 shares during the last quarter. Institutional investors own 41.93% of the company’s stock.

Camtek Stock Performance

Shares of CAMT stock opened at $79.34 on Friday. 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 Ltd. has a 52-week low of $48.50 and a 52-week high of $140.50. The business has a 50-day simple moving average of $87.34 and a 200-day simple moving average of $95.75. The stock has a market cap of $3.56 billion, a PE ratio of 44.51, a price-to-earnings-growth ratio of 1.43 and a beta of 1.39.

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

Wall Street Analysts Forecast Growth

CAMT has been the subject of several recent analyst reports. 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 note on Friday, August 2nd. Northland Capmk upgraded shares of Camtek from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Needham & Company LLC reissued a “buy” rating and set a $140.00 target price on shares of Camtek in a research report on Friday, August 2nd. Finally, Northland Securities raised Camtek from a “market perform” rating to an “outperform” rating and set a $99.00 price objective on the stock in a report on Monday, August 5th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $116.57.

Camtek 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.