Camtek (NASDAQ:CAMT) Trading Down 5.1% – Here’s What Happened

Shares of Camtek Ltd. (NASDAQ:CAMT) fell 5.1% during mid-day trading on Friday . The company traded as low as $75.37 and last traded at $75.54. 126,840 shares were traded during mid-day trading, a decline of 76% from the average session volume of 531,951 shares. The stock had previously closed at $79.56.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Northland Capmk raised shares of Camtek from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Needham & Company LLC reissued a “buy” rating and issued a $140.00 price target on shares of Camtek in a report on Friday, August 2nd. StockNews.com raised shares of Camtek from a “sell” rating to a “hold” rating in a report on Friday, October 25th. Northland Securities raised shares of 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. Finally, B. Riley lowered their price target on shares of Camtek from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $116.57.

Camtek Stock Performance

The stock’s 50-day simple moving average is $81.14 and its 200-day simple moving average is $95.50. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of 37.86, a price-to-earnings-growth ratio of 1.65 and a beta of 1.38. The company has a current ratio of 5.21, a quick ratio of 4.29 and a debt-to-equity ratio of 0.42.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. boosted its position in shares of Camtek by 23,300.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 468 shares of the semiconductor company’s stock worth $59,000 after acquiring an additional 466 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Camtek during the 1st quarter worth approximately $50,000. Russell Investments Group Ltd. boosted its position in shares of Camtek by 524.6% during the 1st quarter. Russell Investments Group Ltd. now owns 1,474 shares of the semiconductor company’s stock worth $123,000 after acquiring an additional 1,238 shares in the last quarter. Gateway Wealth Partners LLC acquired a new stake in shares of Camtek during the 2nd quarter worth approximately $220,000. Finally, Susquehanna International Group Ltd. acquired a new stake in shares of Camtek during the 2nd quarter worth approximately $237,000. Institutional investors and hedge funds own 41.93% of the company’s stock.

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.