Needham & Company LLC Boosts Camtek (NASDAQ:CAMT) Price Target to $106.00

Camtek (NASDAQ:CAMT) had its target price lifted by Needham & Company LLC from $92.00 to $106.00 in a report released on Friday, Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price objective points to a potential upside of 15.70% from the stock’s current price.

Several other equities analysts have also weighed in on the company. B. Riley restated a “buy” rating and issued a $102.00 price target on shares of Camtek in a research note on Tuesday, March 26th. Evercore ISI began coverage on Camtek in a research note on Tuesday, April 16th. They set an “outperform” rating and a $100.00 target price for the company. Finally, Barclays increased their target price on Camtek from $82.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, February 21st. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $78.88.

Camtek Trading Up 8.6 %

Camtek stock opened at $91.62 on Friday. The firm has a market cap of $4.11 billion, a PE ratio of 56.56, a P/E/G ratio of 2.86 and a beta of 1.39. Camtek has a 12 month low of $25.70 and a 12 month high of $95.13. The stock’s 50 day simple moving average is $80.93 and its two-hundred day simple moving average is $73.09. The company has a current ratio of 5.66, a quick ratio of 4.77 and a debt-to-equity ratio of 0.41.

Camtek (NASDAQ:CAMT) last posted its earnings results on Tuesday, February 20th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.04. Camtek had a net margin of 24.93% and a return on equity of 18.92%. The firm had revenue of $88.70 million during the quarter, compared to analysts’ expectations of $88.02 million. During the same period in the previous year, the business posted $0.45 EPS. The business’s revenue was up 7.9% compared to the same quarter last year. Analysts anticipate that Camtek will post 2.12 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC acquired a new stake in shares of Camtek in the first quarter valued at about $55,026,000. Russell Investments Group Ltd. grew its stake in Camtek by 524.6% during the 1st quarter. Russell Investments Group Ltd. now owns 1,474 shares of the semiconductor company’s stock valued at $123,000 after acquiring an additional 1,238 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Camtek in the 1st quarter valued at about $50,000. Sei Investments Co. lifted its stake in Camtek by 41.5% in the 1st quarter. Sei Investments Co. now owns 94,473 shares of the semiconductor company’s stock worth $7,914,000 after purchasing an additional 27,707 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Camtek by 1.3% during the 1st quarter. Swiss National Bank now owns 58,287 shares of the semiconductor company’s stock worth $4,850,000 after purchasing an additional 750 shares during the last quarter. Hedge funds and other institutional investors own 41.93% of the company’s stock.

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.