Camtek (NASDAQ:CAMT) Cut to “Market Perform” at Northland Securities

Northland Securities cut shares of Camtek (NASDAQ:CAMT) from an outperform rating to a market perform rating in a research report sent to investors on Wednesday, Marketbeat Ratings reports. They currently have $150.00 price target on the semiconductor company’s stock.

A number of other brokerages have also recently commented on CAMT. Zacks Research raised shares of Camtek from a “strong sell” rating to a “hold” rating in a research note on Monday, February 2nd. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $141.00 price target on shares of Camtek in a report on Friday, January 9th. Needham & Company LLC lifted their price objective on Camtek from $135.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Evercore reaffirmed an “outperform” rating and issued a $190.00 target price on shares of Camtek in a research note on Wednesday. Finally, Morgan Stanley started coverage on Camtek in a research report on Monday, December 1st. They set an “equal weight” rating and a $110.00 price target for the company. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $165.92.

Camtek Trading Down 3.3%

NASDAQ:CAMT opened at $148.10 on Wednesday. Camtek has a 1 year low of $47.41 and a 1 year high of $170.46. The company has a debt-to-equity ratio of 0.84, a quick ratio of 6.52 and a current ratio of 8.35. The stock has a fifty day moving average price of $134.06 and a two-hundred day moving average price of $113.30. The stock has a market capitalization of $6.75 billion, a price-to-earnings ratio of 157.55, a PEG ratio of 3.30 and a beta of 1.57.

Camtek (NASDAQ:CAMT) last announced its quarterly earnings results on Wednesday, February 18th. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.02). The company had revenue of $128.12 million during the quarter, compared to analysts’ expectations of $127.10 million. Camtek had a net margin of 10.23% and a return on equity of 23.61%. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.77 EPS. As a group, sell-side analysts anticipate that Camtek will post 2.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Camtek

Several hedge funds have recently made changes to their positions in CAMT. Advisors Asset Management Inc. boosted its position in shares of Camtek by 61.6% in the first quarter. Advisors Asset Management Inc. now owns 769 shares of the semiconductor company’s stock worth $45,000 after acquiring an additional 293 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Camtek by 12.1% during the first quarter. Goldman Sachs Group Inc. now owns 149,223 shares of the semiconductor company’s stock worth $8,749,000 after purchasing an additional 16,117 shares during the period. Stratos Wealth Partners LTD. grew its stake in shares of Camtek by 70.1% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 7,024 shares of the semiconductor company’s stock valued at $594,000 after buying an additional 2,895 shares during the period. Stephens Inc. AR purchased a new position in shares of Camtek in the 2nd quarter worth $561,000. Finally, ARK Investment Management LLC raised its position in shares of Camtek by 38.2% in the 2nd quarter. ARK Investment Management LLC now owns 27,386 shares of the semiconductor company’s stock worth $2,316,000 after buying an additional 7,566 shares during the period. Institutional investors and hedge funds own 41.93% of the company’s stock.

Camtek Company Profile

Camtek Ltd. (NASDAQ: CAMT) is a provider of automated inspection and metrology solutions for the semiconductor and printed circuit board (PCB) industries. The company develops, manufactures and markets a suite of inline and stand-alone systems that perform high‐resolution 2D and 3D measurements, defect review and process control. Its products are used by integrated device manufacturers, foundries, OSAT (outsourced semiconductor assembly and test) providers, and PCB fabricators to optimize yield, improve product quality and reduce production costs.

Camtek’s core offerings include wafer inspection systems that detect and classify defects on patterned wafers, patterned wafer metrology tools for overlay and critical dimension measurements, and advanced packaging inspection platforms for 3D ICs and fan-out wafer-level packaging.