Camtek (NASDAQ:CAMT) Trading Down 7.7% – Here’s What Happened

Shares of Camtek Ltd. (NASDAQ:CAMT) fell 7.7% during trading on Friday . The company traded as low as $152.21 and last traded at $152.3160. 209,927 shares changed hands during trading, a decline of 63% from the average session volume of 569,222 shares. The stock had previously closed at $165.03.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Northland Securities lowered shares of Camtek from an “outperform” rating to a “market perform” rating and set a $150.00 price objective for the company. in a research report on Wednesday, February 18th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $145.00 price target on shares of Camtek in a research note on Wednesday, February 18th. Morgan Stanley set a $151.00 target price on Camtek in a research note on Thursday, February 19th. Needham & Company LLC lifted their price target on Camtek from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Finally, B. Riley Financial boosted their target price on shares of Camtek from $145.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Camtek presently has an average rating of “Moderate Buy” and a consensus price target of $165.92.

Camtek Trading Down 6.7%

The firm has a 50-day moving average of $144.39 and a 200 day moving average of $118.32. The company has a current ratio of 8.35, a quick ratio of 7.31 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $7.02 billion, a price-to-earnings ratio of 164.03, a PEG ratio of 3.93 and a beta of 1.53.

Camtek (NASDAQ:CAMT) last issued its quarterly earnings data on Wednesday, February 18th. The semiconductor company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.02). The company had revenue of $128.12 million for the quarter, compared to the consensus estimate of $127.10 million. Camtek had a net margin of 10.23% and a return on equity of 23.61%. Camtek’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 firm earned $0.77 earnings per share. As a group, equities analysts predict that Camtek Ltd. will post 2.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Wasatch Advisors LP boosted its position in Camtek by 14.7% during the 3rd quarter. Wasatch Advisors LP now owns 4,020,683 shares of the semiconductor company’s stock worth $422,373,000 after acquiring an additional 513,956 shares during the period. Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of Camtek by 0.4% during the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,142,171 shares of the semiconductor company’s stock valued at $182,976,000 after acquiring an additional 7,500 shares in the last quarter. Menora Mivtachim Holdings LTD. increased its stake in shares of Camtek by 31.1% in the third quarter. Menora Mivtachim Holdings LTD. now owns 2,099,351 shares of the semiconductor company’s stock worth $220,537,000 after acquiring an additional 497,918 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Camtek by 56.9% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,665,236 shares of the semiconductor company’s stock worth $177,090,000 after acquiring an additional 604,097 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its position in Camtek by 12.0% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,318,396 shares of the semiconductor company’s stock valued at $140,205,000 after purchasing an additional 140,796 shares during the last quarter. Institutional investors 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.