Camtek (NASDAQ:CAMT) Stock Price Up 4.9% – Still a Buy?

Camtek Ltd. (NASDAQ:CAMT) shares shot up 4.9% on Monday . The stock traded as high as $173.97 and last traded at $173.4770. Approximately 57,171 shares changed hands during trading, a decline of 89% from the average session volume of 515,860 shares. The stock had previously closed at $165.38.

Analyst Upgrades and Downgrades

CAMT has been the subject of several recent analyst reports. Northland Securities set a $174.00 price objective on shares of Camtek in a research note on Wednesday, May 13th. Jefferies Financial Group upped their target price on Camtek from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Morgan Stanley cut their price objective on shares of Camtek from $167.00 to $165.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 11th. Oppenheimer boosted their price objective on shares of Camtek from $180.00 to $195.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Finally, B. Riley Financial reissued a “buy” rating on shares of Camtek in a report on Monday, April 20th. Seven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.25.

Camtek Stock Performance

The company has a debt-to-equity ratio of 0.69, a current ratio of 7.38 and a quick ratio of 6.58. The firm has a fifty day simple moving average of $158.11 and a 200 day simple moving average of $163.88. The company has a market capitalization of $8.28 billion, a price-to-earnings ratio of 277.61, a price-to-earnings-growth ratio of 3.68 and a beta of 1.58.

Camtek (NASDAQ:CAMT) last issued its quarterly earnings results on Monday, August 10th. The semiconductor company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. The firm had revenue of $133.24 million for the quarter, compared to analyst estimates of $130.44 million. Camtek had a net margin of 7.40% and a return on equity of 21.58%. Camtek’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period last year, the company posted $0.79 EPS. On average, analysts anticipate that Camtek Ltd. will post 3.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Ram Langer sold 6,387 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $172.32, for a total value of $1,100,607.84. Following the sale, the chief operating officer directly owned 17,532 shares in the company, valued at approximately $3,021,114.24. The trade was a 26.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rafi Amit sold 6,250 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $170.52, for a total value of $1,065,750.00. Following the transaction, the chief executive officer owned 55,350 shares in the company, valued at $9,438,282. This trade represents a 10.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 26,335 shares of company stock valued at $4,425,349. Insiders own 79.40% of the company’s stock.

Hedge Funds Weigh In On Camtek

A number of institutional investors and hedge funds have recently made changes to their positions in CAMT. Daiwa Securities Group Inc. increased its holdings in Camtek by 202.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 299 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 200 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of Camtek during the third quarter worth about $32,000. Fifth Third Bancorp purchased a new position in shares of Camtek in the 1st quarter valued at approximately $42,000. EverSource Wealth Advisors LLC increased its stake in Camtek by 46.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 298 shares of the semiconductor company’s stock valued at $45,000 after buying an additional 95 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in shares of Camtek by 61.6% during 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 period. 41.93% of the stock is owned by institutional investors and hedge funds.

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.