Camtek (NASDAQ:CAMT) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Camtek (NASDAQ:CAMT) released its earnings results on Wednesday. The semiconductor company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.02), FiscalAI reports. The firm had revenue of $128.12 million during the quarter, compared to the consensus estimate of $127.10 million. Camtek had a net margin of 9.86% and a return on equity of 23.82%. Camtek’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.77 earnings per share.

Camtek Stock Performance

Shares of CAMT stock opened at $163.03 on Wednesday. The stock has a market capitalization of $7.43 billion, a PE ratio of 179.85, a PEG ratio of 3.49 and a beta of 1.57. Camtek has a one year low of $47.41 and a one year high of $165.00. The company has a debt-to-equity ratio of 0.90, a current ratio of 7.58 and a quick ratio of 6.52. The business’s 50 day simple moving average is $131.91 and its 200 day simple moving average is $112.35.

Institutional Trading of Camtek

A number of large investors have recently bought and sold shares of the business. Advisors Asset Management Inc. raised its position in shares of Camtek by 61.6% in the 1st quarter. Advisors Asset Management Inc. now owns 769 shares of the semiconductor company’s stock worth $45,000 after acquiring an additional 293 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Camtek by 12.1% in 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 in the last quarter. Geode Capital Management LLC lifted its stake in Camtek by 0.7% in the second quarter. Geode Capital Management LLC now owns 39,420 shares of the semiconductor company’s stock valued at $3,333,000 after buying an additional 279 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Camtek by 4.7% during the 2nd quarter. Cetera Investment Advisers now owns 4,841 shares of the semiconductor company’s stock worth $409,000 after buying an additional 217 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Camtek by 8.3% during the 2nd quarter. Invesco Ltd. now owns 263,836 shares of the semiconductor company’s stock worth $22,310,000 after buying an additional 20,237 shares during the period. 41.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CAMT shares. B. Riley Financial lifted their price target on shares of Camtek from $145.00 to $175.00 and gave the company a “buy” rating in a report on Monday, January 26th. Evercore reaffirmed an “outperform” rating on shares of Camtek in a research note on Wednesday. Jefferies Financial Group increased their price target on Camtek from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, December 15th. Bank of America boosted their price objective on Camtek from $140.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. Finally, Morgan Stanley started coverage on Camtek in a report on Monday, December 1st. They issued an “equal weight” rating and a $110.00 target price for the company. Eight research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $137.17.

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.