Camtek (NASDAQ:CAMT) Reaches New 12-Month High – Here’s Why

Camtek Ltd. (NASDAQ:CAMT)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as $176.00 and last traded at $171.13, with a volume of 46003 shares trading hands. The stock had previously closed at $172.25.

Analyst Ratings Changes

CAMT has been the topic of several analyst reports. Northland Securities lowered shares of Camtek from an “outperform” rating to a “market perform” rating and set a $150.00 price target on the stock. in a report on Wednesday, February 18th. Bank of America raised 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. Weiss Ratings restated a “hold (c+)” rating on shares of Camtek in a research note on Monday, December 29th. Jefferies Financial Group reaffirmed a “buy” rating and set a $185.00 target price on shares of Camtek in a research report on Wednesday, February 18th. Finally, Oppenheimer increased their price target on Camtek from $120.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, February 19th. Eight analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Camtek presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.92.

Camtek Price Performance

The stock’s 50 day simple moving average is $152.40 and its 200-day simple moving average is $123.41. The firm has a market cap of $7.69 billion, a price-to-earnings ratio of 179.35, a price-to-earnings-growth ratio of 3.94 and a beta of 1.53. The company has a debt-to-equity ratio of 0.84, a quick ratio of 7.31 and a current ratio of 8.35.

Camtek (NASDAQ:CAMT) last posted its quarterly earnings data on Wednesday, February 18th. The semiconductor company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.02). Camtek had a return on equity of 23.61% and a net margin of 10.23%.The company had revenue of $128.12 million for the quarter, compared to analyst estimates of $127.10 million. During the same quarter in the previous year, the firm posted $0.77 earnings per share. The company’s quarterly revenue was up 9.2% on a year-over-year basis. Equities research analysts anticipate that Camtek Ltd. will post 2.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Daiwa Securities Group Inc. increased its holdings in shares of Camtek by 202.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 299 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 200 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Camtek during the third quarter worth $32,000. Advisors Asset Management Inc. grew its position in Camtek by 61.6% during the first quarter. Advisors Asset Management Inc. now owns 769 shares of the semiconductor company’s stock valued at $45,000 after buying an additional 293 shares during the period. Global Retirement Partners LLC acquired a new stake in Camtek during the fourth quarter valued at $52,000. Finally, Rothschild Investment LLC purchased a new position in shares of Camtek in the 3rd quarter valued at about $54,000. 41.93% of the stock is owned by institutional investors and hedge funds.

About Camtek

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.