Camtek (NASDAQ:CAMT) Reaches New 1-Year High – Still a Buy?

Camtek Ltd. (NASDAQ:CAMT)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $171.62 and last traded at $170.70, with a volume of 157341 shares trading hands. The stock had previously closed at $163.78.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CAMT. Bank of America upped their price target on shares of Camtek from $140.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Stifel Nicolaus upped their target price on Camtek from $120.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. Evercore reiterated an “outperform” rating and issued a $190.00 target price on shares of Camtek in a research report on Wednesday, February 18th. Northland Securities downgraded Camtek from an “outperform” rating to a “market perform” rating and set a $150.00 price objective for the company. in a research note on Wednesday, February 18th. Finally, Needham & Company LLC lifted their target price on shares of Camtek from $160.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $165.92.

Camtek Price Performance

The stock’s 50 day simple moving average is $135.99 and its 200 day simple moving average is $114.77. The company has a debt-to-equity ratio of 0.84, a quick ratio of 7.31 and a current ratio of 8.35. The firm has a market capitalization of $7.83 billion, a P/E ratio of 183.59, a P/E/G ratio of 3.62 and a beta of 1.57.

Camtek (NASDAQ:CAMT) last released its quarterly earnings data 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 business 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.77 earnings per share. As a group, analysts expect that Camtek Ltd. will post 2.93 earnings per share for the current fiscal year.

Institutional Trading of Camtek

Hedge funds have recently modified their holdings of the company. Advisors Asset Management Inc. grew 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 buying an additional 293 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Camtek by 12.1% in the first quarter. Goldman Sachs Group Inc. now owns 149,223 shares of the semiconductor company’s stock valued at $8,749,000 after acquiring an additional 16,117 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in Camtek by 16.0% in the second quarter. State of New Jersey Common Pension Fund D now owns 22,438 shares of the semiconductor company’s stock worth $1,897,000 after purchasing an additional 3,101 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Camtek by 30.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 24,410 shares of the semiconductor company’s stock worth $2,064,000 after purchasing an additional 5,627 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in Camtek by 5.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 12,228 shares of the semiconductor company’s stock worth $1,034,000 after buying an additional 619 shares during the last quarter. 41.93% of the stock is owned by hedge funds and other institutional investors.

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.