Camtek (NASDAQ:CAMT) Shares Gap Down – Should You Sell?

Camtek Ltd. (NASDAQ:CAMT) gapped down before the market opened on Tuesday . The stock had previously closed at $141.84, but opened at $131.53. Camtek shares last traded at $131.2750, with a volume of 86,510 shares traded.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Needham & Company LLC boosted their price target on Camtek from $175.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Evercore reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Camtek in a research report on Wednesday, May 13th. Barclays upped their target price on Camtek from $175.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. Weiss Ratings upgraded Camtek from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, May 14th. Finally, Morgan Stanley raised their price target on Camtek from $163.00 to $167.00 and gave the stock an “equal weight” rating in a research note on Monday. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $174.67.

Camtek Price Performance

The company’s fifty day moving average is $175.21 and its 200 day moving average is $158.93. The company has a quick ratio of 7.46, a current ratio of 8.35 and a debt-to-equity ratio of 0.71. The stock has a market cap of $6.16 billion, a PE ratio of 152.22, a price-to-earnings-growth ratio of 3.42 and a beta of 1.55.

Camtek (NASDAQ:CAMT) last posted its earnings results on Tuesday, May 12th. The semiconductor company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. The business had revenue of $121.66 million for the quarter, compared to analyst estimates of $120.15 million. Camtek had a net margin of 9.63% and a return on equity of 22.26%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.79 EPS. As a group, sell-side analysts anticipate that Camtek Ltd. will post 3.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its holdings in shares of Camtek by 46.8% during the first quarter. EverSource Wealth Advisors LLC now owns 298 shares of the semiconductor company’s stock valued at $45,000 after acquiring an additional 95 shares during the period. Lifestyle Asset Management Inc. grew its position in shares of Camtek by 2.5% during the fourth quarter. Lifestyle Asset Management Inc. now owns 4,764 shares of the semiconductor company’s stock worth $507,000 after acquiring an additional 115 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of Camtek by 6.0% in the 1st quarter. NewEdge Advisors LLC now owns 2,072 shares of the semiconductor company’s stock worth $314,000 after acquiring an additional 117 shares during the period. Geode Capital Management LLC increased its holdings in shares of Camtek by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 39,576 shares of the semiconductor company’s stock worth $4,209,000 after acquiring an additional 162 shares during the period. Finally, Daiwa Securities Group Inc. lifted its position in Camtek by 202.0% in 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 during the last quarter. 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.