Camtek (NASDAQ:CAMT) Shares Climb 7.3% – Here’s What Happened

Camtek Ltd. (NASDAQ:CAMT)’s share price traded up 7.3% during trading on Friday. The company traded as high as $164.13 and last traded at $165.0620. 168,793 shares changed hands during trading, a decline of 65% from the average daily volume of 488,571 shares. The stock had previously closed at $153.79.

Wall Street Analysts Forecast Growth

CAMT has been the subject of several research analyst reports. Stifel Nicolaus set a $170.00 target price on Camtek in a research note on Monday, August 10th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $175.00 target price on shares of Camtek in a research note on Tuesday, September 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Camtek in a research note on Tuesday, August 11th. Finally, Morgan Stanley cut their price objective on Camtek from $165.00 to $152.00 and set an “equal weight” rating on the stock in a report on Monday. Seven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $176.75.

Camtek Price Performance

The stock has a market cap of $7.67 billion, a P/E ratio of 258.30, a price-to-earnings-growth ratio of 3.34 and a beta of 1.56. The business has a 50-day simple moving average of $147.17 and a 200 day simple moving average of $161.56. The company has a current ratio of 7.38, a quick ratio of 6.58 and a debt-to-equity ratio of 0.69.

Camtek (NASDAQ:CAMT) last posted its quarterly earnings data on Monday, August 10th. The semiconductor company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. Camtek had a return on equity of 21.58% and a net margin of 7.40%.The company had revenue of $133.24 million for the quarter, compared to analyst estimates of $130.44 million. During the same period in the previous year, the firm earned $0.79 earnings per share. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. On average, analysts forecast that Camtek Ltd. will post 3.27 earnings per share for the current year.

Insider Activity at Camtek

In related news, VP Orit Geva-Dvash sold 508 shares of Camtek stock in a transaction on Monday, August 17th. The shares were sold at an average price of $175.00, for a total transaction of $88,900.00. Following the completion of the transaction, the vice president owned 5,205 shares of the company’s stock, valued at $910,875. This trade represents a 8.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Karni Yarl Andorn sold 3,176 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $164.40, for a total transaction of $522,134.40. Following the completion of the transaction, the director owned 1,343 shares in the company, valued at approximately $220,789.20. The trade was a 70.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 26,843 shares of company stock valued at $4,514,249 over the last 90 days. 79.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Camtek

Several institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its position 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 worth $45,000 after acquiring an additional 95 shares in the last quarter. Lifestyle Asset Management Inc. raised its stake in shares of Camtek by 2.5% during the 4th quarter. Lifestyle Asset Management Inc. now owns 4,764 shares of the semiconductor company’s stock valued at $507,000 after purchasing an additional 115 shares during the period. NewEdge Advisors LLC lifted its holdings in Camtek by 6.0% during the 1st quarter. NewEdge Advisors LLC now owns 2,072 shares of the semiconductor company’s stock worth $314,000 after purchasing an additional 117 shares in the last quarter. IFP Advisors Inc lifted its holdings in Camtek by 576.7% during the 2nd quarter. IFP Advisors Inc now owns 203 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 173 shares in the last quarter. Finally, Fifth Third Bancorp bought a new position in Camtek in the 1st quarter worth about $42,000. Institutional investors own 41.93% of the company’s stock.

Camtek Company Profile

Camtek Ltd. (NASDAQ: CAMT) is an Israel-based provider of inspection and metrology systems used in semiconductor manufacturing. The company develops equipment and software designed to identify defects, measure wafer and package characteristics, and support process control during the production of integrated circuits.

Camtek’s product portfolio serves a range of applications, including advanced packaging, heterogeneous integration, chiplets, memory, foundry and logic manufacturing, and other high-density semiconductor processes.