ARK Investment Management LLC Cuts Stake in Camtek Ltd. (NASDAQ:CAMT)

ARK Investment Management LLC cut its position in Camtek Ltd. (NASDAQ:CAMT) by 9.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 19,820 shares of the semiconductor company’s stock after selling 2,035 shares during the period. ARK Investment Management LLC’s holdings in Camtek were worth $1,162,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CAMT. Menora Mivtachim Holdings LTD. increased its position in shares of Camtek by 81.8% during the fourth quarter. Menora Mivtachim Holdings LTD. now owns 1,566,433 shares of the semiconductor company’s stock valued at $126,521,000 after acquiring an additional 705,000 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Camtek by 27.6% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,448,441 shares of the semiconductor company’s stock worth $84,922,000 after purchasing an additional 312,988 shares in the last quarter. Wasatch Advisors LP increased its holdings in shares of Camtek by 311.8% in the 4th quarter. Wasatch Advisors LP now owns 1,192,784 shares of the semiconductor company’s stock worth $96,341,000 after purchasing an additional 903,126 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Camtek by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 983,986 shares of the semiconductor company’s stock worth $80,028,000 after purchasing an additional 14,702 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Camtek by 1.7% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 980,074 shares of the semiconductor company’s stock valued at $57,462,000 after purchasing an additional 16,200 shares in the last quarter. 41.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CAMT has been the subject of several research analyst reports. Wall Street Zen raised Camtek from a “sell” rating to a “hold” rating in a research report on Wednesday, May 21st. Oppenheimer began coverage on shares of Camtek in a report on Wednesday, July 2nd. They set an “outperform” rating and a $100.00 price objective for the company. Needham & Company LLC lowered their price objective on shares of Camtek from $110.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, May 14th. Evercore ISI cut their target price on shares of Camtek from $100.00 to $82.00 and set an “outperform” rating for the company in a research report on Wednesday, May 14th. Finally, Barclays lowered their price target on Camtek from $120.00 to $85.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.00.

Camtek Trading Up 1.7%

Shares of Camtek stock opened at $95.81 on Friday. Camtek Ltd. has a 1-year low of $47.41 and a 1-year high of $110.73. The company’s fifty day simple moving average is $79.40 and its 200-day simple moving average is $75.68. The company has a debt-to-equity ratio of 0.34, a current ratio of 5.28 and a quick ratio of 4.27. The stock has a market capitalization of $4.37 billion, a PE ratio of 36.71, a P/E/G ratio of 2.61 and a beta of 1.34.

Camtek (NASDAQ:CAMT) last announced its earnings results on Tuesday, May 13th. The semiconductor company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. Camtek had a return on equity of 24.57% and a net margin of 28.40%. The company had revenue of $118.64 million for the quarter, compared to analysts’ expectations of $119.00 million. During the same period last year, the firm earned $0.63 EPS. Camtek’s revenue for the quarter was up 22.3% compared to the same quarter last year. As a group, equities analysts anticipate that Camtek Ltd. will post 2.93 earnings per share for the current year.

Camtek Company Profile

Camtek Ltd., together with its subsidiaries, develops, manufactures, and sells inspection and metrology equipment for semiconductor industry. The company provides Eagle-i, a system that delivers 2D inspection and metrology capabilities; Eagle-AP, which addresses the advanced packaging market using software and hardware technologies that deliver superior 2D and 3D inspection and metrology capabilities on the same platform; and Golden Eagle, a panel inspection and metrology system to address the challenges fanout wafer level packaging applications.