Camtek (NASDAQ:CAMT) Stock Price Down 9.6% – Here’s What Happened

Camtek Ltd. (NASDAQ:CAMT)’s share price fell 9.6% during mid-day trading on Monday . The stock traded as low as $151.91 and last traded at $152.2060. 783,185 shares traded hands during trading, an increase of 53% from the average session volume of 512,396 shares. The stock had previously closed at $168.35.

Analysts Set New Price Targets

Several research firms recently issued reports on CAMT. Weiss Ratings raised shares of Camtek from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday. Northland Securities set a $174.00 price target on shares of Camtek in a research note on Wednesday, May 13th. Oppenheimer lifted their price target on shares of Camtek from $180.00 to $195.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Wall Street Zen raised shares of Camtek from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Finally, B. Riley Financial reissued a “buy” rating on shares of Camtek in a research report on Monday, April 20th. Seven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Camtek presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.33.

Camtek Price Performance

The company’s 50-day moving average price is $172.94 and its two-hundred day moving average price is $143.95. The company has a market cap of $7.14 billion, a P/E ratio of 179.01, a P/E/G ratio of 4.05 and a beta of 1.61. The company has a current ratio of 8.35, a quick ratio of 7.46 and a debt-to-equity ratio of 0.71.

Camtek (NASDAQ:CAMT) last announced its quarterly earnings data on Tuesday, May 12th. The semiconductor company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Camtek had a net margin of 9.63% and a return on equity of 22.26%. The business had revenue of $121.66 million during the quarter, compared to the consensus estimate of $120.15 million. During the same quarter in the prior year, the firm earned $0.79 EPS. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, sell-side analysts expect that Camtek Ltd. will post 3.13 earnings per share for the current year.

Institutional Trading of Camtek

Institutional investors have recently made changes to their positions in the stock. Fifth Third Bancorp acquired a new stake in shares of Camtek in the 1st quarter worth approximately $42,000. Daiwa Securities Group Inc. lifted its stake in shares of Camtek by 202.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 299 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 200 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Camtek in the 3rd quarter worth approximately $32,000. Global Retirement Partners LLC bought a new stake in shares of Camtek in the 4th quarter worth approximately $52,000. Finally, Rothschild Investment LLC bought a new stake in shares of Camtek in the 3rd quarter worth approximately $54,000. 41.93% of the stock is owned by institutional investors and hedge funds.

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.