Camtek (NASDAQ:CAMT) Shares Gap Up to $76.66

Camtek Ltd. (NASDAQ:CAMT) shares gapped up before the market opened on Thursday . The stock had previously closed at $76.66, but opened at $86.73. Camtek shares last traded at $87.19, with a volume of 213,881 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. B. Riley dropped their target price on Camtek from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and set a $140.00 price objective on shares of Camtek in a research note on Friday, August 2nd. Northland Securities upgraded shares of Camtek from a “market perform” rating to an “outperform” rating and set a $99.00 target price for the company in a research note on Monday, August 5th. Finally, Northland Capmk raised shares of Camtek from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $116.57.

Camtek Trading Down 3.8 %

The company has a quick ratio of 4.29, a current ratio of 5.21 and a debt-to-equity ratio of 0.42. The firm has a market cap of $3.71 billion, a P/E ratio of 46.71, a price-to-earnings-growth ratio of 1.43 and a beta of 1.39. The firm’s 50-day simple moving average is $89.40 and its 200 day simple moving average is $95.57.

Camtek (NASDAQ:CAMT) last posted its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. Camtek had a net margin of 25.93% and a return on equity of 22.57%. The company had revenue of $102.60 million for the quarter, compared to analysts’ expectations of $101.26 million. During the same quarter in the previous year, the firm posted $0.38 EPS. Camtek’s revenue was up 39.4% on a year-over-year basis. As a group, analysts expect that Camtek Ltd. will post 2.45 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CAMT. Lord Abbett & CO. LLC bought a new position in Camtek during the first quarter worth about $55,026,000. Y.D. More Investments Ltd lifted its stake in shares of Camtek by 723.7% during the 2nd quarter. Y.D. More Investments Ltd now owns 626,973 shares of the semiconductor company’s stock valued at $78,709,000 after buying an additional 550,854 shares in the last quarter. Zweig DiMenna Associates LLC bought a new position in Camtek in the 1st quarter worth approximately $13,964,000. Quadrature Capital Ltd purchased a new position in Camtek in the 4th quarter valued at approximately $10,704,000. Finally, Fred Alger Management LLC bought a new stake in Camtek during the 2nd quarter valued at $8,386,000. Institutional investors own 41.93% of the company’s stock.

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.