Camtek (NASDAQ:CAMT) Shares Gap Up – Here’s What Happened

Camtek Ltd. (NASDAQ:CAMT) shares gapped up before the market opened on Thursday . The stock had previously closed at $81.62, but opened at $84.70. Camtek shares last traded at $84.29, with a volume of 25,968 shares changing hands.

Wall Street Analyst Weigh In

CAMT has been the topic of a number of research analyst reports. B. Riley reduced their price target on Camtek from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Northland Securities raised Camtek from a “market perform” rating to an “outperform” rating and set a $99.00 target price on the stock in a research note on Monday, August 5th. Northland Capmk raised Camtek from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Finally, Needham & Company LLC reissued a “buy” rating and set a $140.00 price objective on shares of Camtek in a research report on Friday, August 2nd. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $116.57.

Camtek Stock Up 2.3 %

The stock has a market capitalization of $3.75 billion, a PE ratio of 46.11, a P/E/G ratio of 1.55 and a beta of 1.38. The stock’s 50-day moving average price is $84.96 and its two-hundred day moving average price is $95.62. The company has a debt-to-equity ratio of 0.42, a quick ratio of 4.29 and a current ratio of 5.21.

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

Institutional Trading of Camtek

Several institutional investors have recently bought and sold shares of CAMT. Northwestern Mutual Wealth Management Co. raised its stake in shares of Camtek by 23,300.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 468 shares of the semiconductor company’s stock worth $59,000 after purchasing an additional 466 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Camtek in the first quarter worth $50,000. Russell Investments Group Ltd. increased its position in Camtek by 524.6% during the first quarter. Russell Investments Group Ltd. now owns 1,474 shares of the semiconductor company’s stock valued at $123,000 after acquiring an additional 1,238 shares during the last quarter. Gateway Wealth Partners LLC bought a new position in Camtek in the second quarter valued at about $220,000. Finally, Susquehanna International Group Ltd. purchased a new position in Camtek in the second quarter worth about $237,000. 41.93% of the stock is owned by hedge funds and other institutional investors.

About Camtek

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.