Royal Bank of Canada Reduces Position in Camtek Ltd. $CAMT

Royal Bank of Canada lessened its holdings in shares of Camtek Ltd. (NASDAQ:CAMT) by 14.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 146,608 shares of the semiconductor company’s stock after selling 24,574 shares during the period. Royal Bank of Canada owned 0.32% of Camtek worth $22,227,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Lazard Asset Management LLC raised its stake in Camtek by 149.1% during the 1st quarter. Lazard Asset Management LLC now owns 5,413 shares of the semiconductor company’s stock valued at $821,000 after acquiring an additional 3,240 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Camtek during the 1st quarter worth approximately $7,225,000. State of Wyoming lifted its holdings in Camtek by 70.8% in the 1st quarter. State of Wyoming now owns 10,057 shares of the semiconductor company’s stock valued at $1,525,000 after purchasing an additional 4,168 shares in the last quarter. First Trust Advisors LP purchased a new position in shares of Camtek during the 1st quarter worth $332,000. Finally, Swiss National Bank boosted its position in shares of Camtek by 1.9% in the first quarter. Swiss National Bank now owns 59,485 shares of the semiconductor company’s stock worth $8,711,000 after acquiring an additional 1,085 shares during the last quarter. 41.93% of the stock is owned by institutional investors and hedge funds.

Camtek Stock Down 2.7%

CAMT stock opened at $147.60 on Thursday. The firm has a market cap of $6.89 billion, a PE ratio of 169.66, a PEG ratio of 3.64 and a beta of 1.58. The company has a current ratio of 8.35, a quick ratio of 7.46 and a debt-to-equity ratio of 0.71. The company has a fifty day simple moving average of $159.83 and a 200 day simple moving average of $162.98. Camtek Ltd. has a 1 year low of $75.75 and a 1 year high of $215.99.

Camtek (NASDAQ:CAMT) last announced its quarterly earnings results on Tuesday, May 12th. The semiconductor company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. The company had revenue of $121.66 million for the quarter, compared to the consensus estimate of $120.15 million. Camtek had a return on equity of 22.26% and a net margin of 9.63%.The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.79 earnings per share. Sell-side analysts anticipate that Camtek Ltd. will post 3.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CAMT has been the subject of several research reports. Weiss Ratings upgraded shares of Camtek from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 14th. Northland Securities set a $174.00 price objective on shares of Camtek in a research note on Wednesday, May 13th. Morgan Stanley boosted their price objective on Camtek from $163.00 to $167.00 and gave the stock an “equal weight” rating in a research report on Monday, July 6th. Jefferies Financial Group increased their price target on Camtek from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Finally, Evercore restated an “outperform” rating and issued a $200.00 target price on shares of Camtek in a report on Wednesday, May 13th. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Camtek has a consensus rating of “Moderate Buy” and a consensus price target of $174.67.

About Camtek

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.