Camtek (NASDAQ:CAMT) Stock Price Down 8% – Here’s Why

Shares of Camtek Ltd. (NASDAQ:CAMT) dropped 8% on Monday . The stock traded as low as $135.23 and last traded at $136.2040. 61,571 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 497,668 shares. The stock had previously closed at $147.97.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Morgan Stanley decreased their target price on Camtek from $167.00 to $165.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 11th. Stifel Nicolaus set a $170.00 price target on shares of Camtek in a research report on Monday, August 10th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Camtek in a report on Tuesday, August 11th. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $173.25.

Camtek Price Performance

The firm’s 50 day moving average price is $147.09 and its two-hundred day moving average price is $162.59. The company has a debt-to-equity ratio of 0.69, a current ratio of 7.38 and a quick ratio of 6.58. The stock has a market cap of $6.28 billion, a PE ratio of 210.41, a P/E/G ratio of 2.88 and a beta of 1.56.

Camtek (NASDAQ:CAMT) last announced its quarterly earnings results on Monday, August 10th. The semiconductor company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. Camtek had a net margin of 7.40% and a return on equity of 21.58%. The company had revenue of $133.24 million for the quarter, compared to analysts’ expectations of $130.44 million. During the same period in the prior year, the company posted $0.79 EPS. Camtek’s revenue was up 8.0% compared to the same quarter last year. On average, research analysts expect that Camtek Ltd. will post 3.27 earnings per share for the current year.

Insider Activity

In other news, VP Orit Geva-Dvash sold 508 shares of Camtek stock in a transaction on Monday, August 17th. The stock was sold at an average price of $175.00, for a total value of $88,900.00. Following the completion of the transaction, the vice president directly owned 5,205 shares in the company, valued at approximately $910,875. The trade was a 8.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Rafi Amit sold 6,250 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $170.52, for a total value of $1,065,750.00. Following the sale, the chief executive officer owned 55,350 shares in the company, valued at approximately $9,438,282. The trade was a 10.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 26,843 shares of company stock valued at $4,514,249. 79.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CAMT. Raiffeisen Bank International AG boosted its stake in Camtek by 26.3% during the fourth quarter. Raiffeisen Bank International AG now owns 120,000 shares of the semiconductor company’s stock valued at $13,032,000 after buying an additional 25,000 shares during the period. Y.D. More Investments Ltd increased its stake in Camtek by 20.8% in the 1st quarter. Y.D. More Investments Ltd now owns 783,365 shares of the semiconductor company’s stock worth $114,901,000 after acquiring an additional 134,791 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Camtek in the 1st quarter worth about $7,225,000. Lisanti Capital Growth LLC purchased a new stake in shares of Camtek in the 4th quarter valued at about $2,301,000. Finally, Analog Century Management LP raised its holdings in shares of Camtek by 14.8% in the 4th quarter. Analog Century Management LP now owns 693,720 shares of the semiconductor company’s stock valued at $73,774,000 after acquiring an additional 89,461 shares in the last quarter. Institutional investors own 41.93% of the company’s stock.

Camtek Company Profile

Camtek Ltd. (NASDAQ: CAMT) is an Israel-based semiconductor equipment company that develops, manufactures and sells automated inspection and metrology systems. Its technologies are used to detect defects, measure wafer and package characteristics, and support process control during semiconductor manufacturing and advanced packaging.

The company’s product portfolio includes inspection systems for wafers, substrates and semiconductor packages, as well as metrology solutions and related software.