Camtek (NASDAQ:CAMT) Shares Gap Up – Time to Buy?

Camtek Ltd. (NASDAQ:CAMT) shares gapped up before the market opened on Thursday . The stock had previously closed at $166.90, but opened at $179.53. Camtek shares last traded at $167.82, with a volume of 61,642 shares.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CAMT shares. Weiss Ratings raised 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 target price on shares of Camtek in a research note on Wednesday, May 13th. Needham & Company LLC upped their price target on Camtek from $175.00 to $190.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Oppenheimer increased their price target on Camtek from $180.00 to $195.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Finally, Wall Street Zen raised Camtek from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $174.33.

Camtek Stock Up 2.3%

The firm’s fifty day simple moving average is $180.21 and its two-hundred day simple moving average is $156.84. 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 market capitalization of $7.82 billion, a price-to-earnings ratio of 195.52, a price-to-earnings-growth ratio of 4.07 and a beta of 1.54.

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

Institutional Investors Weigh In On Camtek

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp purchased a new position in shares of Camtek during the 1st quarter worth $42,000. EverSource Wealth Advisors LLC raised its holdings in Camtek by 46.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 298 shares of the semiconductor company’s stock valued at $45,000 after buying an additional 95 shares during the period. Daiwa Securities Group Inc. raised its holdings in Camtek by 202.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 299 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 200 shares during the period. Advisory Services Network LLC acquired a new position in Camtek in the third quarter valued at about $32,000. Finally, Global Retirement Partners LLC acquired a new position in Camtek in the fourth quarter valued at about $52,000. Institutional investors and hedge funds own 41.93% of the company’s stock.

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.