Camtek (NASDAQ:CAMT) Stock Gets Price Target Cut from Needham & Company LLC

Camtek (NASDAQ:CAMT) had its target price cut by Needham & Company LLC from $170.00 to $130.00 in a research report report published on Wednesday,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other research firms also recently commented on CAMT. B. Riley Financial dropped their price objective on Camtek from $200.00 to $166.00 and set a “buy” rating on the stock in a research note on Tuesday, October 20th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $175.00 target price on shares of Camtek in a research note on Tuesday, September 22nd. Morgan Stanley lowered Camtek from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $152.00 to $126.00 in a report on Monday, November 2nd. Stifel Nicolaus set a $170.00 price target on shares of Camtek in a research report on Monday, August 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Camtek in a research note on Tuesday, August 11th. Seven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Camtek currently has a consensus rating of “Hold” and a consensus target price of $166.33.

Camtek Stock Performance

Shares of NASDAQ CAMT traded up $5.13 during midday trading on Wednesday, reaching $97.05. 898,978 shares of the company traded hands, compared to its average volume of 579,925. The company has a market cap of $4.53 billion, a price-to-earnings ratio of 36.76, a PEG ratio of 2.16 and a beta of 1.69. The stock has a 50-day moving average price of $136.75 and a 200 day moving average price of $156.05. Camtek has a 52 week low of $89.13 and a 52 week high of $215.99. The company has a debt-to-equity ratio of 0.69, a current ratio of 7.38 and a quick ratio of 6.58.

Camtek (NASDAQ:CAMT) last released its quarterly earnings results on Wednesday, November 4th. The semiconductor company reported $0.99 EPS for the quarter, hitting analysts’ consensus estimates of $0.99. Camtek had a net margin of 7.40% and a return on equity of 21.58%. The company had revenue of $161.29 million for the quarter, compared to the consensus estimate of $160.36 million. During the same period in the previous year, the firm earned $0.82 EPS. Camtek’s revenue was up 28.0% on a year-over-year basis. Sell-side analysts anticipate that Camtek will post 3.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Camtek

In other news, VP Orit Geva-Dvash sold 508 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $175.00, for a total transaction of $88,900.00. Following the sale, the vice president owned 5,205 shares in the company, valued at $910,875. The trade was a 8.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Rafi Amit sold 6,250 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $170.52, for a total transaction of $1,065,750.00. Following the completion of the sale, the chief executive officer owned 55,350 shares of the company’s stock, valued at approximately $9,438,282. This trade represents a 10.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 26,843 shares of company stock valued at $4,514,249 over the last three months. 79.40% of the stock is owned by insiders.

Institutional Trading of Camtek

Several hedge funds and other institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its position in Camtek by 46.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 298 shares of the semiconductor company’s stock worth $45,000 after buying an additional 95 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of Camtek by 6.0% in the 1st quarter. NewEdge Advisors LLC now owns 2,072 shares of the semiconductor company’s stock valued at $314,000 after purchasing an additional 117 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of Camtek by 576.7% in the 2nd quarter. IFP Advisors Inc now owns 203 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 173 shares during the last quarter. Ashton Thomas Private Wealth LLC boosted its holdings in Camtek by 12.3% in the third quarter. Ashton Thomas Private Wealth LLC now owns 1,763 shares of the semiconductor company’s stock worth $274,000 after purchasing an additional 193 shares in the last quarter. Finally, Fifth Third Bancorp acquired a new position in Camtek during the first quarter worth $42,000. Institutional investors and hedge funds own 41.93% of the company’s stock.

Camtek Company Profile

Camtek Ltd. (NASDAQ: CAMT) is an Israel-based provider of inspection and metrology equipment for the semiconductor industry. The company develops and manufactures systems that help chipmakers detect defects, measure manufacturing processes, and improve production yields during the fabrication and packaging of semiconductor devices.

Its product portfolio includes automated optical inspection and metrology systems for wafers, substrates, and packaged devices, along with inspection solutions for advanced packaging, memory, image sensors, and other specialty semiconductor applications.