Pier Capital LLC Cuts Stake in Camtek Ltd. (NASDAQ:CAMT)

Pier Capital LLC lowered its position in Camtek Ltd. (NASDAQ:CAMT) by 43.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,486 shares of the semiconductor company’s stock after selling 48,583 shares during the quarter. Pier Capital LLC owned approximately 0.14% of Camtek worth $8,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of CAMT. Natixis Advisors L.P. purchased a new stake in Camtek in the fourth quarter worth approximately $1,099,000. BNP Paribas Financial Markets boosted its stake in Camtek by 24,285.8% in the fourth quarter. BNP Paribas Financial Markets now owns 44,626 shares of the semiconductor company’s stock worth $3,096,000 after buying an additional 44,443 shares in the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in Camtek in the fourth quarter worth approximately $214,000. Renaissance Group LLC boosted its stake in Camtek by 7.7% in the fourth quarter. Renaissance Group LLC now owns 41,014 shares of the semiconductor company’s stock worth $2,846,000 after buying an additional 2,943 shares in the last quarter. Finally, AXS Investments LLC bought a new stake in Camtek in the fourth quarter valued at approximately $451,000. Hedge funds and other institutional investors own 41.93% of the company’s stock.

Analyst Ratings Changes

CAMT has been the subject of several recent research reports. Bank of America boosted their price objective on Camtek from $98.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. Northland Securities upgraded Camtek from a “market perform” rating to an “outperform” rating and set a $99.00 price objective for the company in a research report on Monday, August 5th. Northland Capmk upgraded Camtek from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. B. Riley lowered their price objective on Camtek from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $140.00 price objective on shares of Camtek in a research report on Friday, August 2nd. One research 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’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $116.57.

Camtek Price Performance

Shares of Camtek stock opened at $77.72 on Wednesday. The company has a quick ratio of 4.29, a current ratio of 5.21 and a debt-to-equity ratio of 0.42. The company has a market cap of $3.53 billion, a PE ratio of 43.91, a P/E/G ratio of 1.61 and a beta of 1.39. The business has a 50 day moving average of $103.32 and a 200 day moving average of $96.03. Camtek Ltd. has a 52 week low of $48.50 and a 52 week high of $140.50.

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

Camtek Profile

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.