Camtek (NASDAQ:CAMT) Shares Down 5.1% - What's Next?

Camtek Ltd. (NASDAQ:CAMT - Get Free Report)'s stock price was down 5.1% during mid-day trading on Friday . The company traded as low as $75.37 and last traded at $75.54. Approximately 126,840 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 531,951 shares. The stock had previously closed at $79.56.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CAMT. Northland Capmk raised Camtek from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 5th. B. Riley reduced their target price on shares of Camtek from $150.00 to $140.00 and set a "buy" rating for the company in a research report on Friday, August 2nd. StockNews.com upgraded shares of Camtek from a "sell" rating to a "hold" rating in a research report on Friday, October 25th. Needham & Company LLC reissued a "buy" rating and issued a $140.00 target price on shares of Camtek in a research note on Friday, August 2nd. Finally, Northland Securities upgraded Camtek from a "market perform" rating to an "outperform" rating and set a $99.00 target price on the stock in a report on Monday, August 5th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Camtek presently has a consensus rating of "Buy" and a consensus price target of $116.57.

Camtek Price Performance

The firm has a market cap of $3.37 billion, a price-to-earnings ratio of 37.92, a P/E/G ratio of 1.65 and a beta of 1.38. The company has a current ratio of 5.21, a quick ratio of 4.29 and a debt-to-equity ratio of 0.42. The stock's fifty day moving average price is $81.62 and its 200-day moving average price is $95.53.

Camtek (NASDAQ:CAMT - Get Free Report) last posted its earnings results on Thursday, August 1st. The semiconductor company reported $0.66 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.02. The company had revenue of $102.60 million for the quarter, compared to the consensus estimate of $101.26 million. Camtek had a return on equity of 22.57% and a net margin of 25.93%. The company's revenue for the quarter was up 39.4% on a year-over-year basis. During the same quarter in the previous year, the business 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 fiscal year.

Institutional Investors Weigh In On Camtek

Several institutional investors and hedge funds have recently modified their holdings of the company. Fred Alger Management LLC purchased a new stake in Camtek during the second quarter worth about $8,386,000. Sei Investments Co. lifted its holdings in Camtek by 41.5% during the 1st quarter. Sei Investments Co. now owns 94,473 shares of the semiconductor company's stock worth $7,914,000 after buying an additional 27,707 shares in the last quarter. Jennison Associates LLC boosted its position in Camtek by 383.1% in the 1st quarter. Jennison Associates LLC now owns 23,015 shares of the semiconductor company's stock valued at $1,928,000 after buying an additional 18,251 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Camtek in the second quarter worth $1,423,000. Finally, Tidal Investments LLC purchased a new stake in shares of Camtek during the first quarter worth $1,716,000. Hedge funds and other institutional investors own 41.93% of the company's stock.

Camtek Company 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.