Camtek (NASDAQ:CAMT) Stock Price Down 7.7% – Here’s Why

Camtek Ltd. (NASDAQ:CAMT)’s share price dropped 7.7% during mid-day trading on Friday . The company traded as low as $152.21 and last traded at $152.3160. Approximately 209,927 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 569,222 shares. The stock had previously closed at $165.03.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CAMT shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $120.00 target price on shares of Camtek in a report on Tuesday, December 16th. Zacks Research raised shares of Camtek from a “strong sell” rating to a “hold” rating in a report on Monday, February 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Camtek in a research report on Monday, December 29th. Needham & Company LLC increased their price objective on shares of Camtek from $160.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $145.00 target price on shares of Camtek in a research report on Wednesday, February 18th. Eight analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $165.92.

Camtek Stock Down 10.7%

The stock has a 50 day moving average price of $145.16 and a 200 day moving average price of $118.99. The stock has a market capitalization of $6.72 billion, a price-to-earnings ratio of 156.71, a price-to-earnings-growth ratio of 3.49 and a beta of 1.53. The company has a quick ratio of 7.31, a current ratio of 8.35 and a debt-to-equity ratio of 0.84.

Camtek (NASDAQ:CAMT) last released its quarterly earnings results on Wednesday, February 18th. The semiconductor company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.02). The firm had revenue of $128.12 million for the quarter, compared to the consensus estimate of $127.10 million. Camtek had a return on equity of 23.61% and a net margin of 10.23%.The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 earnings per share. As a group, analysts forecast that Camtek Ltd. will post 2.93 EPS for the current year.

Hedge Funds Weigh In On Camtek

Several institutional investors and hedge funds have recently added to or reduced their stakes in CAMT. Daiwa Securities Group Inc. raised its stake in shares of Camtek by 202.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 299 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 200 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Camtek in the third quarter worth $32,000. Advisors Asset Management Inc. increased its holdings in Camtek by 61.6% in the first quarter. Advisors Asset Management Inc. now owns 769 shares of the semiconductor company’s stock valued at $45,000 after purchasing an additional 293 shares during the period. Global Retirement Partners LLC acquired a new stake in Camtek in the fourth quarter valued at $52,000. Finally, Rothschild Investment LLC bought a new position in Camtek during the 3rd quarter worth $54,000. 41.93% of the stock is currently owned by institutional investors and hedge funds.

About Camtek

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.