Camtek (NASDAQ:CAMT) Hits New 1-Year High After Analyst Upgrade

Camtek Ltd. (NASDAQ:CAMT)’s stock price hit a new 52-week high during mid-day trading on Tuesday after Needham & Company LLC raised their price target on the stock from $125.00 to $135.00. Needham & Company LLC currently has a buy rating on the stock. Camtek traded as high as $134.29 and last traded at $133.2490, with a volume of 177548 shares changing hands. The stock had previously closed at $123.88.

Several other analysts also recently weighed in on the company. Jefferies Financial Group increased their target price on Camtek from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, December 15th. Bank of America upgraded Camtek from a “neutral” rating to a “buy” rating and increased their target price for the stock from $95.00 to $135.00 in a report on Monday, October 13th. B. Riley upped their price objective on Camtek from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, October 10th. Zacks Research cut shares of Camtek from a “hold” rating to a “strong sell” rating in a research note on Friday. Finally, Northland Securities set a $140.00 price target on shares of Camtek in a research report on Tuesday, October 7th. Nine equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Camtek has a consensus rating of “Moderate Buy” and an average target price of $126.08.

Institutional Investors Weigh In On Camtek

Several institutional investors and hedge funds have recently made changes to their positions in the business. ARK Investment Management LLC boosted its holdings in shares of Camtek by 38.2% during the 2nd quarter. ARK Investment Management LLC now owns 27,386 shares of the semiconductor company’s stock valued at $2,316,000 after acquiring an additional 7,566 shares during the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of Camtek in the second quarter worth $338,000. Legal & General Group Plc grew its holdings in Camtek by 18.9% during the 2nd quarter. Legal & General Group Plc now owns 117,163 shares of the semiconductor company’s stock valued at $10,103,000 after buying an additional 18,584 shares in the last quarter. Taylor Frigon Capital Management LLC increased its position in shares of Camtek by 18.2% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 32,518 shares of the semiconductor company’s stock valued at $2,750,000 after purchasing an additional 5,005 shares during the last quarter. Finally, Y.D. More Investments Ltd raised its position in Camtek by 22.5% in the 2nd quarter. Y.D. More Investments Ltd now owns 644,657 shares of the semiconductor company’s stock worth $55,435,000 after purchasing an additional 118,226 shares during the period. Institutional investors own 41.93% of the company’s stock.

Camtek Price Performance

The stock has a 50 day moving average of $110.33 and a 200-day moving average of $100.23. The stock has a market capitalization of $6.04 billion, a P/E ratio of 147.78, a price-to-earnings-growth ratio of 2.49 and a beta of 1.55. The company has a current ratio of 7.58, a quick ratio of 6.52 and a debt-to-equity ratio of 0.90.

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.