Camtek (NASDAQ:CAMT) Trading Down 9.9% – Time to Sell?

Camtek Ltd. (NASDAQ:CAMT) shares dropped 9.9% during mid-day trading on Tuesday . The stock traded as low as $173.61 and last traded at $176.3820. Approximately 102,531 shares changed hands during trading, a decline of 79% from the average daily volume of 500,075 shares. The stock had previously closed at $195.72.

Analyst Ratings Changes

A number of research firms have issued reports on CAMT. Jefferies Financial Group upped their target price on shares of Camtek from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Wall Street Zen raised shares of Camtek from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Barclays upped their target price on shares of Camtek from $175.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Morgan Stanley increased their price target on Camtek from $161.00 to $163.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 13th. Finally, Evercore reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Camtek in a research note on Wednesday, May 13th. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Camtek has a consensus rating of “Moderate Buy” and an average target price of $174.33.

Camtek Price Performance

The company’s 50 day simple moving average is $180.21 and its 200 day simple moving average is $156.84. The company has a debt-to-equity ratio of 0.71, a current ratio of 8.35 and a quick ratio of 7.46. The stock has a market cap of $7.65 billion, a P/E ratio of 191.84, a P/E/G ratio of 4.07 and a beta of 1.54.

Camtek (NASDAQ:CAMT) last announced its quarterly earnings results on Tuesday, May 12th. The semiconductor company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Camtek had a net margin of 9.63% and a return on equity of 22.26%. The company had revenue of $121.66 million for the quarter, compared to analysts’ expectations of $120.15 million. During the same period last year, the firm posted $0.79 earnings per share. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, equities analysts forecast that Camtek Ltd. will post 3.14 earnings per share for the current year.

Institutional Investors Weigh In On Camtek

Several large investors have recently modified their holdings of CAMT. Advisors Asset Management Inc. raised its position in shares of Camtek by 61.6% during the first quarter. Advisors Asset Management Inc. now owns 769 shares of the semiconductor company’s stock worth $45,000 after purchasing an additional 293 shares during the period. Goldman Sachs Group Inc. increased its stake in Camtek by 12.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 149,223 shares of the semiconductor company’s stock worth $8,749,000 after purchasing an additional 16,117 shares in the last quarter. Geode Capital Management LLC increased its stake in Camtek by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 39,420 shares of the semiconductor company’s stock worth $3,333,000 after purchasing an additional 279 shares in the last quarter. Cetera Investment Advisers raised its holdings in Camtek by 4.7% during the 2nd quarter. Cetera Investment Advisers now owns 4,841 shares of the semiconductor company’s stock worth $409,000 after buying an additional 217 shares during the period. Finally, Invesco Ltd. lifted its stake in Camtek by 8.3% in the second quarter. Invesco Ltd. now owns 263,836 shares of the semiconductor company’s stock valued at $22,310,000 after buying an additional 20,237 shares in the last quarter. 41.93% of the stock is currently owned by institutional investors.

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.