Camtek (NASDAQ:CAMT) Posts Earnings Results, Beats Expectations By $0.02 EPS

Camtek (NASDAQ:CAMT) issued its quarterly earnings results on Thursday. The semiconductor company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.02, Briefing.com reports. Camtek had a net margin of 25.93% and a return on equity of 22.79%. The firm had revenue of $102.60 million for the quarter, compared to analyst estimates of $101.26 million. During the same period in the previous year, the business earned $0.38 EPS. The company’s revenue was up 39.4% compared to the same quarter last year. Camtek updated its Q3 2024 guidance to EPS.

Camtek Stock Performance

NASDAQ CAMT traded down $7.93 during trading on Friday, reaching $84.09. The company’s stock had a trading volume of 1,489,574 shares, compared to its average volume of 902,036. The company has a current ratio of 3.66, a quick ratio of 3.08 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of 47.51, a price-to-earnings-growth ratio of 1.98 and a beta of 1.41. Camtek has a 12 month low of $44.08 and a 12 month high of $140.50. The firm has a 50 day moving average price of $114.78 and a 200 day moving average price of $93.82.

Analysts Set New Price Targets

CAMT has been the topic of several recent research reports. Northland Capmk lowered shares of Camtek from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 16th. Bank of America lifted their price objective on shares of Camtek from $98.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. Jefferies Financial Group started coverage on shares of Camtek in a research report on Monday, May 13th. They issued a “buy” rating and a $120.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $140.00 price objective on shares of Camtek in a research report on Friday. Finally, Northland Securities downgraded shares of Camtek from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 16th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $111.29.

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.