ARK Investment Management LLC Reduces Stake in Camtek Ltd. (NASDAQ:CAMT)

ARK Investment Management LLC trimmed its holdings in Camtek Ltd. (NASDAQ:CAMT) by 1.7% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 27,429 shares of the semiconductor company’s stock after selling 474 shares during the period. ARK Investment Management LLC owned 0.06% of Camtek worth $3,435,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CAMT. Natixis Advisors L.P. purchased a new stake in shares of Camtek during the fourth quarter worth about $1,099,000. Axiom Investors LLC DE boosted its holdings in shares of Camtek by 288.5% in the 4th quarter. Axiom Investors LLC DE now owns 90,310 shares of the semiconductor company’s stock valued at $6,266,000 after buying an additional 67,067 shares during the period. Sei Investments Co. grew its position in shares of Camtek by 41.5% during the first quarter. Sei Investments Co. now owns 94,473 shares of the semiconductor company’s stock worth $7,914,000 after acquiring an additional 27,707 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Camtek by 5.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 171,810 shares of the semiconductor company’s stock valued at $11,920,000 after buying an additional 8,368 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in Camtek in the 4th quarter valued at about $10,704,000. 41.93% of the stock is currently owned by hedge funds and other institutional investors.

Camtek Price Performance

Shares of Camtek stock traded up $2.25 during trading hours on Tuesday, hitting $94.24. The company’s stock had a trading volume of 275,536 shares, compared to its average volume of 523,754. The company has a market cap of $4.23 billion, a PE ratio of 51.97, a PEG ratio of 1.98 and a beta of 1.41. Camtek Ltd. has a 12-month low of $48.50 and a 12-month high of $140.50. The company has a debt-to-equity ratio of 0.44, a quick ratio of 3.08 and a current ratio of 3.66. The business has a 50 day moving average price of $109.83 and a two-hundred day moving average price of $95.76.

Camtek (NASDAQ:CAMT) last announced its earnings results on Thursday, August 1st. The semiconductor company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The business had revenue of $102.60 million during the quarter, compared to the consensus estimate of $101.26 million. Camtek had a net margin of 25.93% and a return on equity of 22.79%. The firm’s revenue was up 39.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 earnings per share. Analysts expect that Camtek Ltd. will post 2.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Northland Capmk raised shares of Camtek from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Jefferies Financial Group initiated coverage on shares of Camtek in a research report on Monday, May 13th. They set a “buy” rating and a $120.00 target price on the stock. B. Riley lowered their target price on shares of Camtek from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Bank of America raised their price objective on Camtek from $98.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $140.00 price objective on shares of Camtek in a research report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Camtek currently has a consensus rating of “Buy” and an average price target of $109.75.

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.