Camtek (NASDAQ:CAMT) Shares Gap Up – Should You Buy?

Camtek Ltd. (NASDAQ:CAMT) shares gapped up before the market opened on Friday . The stock had previously closed at $71.89, but opened at $73.85. Camtek shares last traded at $75.82, with a volume of 50,572 shares trading hands.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Northland Capmk upgraded shares of Camtek from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Northland Securities upped their price target on shares of Camtek from $99.00 to $102.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. B. Riley lowered their target price on Camtek from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. StockNews.com raised Camtek from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $95.00 price target on shares of Camtek in a report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $110.57.

Camtek Price Performance

The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.36 and a current ratio of 5.28. The stock has a 50 day moving average of $78.65 and a two-hundred day moving average of $94.80. The firm has a market capitalization of $3.41 billion, a P/E ratio of 33.13, a P/E/G ratio of 1.31 and a beta of 1.38.

Camtek (NASDAQ:CAMT) last announced its earnings results on Tuesday, November 12th. The semiconductor company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.69 by $0.06. The firm had revenue of $112.30 million for the quarter, compared to the consensus estimate of $108.51 million. Camtek had a net margin of 26.53% and a return on equity of 24.21%. During the same quarter last year, the firm posted $0.46 EPS. The business’s quarterly revenue was up 39.5% on a year-over-year basis. Sell-side analysts predict that Camtek Ltd. will post 2.53 earnings per share for the current fiscal year.

Institutional Trading of Camtek

Several hedge funds have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. lifted its holdings in shares of Camtek by 78.8% during the third quarter. Advisors Asset Management Inc. now owns 329 shares of the semiconductor company’s stock worth $26,000 after buying an additional 145 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Camtek in the 3rd quarter valued at $53,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Camtek by 23,300.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 468 shares of the semiconductor company’s stock worth $59,000 after purchasing an additional 466 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Camtek by 524.6% in the first quarter. Russell Investments Group Ltd. now owns 1,474 shares of the semiconductor company’s stock valued at $123,000 after buying an additional 1,238 shares during the period. Finally, Gateway Wealth Partners LLC acquired a new position in Camtek in the 2nd quarter valued at approximately $220,000. Institutional investors own 41.93% of the company’s stock.

About Camtek

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.