Camtek (CAMT) Downgraded to Hold at BidaskClub

BidaskClub downgraded shares of Camtek (NASDAQ:CAMT) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

Several other research analysts have also commented on the stock. Zacks Investment Research upgraded shares of Camtek from a sell rating to a hold rating and set a $9.25 price target on the stock in a research note on Wednesday, August 1st. ValuEngine lowered shares of Camtek from a strong-buy rating to a buy rating in a research note on Saturday, May 26th. Finally, B. Riley increased their price target on shares of Camtek from $8.50 to $11.00 and gave the stock a buy rating in a research note on Wednesday, August 1st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Camtek has a consensus rating of Buy and an average target price of $9.56.

CAMT stock opened at $8.71 on Friday. Camtek has a 12-month low of $4.70 and a 12-month high of $11.11. The company has a market capitalization of $312.01 million, a price-to-earnings ratio of 21.55 and a beta of 1.23.

Camtek (NASDAQ:CAMT) last released its earnings results on Tuesday, July 31st. The semiconductor company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Camtek had a return on equity of 16.72% and a net margin of 20.86%. The company had revenue of $30.46 million during the quarter, compared to analysts’ expectations of $29.50 million. During the same quarter in the previous year, the company earned $0.06 EPS. The firm’s quarterly revenue was up 34.3% compared to the same quarter last year. equities analysts expect that Camtek will post 0.53 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC increased its stake in shares of Camtek by 10.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,271,500 shares of the semiconductor company’s stock worth $9,346,000 after purchasing an additional 125,000 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Camtek by 539.6% during the 2nd quarter. Acadian Asset Management LLC now owns 175,163 shares of the semiconductor company’s stock worth $1,286,000 after purchasing an additional 147,776 shares during the last quarter. Millennium Management LLC acquired a new position in shares of Camtek during the 2nd quarter worth $1,086,000. Macquarie Group Ltd. acquired a new position in shares of Camtek during the 2nd quarter worth $347,000. Finally, Jane Street Group LLC acquired a new position in shares of Camtek during the 2nd quarter worth $272,000. Institutional investors own 22.35% of the company’s stock.

About Camtek

Camtek Ltd. provides inspection and metrology solutions for the semiconductor industry in the Asia Pacific, North America, and Europe. The company provides solutions based on its advanced image processing, motion control, material handling, and optics related technologies. It designs, develops, manufactures, and markets automatic optical inspection (AOI) systems that optically inspect and measure various types of semiconductors wafers.

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