Camtek (CAMT) Raised to Buy at BidaskClub

BidaskClub upgraded shares of Camtek (NASDAQ:CAMT) from a hold rating to a buy rating in a research note published on Wednesday morning.

Several other equities research analysts have also recently issued reports on the stock. ValuEngine cut shares of Camtek from a buy rating to a hold rating in a research report on Tuesday, October 9th. B. Riley lifted their price objective on shares of Camtek from $10.00 to $10.50 and gave the stock a buy rating in a research report on Thursday, November 1st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $9.44.

Camtek stock opened at $7.88 on Wednesday. The firm has a market cap of $292.46 million, a PE ratio of 17.57 and a beta of 0.81. Camtek has a 12-month low of $5.15 and a 12-month high of $11.11.

Camtek (NASDAQ:CAMT) last released its quarterly earnings data on Wednesday, October 31st. The semiconductor company reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.02. The business had revenue of $32.30 million during the quarter, compared to analysts’ expectations of $31.75 million. Camtek had a net margin of 13.65% and a return on equity of 18.87%. Camtek’s revenue for the quarter was up 35.7% on a year-over-year basis. As a group, research analysts anticipate that Camtek will post 0.55 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D purchased a new stake in shares of Camtek during the 3rd quarter worth $142,000. Engineers Gate Manager LP purchased a new stake in Camtek in the third quarter valued at $245,000. Jane Street Group LLC purchased a new stake in Camtek in the second quarter valued at $272,000. Macquarie Group Ltd. purchased a new stake in Camtek in the second quarter valued at $347,000. Finally, JPMorgan Chase & Co. lifted its position in Camtek by 7,075.6% in the third quarter. JPMorgan Chase & Co. now owns 48,794 shares of the semiconductor company’s stock valued at $418,000 after acquiring an additional 48,114 shares during the last quarter. 23.71% of the stock is owned by institutional investors and hedge funds.

Camtek Company Profile

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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