Camtek (NASDAQ:CAMT) Issues Quarterly Earnings Results

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

Camtek Price Performance

CAMT stock 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. Camtek has a 1 year low of $44.08 and a 1 year high of $140.50. The company has a quick ratio of 3.08, a current ratio of 3.66 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $3.78 billion, a P/E ratio of 47.51, a price-to-earnings-growth ratio of 1.98 and a beta of 1.41. The company’s fifty day moving average is $114.78 and its 200-day moving average is $93.96.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CAMT shares. B. Riley lowered their price target on Camtek from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Friday. Jefferies Financial Group started coverage on Camtek in a report on Monday, May 13th. They set a “buy” rating and a $120.00 price target on the stock. Bank of America increased their price target on Camtek from $98.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Evercore ISI began coverage on Camtek in a report on Tuesday, April 16th. They set an “outperform” rating and a $100.00 price target on the stock. Finally, Northland Capmk cut Camtek from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 16th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.