Fred Alger Management LLC Increases Holdings in Camtek Ltd. (NASDAQ:CAMT)

Fred Alger Management LLC grew its stake in Camtek Ltd. (NASDAQ:CAMT) by 224.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 217,474 shares of the semiconductor company’s stock after acquiring an additional 150,513 shares during the quarter. Fred Alger Management LLC owned 0.48% of Camtek worth $17,365,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Y.D. More Investments Ltd boosted its stake in Camtek by 723.7% in the 2nd quarter. Y.D. More Investments Ltd now owns 626,973 shares of the semiconductor company’s stock worth $78,709,000 after purchasing an additional 550,854 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Camtek by 3,005.3% in the third quarter. The Manufacturers Life Insurance Company now owns 330,716 shares of the semiconductor company’s stock worth $26,408,000 after buying an additional 320,066 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its stake in shares of Camtek by 21.5% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,515,452 shares of the semiconductor company’s stock worth $121,734,000 after buying an additional 268,258 shares in the last quarter. abrdn plc bought a new position in shares of Camtek in the third quarter worth approximately $11,387,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Camtek during the third quarter valued at approximately $9,174,000. 41.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Camtek Trading Up 3.6 %

Camtek stock opened at $74.50 on Friday. The business has a 50-day simple moving average of $78.66 and a two-hundred day simple moving average of $94.67. Camtek Ltd. has a 52-week low of $59.33 and a 52-week high of $140.50. The company has a quick ratio of 4.36, a current ratio of 5.28 and a debt-to-equity ratio of 0.38. The company has a market cap of $3.38 billion, a P/E ratio of 34.33, 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.06. Camtek had a net margin of 26.53% and a return on equity of 24.21%. The company had revenue of $112.30 million during the quarter, compared to analyst estimates of $108.51 million. During the same period in the previous year, the business posted $0.46 earnings per share. The firm’s quarterly revenue was up 39.5% compared to the same quarter last year. Analysts predict that Camtek Ltd. will post 2.53 EPS for the current year.

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.