Camtek (NASDAQ:CAMT) Shares Gap Down – Time to Sell?

Camtek Ltd. (NASDAQ:CAMT)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $100.75, but opened at $89.36. Camtek shares last traded at $88.85, with a volume of 396,628 shares traded.

Wall Street Analysts Forecast Growth

CAMT has been the topic of several research reports. Stifel Nicolaus restated a “buy” rating and issued a $105.00 target price on shares of Camtek in a research note on Thursday, December 12th. Cantor Fitzgerald started coverage on shares of Camtek in a research report on Monday, January 13th. They issued a “neutral” rating and a $100.00 price objective on the stock. StockNews.com raised shares of Camtek from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Barclays cut their price target on shares of Camtek from $140.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Finally, Needham & Company LLC restated a “buy” rating and issued a $95.00 price objective on shares of Camtek in a report on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $112.44.

Camtek Stock Down 12.9 %

The stock has a fifty day moving average price of $83.10 and a two-hundred day moving average price of $86.47. The company has a market cap of $3.98 billion, a price-to-earnings ratio of 40.58, a P/E/G ratio of 1.66 and a beta of 1.33. The company has a quick ratio of 4.36, a current ratio of 5.28 and a debt-to-equity ratio of 0.38.

Camtek (NASDAQ:CAMT) last released its quarterly earnings results on Tuesday, November 12th. The semiconductor company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $108.51 million. During the same period in the previous year, the business earned $0.46 earnings per share. The firm’s quarterly revenue was up 39.5% on a year-over-year basis. As a group, sell-side analysts expect that Camtek Ltd. will post 2.53 EPS for the current year.

Hedge Funds Weigh In On Camtek

Several hedge funds and other institutional investors have recently modified their holdings of CAMT. Two Sigma Advisers LP raised its holdings in Camtek by 107.5% in the 3rd quarter. Two Sigma Advisers LP now owns 720,700 shares of the semiconductor company’s stock valued at $57,548,000 after buying an additional 373,400 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Camtek by 3,005.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 330,716 shares of the semiconductor company’s stock worth $26,408,000 after purchasing an additional 320,066 shares during the period. Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of Camtek by 21.5% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,515,452 shares of the semiconductor company’s stock valued at $121,734,000 after purchasing an additional 268,258 shares during the last quarter. Fred Alger Management LLC raised its stake in Camtek by 224.8% during the third quarter. Fred Alger Management LLC now owns 217,474 shares of the semiconductor company’s stock worth $17,365,000 after buying an additional 150,513 shares during the last quarter. Finally, abrdn plc bought a new position in Camtek during the third quarter worth $11,387,000. Institutional investors own 41.93% of the company’s stock.

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.