Camtek (NASDAQ:CAMT) Price Target Raised to $70.00

Camtek (NASDAQ:CAMT) had its price target lifted by Needham & Company LLC from $64.00 to $70.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price objective points to a potential upside of 23.39% from the stock’s current price.

A number of other brokerages have also recently issued reports on CAMT. B. Riley upped their target price on Camtek from $45.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, August 1st. Stifel Nicolaus raised their price objective on shares of Camtek from $52.00 to $62.00 in a report on Tuesday, August 29th. Bank of America boosted their target price on shares of Camtek from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. Northland Securities raised their price target on shares of Camtek from $37.00 to $55.00 and gave the company an “outperform” rating in a research note on Tuesday, August 1st. Finally, Barclays boosted their price objective on shares of Camtek from $46.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $56.86.

Camtek Trading Up 1.0 %

Shares of Camtek stock opened at $56.73 on Tuesday. The firm’s 50 day moving average is $49.44 and its 200 day moving average is $36.03. The firm has a market capitalization of $2.53 billion, a PE ratio of 35.02, a price-to-earnings-growth ratio of 3.03 and a beta of 1.44. Camtek has a 1 year low of $20.83 and a 1 year high of $61.48. The company has a current ratio of 7.64, a quick ratio of 6.84 and a debt-to-equity ratio of 0.46.

Camtek (NASDAQ:CAMT) last issued its earnings results on Monday, July 31st. The semiconductor company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. The firm had revenue of $73.60 million for the quarter, compared to analyst estimates of $72.33 million. Camtek had a net margin of 25.19% and a return on equity of 19.85%. The company’s quarterly revenue was down 7.5% on a year-over-year basis. During the same quarter last year, the business posted $0.40 earnings per share. Equities research analysts forecast that Camtek will post 1.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Camtek

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC acquired a new position in Camtek during the 2nd quarter worth approximately $38,000. Sunbelt Securities Inc. bought a new stake in Camtek during the 1st quarter valued at $62,000. FMR LLC raised its holdings in Camtek by 116.1% during the second quarter. FMR LLC now owns 3,032 shares of the semiconductor company’s stock worth $76,000 after buying an additional 1,629 shares during the last quarter. Deutsche Bank AG bought a new position in shares of Camtek in the fourth quarter valued at $93,000. Finally, Bank of America Corp DE grew its holdings in shares of Camtek by 66.8% during the fourth quarter. Bank of America Corp DE now owns 4,967 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 1,990 shares during the last quarter. Institutional investors own 30.02% of the company’s stock.

Camtek Company Profile

Camtek Ltd., together with its subsidiaries, develops, manufactures, and sells inspection and metrology equipment for the advanced interconnect packaging, memory, complementary metal oxide semiconductor image sensors, micro-electro mechanical systems, radio frequency, and other segments of the semiconductor industry.