The Manufacturers Life Insurance Company reduced its stake in shares of Camtek Ltd. (NASDAQ:CAMT – Free Report) by 96.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,650 shares of the semiconductor company’s stock after selling 289,106 shares during the period. The Manufacturers Life Insurance Company’s holdings in Camtek were worth $1,334,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in CAMT. Headlands Technologies LLC acquired a new position in shares of Camtek during the 1st quarter worth approximately $50,000. Russell Investments Group Ltd. lifted its holdings in Camtek by 524.6% in the first quarter. Russell Investments Group Ltd. now owns 1,474 shares of the semiconductor company’s stock valued at $123,000 after acquiring an additional 1,238 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Camtek by 17.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,280 shares of the semiconductor company’s stock valued at $158,000 after acquiring an additional 340 shares during the last quarter. Central Asset Investments & Management Holdings HK Ltd acquired a new position in Camtek in the second quarter valued at approximately $250,000. Finally, Blue Trust Inc. lifted its holdings in Camtek by 4.1% in the second quarter. Blue Trust Inc. now owns 2,721 shares of the semiconductor company’s stock valued at $341,000 after acquiring an additional 108 shares during the last quarter. 41.93% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the company. Northland Securities upgraded Camtek from a “market perform” rating to an “outperform” rating and set a $99.00 price objective on the stock in a report on Monday, August 5th. Northland Capmk upgraded Camtek from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Needham & Company LLC reiterated a “buy” rating and issued a $140.00 price objective on shares of Camtek in a report on Friday, August 2nd. Finally, B. Riley decreased their price objective on Camtek from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $116.57.
Camtek Stock Up 6.2 %
NASDAQ:CAMT opened at $84.16 on Friday. The company has a quick ratio of 4.29, a current ratio of 5.21 and a debt-to-equity ratio of 0.42. The stock’s fifty day moving average is $85.08 and its two-hundred day moving average is $95.59. Camtek Ltd. has a 52 week low of $48.50 and a 52 week high of $140.50. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of 42.94, a price-to-earnings-growth ratio of 1.55 and a beta of 1.38.
Camtek (NASDAQ:CAMT – Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The business had revenue of $102.60 million for the quarter, compared to analyst estimates of $101.26 million. Camtek had a return on equity of 22.57% and a net margin of 25.93%. The company’s revenue was up 39.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 earnings per share. Research analysts anticipate that Camtek Ltd. will post 2.45 EPS for the current year.
Camtek 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.
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