Camtek (NASDAQ:CAMT) Hits New 52-Week High Following Analyst Upgrade

Shares of Camtek Ltd. (NASDAQ:CAMT) reached a new 52-week high during trading on Tuesday after Needham & Company LLC raised their price target on the stock from $125.00 to $135.00. Needham & Company LLC currently has a buy rating on the stock. Camtek traded as high as $134.29 and last traded at $133.2490, with a volume of 177548 shares. The stock had previously closed at $123.88.

Other equities analysts also recently issued research reports about the stock. B. Riley increased their price objective on shares of Camtek from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, October 10th. Morgan Stanley began coverage on shares of Camtek in a report on Monday, December 1st. They set an “equal weight” rating and a $110.00 price target for the company. Jefferies Financial Group raised their price objective on Camtek from $130.00 to $140.00 and gave the company a “buy” rating in a report on Monday, December 15th. The Goldman Sachs Group initiated coverage on Camtek in a research report on Monday, December 15th. They set a “neutral” rating and a $123.00 price objective on the stock. Finally, Stifel Nicolaus upped their target price on Camtek from $98.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, October 13th. Eight research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $126.08.

Institutional Trading of Camtek

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC bought a new position in Camtek during the 3rd quarter worth approximately $32,000. Advisors Asset Management Inc. increased its position in shares of Camtek by 61.6% during the first quarter. Advisors Asset Management Inc. now owns 769 shares of the semiconductor company’s stock worth $45,000 after buying an additional 293 shares during the period. Rothschild Investment LLC bought a new position in Camtek during the third quarter worth $54,000. Optimum Investment Advisors lifted its holdings in Camtek by 60.0% in the second quarter. Optimum Investment Advisors now owns 1,200 shares of the semiconductor company’s stock valued at $101,000 after buying an additional 450 shares during the period. Finally, NewEdge Advisors LLC acquired a new position in Camtek in the third quarter valued at $205,000. Institutional investors and hedge funds own 41.93% of the company’s stock.

Camtek Stock Up 7.6%

The company has a quick ratio of 6.52, a current ratio of 7.58 and a debt-to-equity ratio of 0.90. The stock’s 50-day simple moving average is $110.63 and its 200 day simple moving average is $100.65. The firm has a market cap of $6.08 billion, a P/E ratio of 148.12, a PEG ratio of 2.67 and a beta of 1.55.

Camtek Company Profile

Camtek Ltd. (NASDAQ: CAMT) is a provider of automated inspection and metrology solutions for the semiconductor and printed circuit board (PCB) industries. The company develops, manufactures and markets a suite of inline and stand-alone systems that perform high‐resolution 2D and 3D measurements, defect review and process control. Its products are used by integrated device manufacturers, foundries, OSAT (outsourced semiconductor assembly and test) providers, and PCB fabricators to optimize yield, improve product quality and reduce production costs.

Camtek’s core offerings include wafer inspection systems that detect and classify defects on patterned wafers, patterned wafer metrology tools for overlay and critical dimension measurements, and advanced packaging inspection platforms for 3D ICs and fan-out wafer-level packaging.