Camtek (NASDAQ:CAMT) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Camtek (NASDAQ:CAMT) from a hold rating to a sell rating in a report released on Monday, Zacks.com reports.

According to Zacks, “Camtek Ltd., designs, develops, manufactures, and markets automatic optical inspection systems and related products. Camtek’s automatic inspection systems are used to enhance both production processes and yield for manufacturers in the printed circuit board industry, the high density interconnect substrate industry and the semiconductor manufacturing and packaging industry. “

Separately, BidaskClub raised Camtek from a buy rating to a strong-buy rating in a report on Saturday.

CAMT stock opened at $10.35 on Monday. Camtek has a 12-month low of $6.29 and a 12-month high of $11.36. The company has a 50 day moving average of $10.45 and a two-hundred day moving average of $9.30. The company has a market cap of $385.55 million, a price-to-earnings ratio of 17.88 and a beta of 1.63.

Camtek (NASDAQ:CAMT) last announced its earnings results on Thursday, November 7th. The semiconductor company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.02). The firm had revenue of $32.47 million during the quarter, compared to the consensus estimate of $32.00 million. Camtek had a return on equity of 18.73% and a net margin of 17.28%. The business’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business earned $0.16 EPS. As a group, analysts expect that Camtek will post 0.54 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC increased its holdings in Camtek by 5.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,933,465 shares of the semiconductor company’s stock valued at $16,338,000 after buying an additional 105,365 shares during the period. Acadian Asset Management LLC lifted its position in shares of Camtek by 20.6% during the 2nd quarter. Acadian Asset Management LLC now owns 1,040,398 shares of the semiconductor company’s stock worth $8,794,000 after buying an additional 177,765 shares during the period. Morgan Stanley boosted its stake in Camtek by 2,267.8% in the 2nd quarter. Morgan Stanley now owns 185,895 shares of the semiconductor company’s stock valued at $1,571,000 after buying an additional 178,044 shares in the last quarter. Marshall Wace LLP grew its position in Camtek by 246.2% in the second quarter. Marshall Wace LLP now owns 144,386 shares of the semiconductor company’s stock valued at $1,033,000 after acquiring an additional 102,680 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Camtek by 29.0% during the second quarter. JPMorgan Chase & Co. now owns 133,405 shares of the semiconductor company’s stock worth $1,125,000 after acquiring an additional 29,968 shares in the last quarter. 29.26% of the stock is currently owned by hedge funds and other institutional investors.

About Camtek

Camtek Ltd. provides inspection and metrology solutions for the semiconductor industry in the Asia Pacific, North America, and Europe. The company provides solutions based on its advanced image processing, motion control, material handling, and optics related technologies. It designs, develops, manufactures, and markets automatic optical inspection (AOI) systems that optically inspect and measure various types of semiconductors wafers.

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