Camtek (NASDAQ:CAMT) Cut to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Camtek (NASDAQ:CAMT) from a buy rating to a hold rating in a report published on Wednesday, 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. “

Other analysts have also issued reports about the company. Northland Securities restated a buy rating and issued a $15.00 target price on shares of Camtek in a research note on Monday, May 11th. BidaskClub raised Camtek from a buy rating to a strong-buy rating in a research note on Saturday, July 25th. Needham & Company LLC upped their price target on Camtek from $15.00 to $18.00 and gave the company a buy rating in a research note on Thursday, August 6th. Finally, B. Riley boosted their price objective on Camtek from $13.00 to $15.00 and gave the stock a buy rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $16.25.

Camtek stock traded up $0.11 during midday trading on Wednesday, hitting $16.23. 3,441 shares of the company’s stock were exchanged, compared to its average volume of 130,267. Camtek has a 12-month low of $6.26 and a 12-month high of $16.76. The firm’s 50 day simple moving average is $13.94 and its 200 day simple moving average is $11.62. The stock has a market cap of $595.93 million, a price-to-earnings ratio of 37.74 and a beta of 1.79.

Camtek (NASDAQ:CAMT) last announced its earnings results on Wednesday, August 5th. The semiconductor company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. Camtek had a net margin of 12.69% and a return on equity of 12.23%. Research analysts anticipate that Camtek will post 0.53 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE bought a new stake in Camtek in the fourth quarter valued at about $25,000. Advisor Group Holdings Inc. bought a new stake in shares of Camtek in the 1st quarter valued at about $29,000. Optimum Investment Advisors raised its position in shares of Camtek by 516.7% in the 2nd quarter. Optimum Investment Advisors now owns 7,400 shares of the semiconductor company’s stock valued at $93,000 after acquiring an additional 6,200 shares during the period. UBS Group AG boosted its stake in Camtek by 7.2% during the 2nd quarter. UBS Group AG now owns 11,228 shares of the semiconductor company’s stock worth $141,000 after acquiring an additional 755 shares during the last quarter. Finally, Algert Global LLC acquired a new position in Camtek during the second quarter valued at approximately $148,000. 28.57% of the stock is owned by institutional investors and hedge funds.

Camtek Company Profile

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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