Zacks Investment Research Downgrades Camtek (CAMT) to Hold

Camtek (NASDAQ:CAMT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.

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. “

A number of other research firms have also weighed in on CAMT. ValuEngine lowered Camtek from a “buy” rating to a “hold” rating in a report on Wednesday, June 6th. BidaskClub raised Camtek from a “buy” rating to a “strong-buy” rating in a report on Friday, May 11th. Finally, Northland Securities assumed coverage on Camtek in a report on Monday, April 9th. They set an “outperform” rating and a $10.00 target price for the company. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Camtek has an average rating of “Buy” and an average price target of $8.50.

Camtek traded down $0.20, reaching $8.12, during mid-day trading on Thursday, MarketBeat reports. 115,700 shares of the company traded hands, compared to its average volume of 123,967. The firm has a market capitalization of $309.26 million, a PE ratio of 31.23 and a beta of 1.15. Camtek has a 52-week low of $4.17 and a 52-week high of $8.74.

Camtek (NASDAQ:CAMT) last posted its earnings results on Wednesday, May 2nd. The semiconductor company reported $0.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.01. The business had revenue of $27.30 million during the quarter, compared to analyst estimates of $26.60 million. Camtek had a return on equity of 16.69% and a net margin of 14.25%. The company’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.04 EPS. sell-side analysts expect that Camtek will post 0.49 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of CAMT. Meitav Dash Investments Ltd. purchased a new position in shares of Camtek during the fourth quarter worth about $2,041,000. Renaissance Technologies LLC grew its holdings in shares of Camtek by 8.0% during the fourth quarter. Renaissance Technologies LLC now owns 1,213,960 shares of the semiconductor company’s stock worth $6,944,000 after purchasing an additional 90,260 shares in the last quarter. Deutsche Bank AG purchased a new position in shares of Camtek during the fourth quarter worth about $485,000. Two Sigma Investments LP purchased a new position in shares of Camtek during the fourth quarter worth about $388,000. Finally, ARK Investment Management LLC purchased a new position in shares of Camtek during the fourth quarter worth about $259,000. 20.71% of the stock is owned by institutional investors.

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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