Short Interest in Camtek Ltd. (NASDAQ:CAMT) Drops By 5.1%

by · The Markets Daily

Camtek Ltd. (NASDAQ:CAMT – Get Free Report) was the recipient of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 2,810,000 shares, a decrease of 5.1% from the August 15th total of 2,960,000 shares. Currently, 10.1% of the company’s shares are short sold. Based on an average daily trading volume, of 699,400 shares, the days-to-cover ratio is presently 4.0 days.

Camtek Trading Up 6.5 %

Shares of CAMT stock opened at $76.13 on Friday. Camtek has a fifty-two week low of $48.50 and a fifty-two week high of $140.50. The firm’s 50 day moving average price is $94.48 and its two-hundred day moving average price is $95.65. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 43.01, a price-to-earnings-growth ratio of 1.64 and a beta of 1.39. The company has a quick ratio of 4.29, a current ratio of 5.21 and a debt-to-equity ratio of 0.42.

Camtek (NASDAQ:CAMT – Get Free Report) last announced its quarterly earnings results 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. Camtek had a net margin of 25.93% and a return on equity of 22.57%. The firm had revenue of $102.60 million during the quarter, compared to analysts’ expectations of $101.26 million. During the same period in the prior year, the company earned $0.38 EPS. The firm’s revenue was up 39.4% on a year-over-year basis. On average, analysts anticipate that Camtek will post 2.45 EPS for the current year.

Hedge Funds Weigh In On Camtek

Several hedge funds and other institutional investors have recently bought and sold shares of CAMT. Headlands Technologies LLC acquired a new stake in Camtek in the first quarter valued at approximately $50,000. Northwestern Mutual Wealth Management Co. grew its holdings in Camtek by 23,300.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 468 shares of the semiconductor company’s stock valued at $59,000 after purchasing an additional 466 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Camtek by 524.6% during the 1st quarter. Russell Investments Group Ltd. now owns 1,474 shares of the semiconductor company’s stock worth $123,000 after buying an additional 1,238 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Camtek by 17.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,280 shares of the semiconductor company’s stock worth $158,000 after buying an additional 340 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in Camtek in the 4th quarter worth $214,000. 41.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Northland Capmk raised Camtek from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. B. Riley lowered their target price on shares of Camtek from $150.00 to $140.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price target on shares of Camtek in a research report on Friday, August 2nd. Finally, Northland Securities upgraded shares of Camtek from a “market perform” rating to an “outperform” rating and set a $99.00 price target on the stock in a report on Monday, August 5th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $116.57.

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Camtek Company Profile

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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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