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

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

CAMT has been the subject of several other research reports. Northland Securities reissued a buy rating and set a $16.00 price target on shares of Camtek in a report on Friday, June 21st. BidaskClub raised Camtek from a sell rating to a hold rating in a report on Tuesday, July 23rd. Finally, ValuEngine lowered Camtek from a buy rating to a hold rating in a report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Camtek presently has an average rating of Hold and an average target price of $12.17.

NASDAQ:CAMT opened at $8.64 on Friday. The firm’s 50-day moving average is $8.82. Camtek has a 52-week low of $6.29 and a 52-week high of $11.25. The company has a market capitalization of $315.71 million, a price-to-earnings ratio of 16.62 and a beta of 1.57.

Camtek (NASDAQ:CAMT) last released its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.02). Camtek had a net margin of 18.00% and a return on equity of 21.06%. The company had revenue of $34.35 million for the quarter, compared to the consensus estimate of $34.25 million. During the same period in the prior year, the firm posted $0.13 EPS. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, research analysts forecast that Camtek will post 0.58 EPS for the current year.

The firm also recently disclosed an annual dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st will be given a $0.17 dividend. This represents a dividend yield of 1.9%. This is an increase from Camtek’s previous annual dividend of $0.14. The ex-dividend date is Tuesday, August 20th.

Several institutional investors have recently made changes to their positions in the company. State of New Jersey Common Pension Fund D lifted its position in shares of Camtek by 40.0% in the second quarter. State of New Jersey Common Pension Fund D now owns 23,278 shares of the semiconductor company’s stock valued at $197,000 after acquiring an additional 6,654 shares in the last quarter. Sigma Planning Corp purchased a new position in shares of Camtek in the first quarter valued at about $117,000. GAM Holding AG lifted its position in shares of Camtek by 45.6% in the second quarter. GAM Holding AG now owns 63,702 shares of the semiconductor company’s stock valued at $538,000 after acquiring an additional 19,965 shares in the last quarter. D. E. Shaw & Co. Inc. purchased a new position in shares of Camtek in the fourth quarter valued at about $151,000. Finally, Campbell & CO Investment Adviser LLC lifted its position in shares of Camtek by 76.8% in the first quarter. Campbell & CO Investment Adviser LLC now owns 55,730 shares of the semiconductor company’s stock valued at $497,000 after acquiring an additional 24,202 shares in the last quarter. Institutional investors and hedge funds own 26.80% of the company’s stock.

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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