Camtek Ltd. (NASDAQ:CAMT) Sees Significant Increase in Short Interest

Camtek Ltd. (NASDAQ:CAMT) saw a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 2,940,000 shares, a growth of 6.5% from the May 31st total of 2,760,000 shares. Based on an average daily volume of 439,400 shares, the short-interest ratio is presently 6.7 days. Currently, 10.6% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC acquired a new position in shares of Camtek during the 1st quarter worth $55,026,000. TT International Asset Management LTD acquired a new position in Camtek in the 4th quarter valued at approximately $13,105,000. Lazard Asset Management LLC bought a new position in shares of Camtek during the third quarter valued at $11,483,000. Zweig DiMenna Associates LLC acquired a new position in shares of Camtek during the first quarter worth $13,964,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Camtek in the fourth quarter worth $10,704,000. 41.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CAMT has been the topic of a number of research analyst reports. Jefferies Financial Group began coverage on shares of Camtek in a report on Monday, May 13th. They issued a “buy” rating and a $120.00 target price on the stock. Evercore ISI initiated coverage on Camtek in a report on Tuesday, April 16th. They set an “outperform” rating and a $100.00 target price on the stock. Needham & Company LLC increased their price target on Camtek from $106.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, June 7th. B. Riley lifted their price objective on shares of Camtek from $110.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Finally, Bank of America increased their price objective on shares of Camtek from $98.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $103.63.

Camtek Stock Down 0.4 %

CAMT opened at $127.33 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 3.08 and a current ratio of 3.66. The stock has a fifty day moving average of $102.84 and a 200-day moving average of $86.44. Camtek has a fifty-two week low of $32.86 and a fifty-two week high of $130.54. The company has a market capitalization of $5.72 billion, a P/E ratio of 71.94, a P/E/G ratio of 2.69 and a beta of 1.41.

Camtek (NASDAQ:CAMT) last issued its quarterly earnings data on Thursday, May 9th. The semiconductor company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.07. Camtek had a net margin of 25.35% and a return on equity of 20.94%. The business had revenue of $97.01 million during the quarter, compared to analysts’ expectations of $93.75 million. On average, equities analysts expect that Camtek will post 2.35 EPS for the current year.

About Camtek

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.