Renaissance Technologies LLC Decreases Stock Holdings in Camtek Ltd. (NASDAQ:CAMT)

Renaissance Technologies LLC lessened its stake in shares of Camtek Ltd. (NASDAQ:CAMT) by 26.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 327,540 shares of the semiconductor company’s stock after selling 118,700 shares during the quarter. Renaissance Technologies LLC owned about 0.73% of Camtek worth $41,021,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Lord Abbett & CO. LLC bought a new stake in Camtek in the 1st quarter worth approximately $55,026,000. Y.D. More Investments Ltd grew its holdings in shares of Camtek by 723.7% in the second quarter. Y.D. More Investments Ltd now owns 626,973 shares of the semiconductor company’s stock worth $78,709,000 after acquiring an additional 550,854 shares during the period. Zweig DiMenna Associates LLC purchased a new stake in Camtek during the first quarter valued at $13,964,000. Quadrature Capital Ltd bought a new position in Camtek in the fourth quarter valued at about $10,704,000. Finally, Westfield Capital Management Co. LP lifted its holdings in Camtek by 46.6% in the fourth quarter. Westfield Capital Management Co. LP now owns 284,845 shares of the semiconductor company’s stock valued at $19,763,000 after acquiring an additional 90,608 shares during the period. 41.93% of the stock is currently owned by institutional investors.

Camtek Stock Performance

NASDAQ CAMT opened at $71.51 on Thursday. 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 Ltd. has a twelve month low of $48.50 and a twelve month high of $140.50. The business has a 50-day moving average price of $95.55 and a 200-day moving average price of $95.79. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of 40.40, a price-to-earnings-growth ratio of 1.64 and a beta of 1.39.

Camtek (NASDAQ:CAMT) last announced its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $0.66 earnings per share (EPS) for the quarter, beating 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 business had revenue of $102.60 million during the quarter, compared to analyst estimates of $101.26 million. During the same period last year, the firm posted $0.38 EPS. The company’s revenue was up 39.4% on a year-over-year basis. As a group, equities research analysts predict that Camtek Ltd. will post 2.45 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Northland Securities raised shares of Camtek from a “market perform” rating to an “outperform” rating and set a $99.00 price target for the company in a research report on Monday, August 5th. Needham & Company LLC reiterated a “buy” rating and set a $140.00 price target on shares of Camtek in a research note on Friday, August 2nd. B. Riley cut their price objective on shares of Camtek from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Bank of America raised their target price on Camtek from $98.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Finally, Northland Capmk raised Camtek from a “hold” rating to a “strong-buy” rating 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 stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $116.57.

Camtek Company Profile

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.