Camtek (CAMT) Downgraded by Zacks Investment Research

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Camtek (NASDAQ:CAMT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, 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. “

Other equities analysts have also recently issued reports about the stock. BidaskClub cut shares of Camtek from a “hold” rating to a “sell” rating in a report on Wednesday. ValuEngine cut shares of Camtek from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th.

CAMT stock traded down $0.15 during midday trading on Wednesday, reaching $8.39. 113,700 shares of the company were exchanged, compared to its average volume of 203,478. Camtek has a 1-year low of $6.29 and a 1-year high of $11.25. The stock has a market cap of $311.20 million, a P/E ratio of 16.13 and a beta of 1.43.

Camtek (NASDAQ:CAMT) last announced its earnings results on Monday, May 6th. The semiconductor company reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. The business had revenue of $34.00 million for the quarter, compared to analysts’ expectations of $34.00 million. Camtek had a net margin of 16.34% and a return on equity of 21.60%. The company’s quarterly revenue was up 24.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.12 EPS. On average, equities analysts predict that Camtek will post 0.7 EPS for the current year.

Large investors have recently bought and sold shares of the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new position in Camtek in the 4th quarter valued at $104,000. Commonwealth Equity Services LLC purchased a new position in Camtek in the 1st quarter valued at $105,000. Sigma Planning Corp purchased a new position in Camtek in the 1st quarter valued at $117,000. Virtu Financial LLC purchased a new position in Camtek in the 4th quarter valued at $129,000. Finally, D. E. Shaw & Co. Inc. purchased a new position in Camtek in the 4th quarter valued at $151,000. Hedge funds and other institutional investors own 24.33% 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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