Migdal Makefet Pension & Providen recently announced the acquisition of new stake in Camtek Ltd. (NASDAQ:CAMT). The institutional investor has increased its shareholding in the Technology company by 0.84% to 1.77 million shares with purchase of 14740.0 shares. This fresh investment now brings its stake to 4.00% valued currently at $38.93 million. In addition, Migdal Insurance Co. Ltd. raised its holdings by 57600.0 to 1.53 million shares. And Migdal Mutual Funds Ltd. has lifted its position by 2.68% or 19637.0 shares – to 0.75 million shares.
With over 0.17 million Camtek Ltd. (CAMT) shares trading Monday and a closing price of $27.68 on the day, the dollar volume was approximately $4.62 million. The shares have shown a negative half year performance of -5.98% and its price on 01/23/23 gained nearly 3.36%. Currently, there are 44.37M common shares owned by the public and among those 26.89M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for CAMT have a consensus price objective of $31.67. The analysts have set the share’s price value over the next 12 months at a high of $40.00 and a low of $25.00. The average price target is 10.71% above its recent price level and a downside to the estimated low will see the stock lose -10.72% over that period. But an upside of 30.8% will see the stock hit the forecast high price target while median target price for the stock is $31.50.
The top 3 mutual fund holders in Camtek Ltd. are Federated Hermes Kaufmann Small C, KSM ETF, and Vanguard Total International Stoc. Federated Hermes Kaufmann Small C owns 1.55 million shares of the company’s stock, all valued at over $34.04 million. Vanguard Total International Stoc bought 2118.0 shares to bring its total holdings to over 0.35 million shares at a value of $7.74 million. Vanguard Total International Stoc now owns shares totaling to 0.79% of the shares outstanding.
Shares of Camtek Ltd. (NASDAQ: CAMT) opened at $27.71, up $0.93 from a prior closing price of $26.78. However, the script later moved the day high at 27.91, up 3.36%. The company’s stock has a 5-day price change of 11.61% and 20.72% over the past three months. CAMT shares are trading 26.05% year to date (YTD), with the 12-month market performance down to -28.60% lower. It has a 12-month low price of $20.83 and touched a high of $38.95 over the same period. CAMT has an average intraday trading volume of 141.66K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 17.53%, 17.54%, and 6.14% respectively.
Institutional ownership of Camtek Ltd. (NASDAQ: CAMT) shares accounts for 28.20% of the company’s 44.37M shares outstanding. Mutual fund holders own 17.97%, while other institutional holders and individual stakeholders account for 18.76% and — respectively.
It has a market capitalization of $1.18B and a beta (3y monthly) value of 1.45. The stock’s trailing 12-month PE ratio is 18.64, while the earnings-per-share (ttm) stands at $1.49. The company has a PEG of 3.11 and a Quick Ratio of 5.90 with the debt-to-equity ratio at 0.54. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.12% over the week and 3.13% over the month.
Analysts forecast that Camtek Ltd. (CAMT) will achieve an EPS of $0.46 for the current quarter, $0.47 for the next quarter and $1.89 for 2023. The lowest estimate earnings-per-share for the quarter is $0.46 while analysts give the company a high EPS estimate of $0.46. Comparatively, EPS for the current quarter was $0.45 a year ago. Earnings per share for the fiscal year are expected to increase by 148.10%, and -15.72% over the next financial year. EPS should shrink at an annualized rate of 6.00% over the next five years, compared to 122.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Camtek Ltd. (CAMT) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 3 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CAMT, a number of firms have released research notes about the stock. Barclays stated their Equal Weight rating for the stock in a research note on July 25, 2022, with the firm’s price target at $40-$32. B. Riley Securities coverage for the Camtek Ltd. (CAMT) stock in a research note released on June 15, 2022 offered a Neutral rating with a price target of $29. BofA Securities was of a view on January 25, 2022 that the stock is Buy, while Stifel gave the stock Buy rating on January 14, 2022, issuing a price target of $47. Barclays on their part issued Overweight rating on June 09, 2021.
