Camtek (NASDAQ:CAMT) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Camtek (NASDAQ:CAMT) issued its quarterly earnings data on Thursday. The semiconductor company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.02, Briefing.com reports. The firm had revenue of $102.60 million during the quarter, compared to the consensus estimate of $101.26 million. Camtek had a net margin of 25.93% and a return on equity of 22.79%. The business’s revenue for the quarter was up 39.4% compared to the same quarter last year. During the same period last year, the business posted $0.38 earnings per share. Camtek updated its Q3 2024 guidance to EPS.

Camtek Price Performance

CAMT stock traded down $7.93 during trading on Friday, reaching $84.09. 1,489,574 shares of the company were exchanged, compared to its average volume of 902,036. Camtek has a twelve month low of $44.08 and a twelve month high of $140.50. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.66 and a quick ratio of 3.08. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of 47.51, a P/E/G ratio of 1.98 and a beta of 1.41. The company has a 50-day moving average of $114.78 and a two-hundred day moving average of $93.96.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CAMT shares. B. Riley lowered their price objective on Camtek from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday. Northland Securities cut shares of Camtek from an “outperform” rating to a “market perform” rating in a report on Thursday, May 16th. Northland Capmk cut Camtek from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 16th. Evercore ISI started coverage on Camtek in a report on Tuesday, April 16th. They issued an “outperform” rating and a $100.00 price objective for the company. Finally, Barclays increased their target price on Camtek from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, May 10th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.29.

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.