Shares of Camtek Ltd. (NASDAQ: CAMT) have been downgraded from a “hold” to a “sell” rating by Wall Street Zen, as noted in a research report released on the morning of October 14, 2023. This marks a significant shift in sentiment towards the semiconductor company, which has recently attracted attention from multiple financial analysts.
In a series of evaluations, several investment firms have weighed in on Camtek’s stock. On December 15, 2023, the Goldman Sachs Group initiated coverage with a “neutral” rating and established a price target of $123.00. The following day, Cantor Fitzgerald reaffirmed a “neutral” rating, setting their target price at $120.00. B. Riley, on the other hand, raised their price target from $120.00 to $145.00 while assigning a “buy” rating, reflecting a more optimistic outlook.
Bank of America also upgraded their stance on Camtek, moving from a “neutral” to a “buy” rating, and increasing the price objective from $95.00 to $135.00 on October 13, 2023. Additionally, Jefferies Financial Group adjusted their target price from $130.00 to $140.00, maintaining a “buy” rating. Overall, nine analysts have issued a “buy” rating for Camtek, while five have opted for a “hold” rating. According to MarketBeat.com, the company currently holds an average rating of “Moderate Buy” with a price target of $123.00.
Institutional Investments in Camtek
Recent changes in institutional ownership have also impacted Camtek. Notably, ARK Investment Management LLC increased its stake by 38.2% during the second quarter of 2023, acquiring an additional 7,566 shares, bringing its total to 27,386 shares valued at approximately $2.3 million. Jefferies Financial Group Inc. entered a new position during the same quarter, valued at around $338,000.
Legal & General Group Plc boosted its holdings by 18.9%, now owning 117,163 shares worth approximately $10.1 million. Taylor Frigon Capital Management LLC also raised its stake by 18.2%, accumulating 32,518 shares valued at $2.75 million. Y.D. More Investments Ltd. increased its position by 22.5%, with a total of 644,657 shares now valued at around $55.4 million. Currently, institutional investors and hedge funds collectively own 41.93% of Camtek’s stock.
About Camtek
Camtek Ltd. specializes in developing automated inspection and metrology solutions tailored for the semiconductor and printed circuit board (PCB) industries. The company offers a range of systems designed for high-resolution two-dimensional and three-dimensional measurements, defect review, and process control. Their products are utilized by integrated device manufacturers, foundries, outsourced semiconductor assembly and test (OSAT) providers, and PCB fabricators to enhance yield, improve product quality, and reduce production costs.
Camtek’s core offerings include wafer inspection systems for detecting and classifying defects, metrology tools for overlay and critical dimension measurements, and advanced packaging inspection platforms for three-dimensional integrated circuits and fan-out wafer-level packaging.
As investors and analysts continue to monitor Camtek’s performance closely, the recent downgrades and upgrades reflect the dynamic nature of the semiconductor market and its associated challenges and opportunities.
