For Camtek Ltd. [CAMT], Analyst sees a rise to $24. What next?

Camtek Ltd. [NASDAQ: CAMT] gained 7.11% or 1.26 points to close at $18.99 with a heavy trading volume of 1971046 shares. The company report on November 19, 2020 that Camtek Announces Pricing of Upsized Public Offering of Ordinary Shares.

Camtek Ltd. (NASDAQ: CAMT) (TASE: CAMT), a leading manufacturer of metrology and inspection equipment, announced today the pricing of an underwritten public offering of 3,500,000 ordinary shares at a price to the public of $17.00 per share. The offering was upsized from the previously announced public offering of 3,000,000 ordinary shares. In addition, Camtek has granted the underwriters a 30-day option to purchase up to an additional 525,000 ordinary shares, at the public offering price less underwriting discounts and commissions. The offering is expected to close on or about November 23, 2020, subject to customary closing conditions.

Camtek intends to use the net proceeds from the offering for general corporate purposes, including, but not limited to, potential acquisitions, working capital, capital expenditures, investments, research and development and product development. Camtek has not determined the amount of net proceeds to be used specifically for the foregoing purposes and has no agreements or understandings with respect to any acquisition or investment at this time.

It opened the trading session at $18.50, the shares rose to $19.36 and dropped to $18.26, the range by which the price of stock traded the whole day. The daily chart for CAMT points out that the company has recorded 47.21% gains over the past six months. However, it is still -203.35% lower than its most recent low trading price.

If we look at the average trading volume of 114.46K shares, CAMT reached to a volume of 1971046 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Camtek Ltd. [CAMT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CAMT shares is $21.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CAMT stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

B. Riley Securities have made an estimate for Camtek Ltd. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 28, 2020. While these analysts kept the previous recommendation, Needham raised their target price to Buy. The new note on the price target was released on February 19, 2020, representing the official price target for Camtek Ltd. stock. Previously, the target price had yet another raise to $10, while Northland Capital analysts kept a Outperform rating on CAMT stock. On February 08, 2018, analysts increased their price target for CAMT shares from 7 to 8.

The Average True Range (ATR) for Camtek Ltd. is set at 1.02, with the Price to Sales ratio for CAMT stock in the period of the last 12 months amounting to 5.02. The Price to Book ratio for the last quarter was 4.83, with the Price to Cash per share for the same quarter was set at 2.86.

Trading performance analysis for CAMT stock

Camtek Ltd. [CAMT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.26. With this latest performance, CAMT shares gained by 3.49% in over the last four-week period, additionally plugging by 47.21% over the last 6 months – not to mention a rise of 85.63% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CAMT stock in for the last two-week period is set at 54.04, with the RSI for the last a single of trading hit 51.76, and the three-weeks RSI is set at 53.99 for Camtek Ltd. [CAMT]. The present Moving Average for the last 50 days of trading for this stock 17.62, while it was recorded at 19.21 for the last single week of trading, and 13.48 for the last 200 days.

Camtek Ltd. [CAMT]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Camtek Ltd. [CAMT] shares currently have an operating margin of +16.39 and a Gross Margin at +48.34. Camtek Ltd.’s Net Margin is presently recorded at +15.54.

Return on Total Capital for CAMT is now 18.36, given the latest momentum, and Return on Invested Capital for the company is 17.46. Return on Equity for this stock inclined to 17.52, with Return on Assets sitting at 13.28. When it comes to the capital structure of this company, Camtek Ltd. [CAMT] has a Total Debt to Total Equity ratio set at 1.18. Additionally, CAMT Total Debt to Total Capital is recorded at 1.16, with Total Debt to Total Assets ending up at 0.93. Long-Term Debt to Equity for the company is recorded at 0.57, with the Long-Term Debt to Total Capital now at 0.56.

Reflecting on the efficiency of the workforce at the company, Camtek Ltd. [CAMT] managed to generate an average of $64,668 per employee. Receivables Turnover for the company is 3.98 with a Total Asset Turnover recorded at a value of 0.85.Camtek Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.20 and a Current Ratio set at 4.00.

Camtek Ltd. [CAMT]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Camtek Ltd. posted 0.14/share EPS, while the average EPS was predicted by analysts to be reported at 0.13/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 7.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CAMT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Camtek Ltd. go to 15.00%.

An analysis of insider ownership at Camtek Ltd. [CAMT]

There are presently around $208 million, or 32.30% of CAMT stock, in the hands of institutional investors. The top three institutional holders of CAMT stocks are: FEDERATED HERMES, INC. with ownership of 2,230,000, which is approximately 0% of the company’s market cap and around 62.70% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 1,830,800 shares of the stock with an approximate value of $34.77 million in CAMT stocks shares; and MIGDAL INSURANCE & FINANCIAL HOLDINGS LTD., currently with $26.29 million in CAMT stock with ownership of nearly 36.266% of the company’s market capitalization.

Positions in Camtek Ltd. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 19 institutional holders increased their position in Camtek Ltd. [NASDAQ:CAMT] by around 720,236 shares. Additionally, 30 investors decreased positions by around 987,710 shares, while 9 investors held positions by with 9,257,166 shares. The mentioned changes placed institutional holdings at 10,965,112 shares, according to the latest SEC report filing. CAMT stock had 7 new institutional investments in for a total of 186,425 shares, while 7 institutional investors sold positions of 125,330 shares during the same period.

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