Hello I will help you with your question,
The cam and crank sensors use each other to determine who is failing but they are not too smart. Often you will get a P0340 code (cam sensor) when it is the crank sensor that is failing and the other way around when the cam sensor fails.
As long as the timing belt has been replaced in the last 30,000 mile I would be replacing th cam sensor. If the belt has not been replaced then it is entirely possible the sensor is damaged and the belt and the crank sensor needs to be replaced.
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The code is P0320 not P0340.
I understand what the code is, the code is set by referencing the cam sensor against the crank sensor and the computer is not smart enough to tell which really has the problem.
The key is if the belt was replaced and any loose teeth that shed from the belt were removed from the timing cover. If the belt is less than 30,000 miles then I would be replacing the cam sensor as shown, if not then I would be looking in the timing cover for a damaged belt, damaged wiring harness to the sensor or a failed sensor.
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The timing belt even if the car is still running good? The car runs pretty good.
Yes, the belt can shed a tooth ot two and that can crack the crank sensor causing a poor signal. Have the timing and balance belts been replaced?
If the crank sensor is OK then the cam sensor could have a problem and the computer is flagging the wrong sensor as they play off each other for the computer to determine which is the problem and the computer does not always flag the correct sensor.
Let me know what I can do to help