B.Riley FBR analyst Craig Ellis reiterated a Buy rating on Camtek Ltd (CAMT) today and set a price target of $10.50. The company’s shares opened today at $6.68.
Ellis observed:
“We recently caught up with Camtek (CAMT) management, checking in on near- and long-term dynamics for the back-end inspection specialist and we are incrementally more comfortable execution is on track for near-term sales growth and long-term SAM expansion. First, we sense mgmt confidence with 4Q18 and 1Q19 Q/Q sales growth despite demand crosscurrents and often-soft 1Q seasonality. For example, we believe China demand and DRAM orders are holding up well. Second, we believe 2D macro inspection product traction remains healthy, capable of LDD to mid-teens Y/Y growth with $8.0M-$9.0M of annual front end SAM expansion. Third, while CY19 sets up as a capacity absorption year for industry, new products, SAM expansion, and favorable secular exposure seem to augur well for LDD CAMT growth.”
According to TipRanks.com, Ellis is a top 100 analyst with an average return of 16.7% and a 54.6% success rate. Ellis covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Applied Materials Inc, and Axcelis Technologies.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Camtek Ltd with a $11.75 average price target.
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Camtek Ltd’s market cap is currently $246.7M and has a P/E ratio of 15.39. The company has a Price to Book ratio of 2.60.
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Camtek Ltd. manufactures metrology and inspection equipment, and provides software solutions serving the advanced packaging, memory, complementary metal-oxide-semiconductor (CMOS) image sensors, micro-electro mechanical systems (MEMS), radio frequency (RF), and other segments in the Semiconductors industry.
