Camtek Ltd (CAMT) Receives a New Rating from B.Riley FBR

By Jason Carr

B.Riley FBR analyst Craig Ellis initiated coverage with a Buy rating on Camtek Ltd (CAMTResearch Report) yesterday and set a price target of $13. The company’s shares closed yesterday at $9.35.

Ellis noted:

“Tuesday, 8/6, pre-market, back-end inspection specialist CAMT’s 2Q results met consensus, but the guide was $3.0M/8.5% lower due to intensifying multi-region macro cross currents. Even so, on the call new RF SAM expansion opportunities emerged to round out front end macro inspection potential we first highlighted entering C19. Thus, we now see four drivers fueling $9.0M/qtr in incremental 12-month sales, of which $5.5M/60% are company-specific and the balance well-recognized secular forces such as Advanced Packing and high bandwidth memory. Therefore, confidence rises that after 2H19’s cyclical slowdown, Y/Y revenue growth can return to high double-digits in 2H20, where revenues and EPS can annualize near $150M/$0.80, bringing longer-term targets of $200M/$1.00 into view.”

According to TipRanks.com, Ellis is a 4-star analyst with an average return of 6.6% and a 51.2% success rate. Ellis covers the Consumer Goods sector, focusing on stocks such as Applied Materials Inc, Axcelis Technologies, and Rudolph Technologies.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Camtek Ltd with a $13.50 average price target, which is a 44.4% upside from current levels. In a report released yesterday, Northland Securities also maintained a Buy rating on the stock with a $14 price target.

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The company has a one-year high of $11.25 and a one-year low of $6.29. Currently, Camtek Ltd has an average volume of 152.2K.

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Camtek Ltd. manufactures metrology and inspection equipment, and provides software solutions serving the advanced packaging, memory, complementary metal-oxide-semiconductor image sensors, micro-electro mechanical systems radio frequency and other segments in the Semiconductors industry.