Gravity Immaterial for Camtek LTD. (NASDAQ:CAMT)

Camtek LTD. (NASDAQ:CAMT)

Camtek LTD. (NASDAQ:CAMT)

Camtek LTD. (NASDAQ:CAMT) is up over 90% since the May 8th closing price of $4.03. Today CAMT closed at $7.67 – an all-time high. Today’s volumes were massive. Over 2.7 million shares traded hands for a stock that has a 30-day, daily average volume of less than 285,000.

Performance History

The upward move began in June of 2016 when shares could be bought for under $2.00. In the 12 months that have followed, CAMT prices have finished the month lower than they began only three times. YTD, the NASDAQ Composite Index has gained 20.57% while CAMT has gained over 133%. In the past year, CAMT has gained over 285% while the NASDAQ has gained just 29.8%. Camtek LTD. (NASDAQ:CAMT) shares have a Relative Strength Index (RSI) of over 91. That is serious nosebleed territory when one considers that an RSI figure of 70 is generally regarded as the level when a stock is indicated to have begun entering “overbought” territory.

What Camtek Does

Founded in 1987, Camtek LTD. (NASDAQ:CAMT) is a technology-based company with headquarters and operations in Israel. Camtek designs, develops, and markets automated optical inspection (AOI) equipment for use in the manufacture of semiconductor wafers, integrated circuit substrates, and printed circuit boards. The AOI systems are used to detect defects that may have happened in the manufacturing process. Camtek also is in the business of providing ink technology products for the electronic manufacturing sector. Camtek markets its products globally.

How The Move Began

According to Zack’s Research, quarterly earnings per share were estimated at around $0.06 per share one month ago but those estimates are now 50% higher at $0.09 per share. For the year, Zack’s consensus estimates have been raised from $0.28 EPS to $0.36 EPS. Should Camtek LTD. (NASDAQ:CAMT) hit those figures it would be quite a gain from 2015 when shareholders experienced an EPS loss of (-$0.30) but were followed up in 2016 with a profit of $0.13 EPS. Sales have improved each and every year since 2012 when Camtek LTD. (NASDAQ:CAMT) reported sales of $84.5 million. By 2016 sales were reported at $109.5 million.

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. All information, or data, is provided with no guarantees of accuracy.

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About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

Author: Marcus Anderson

Marc has a degree in economics and a MSc. in Finance. Marc worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

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