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CAMT

Camtek NasdaqGM:CAMT Stock Report

Last Price

US$23.17

Market Cap

US$1.0b

7D

-2.3%

1Y

-43.2%

Updated

30 Sep, 2022

Data

Company Financials +
CAMT fundamental analysis
Snowflake Score
Valuation5/6
Future Growth3/6
Past Performance5/6
Financial Health5/6
Dividends0/6

CAMT Stock Overview

Camtek Ltd., together with its subsidiaries, develops, manufactures, and sells inspection and metrology equipment for the advanced interconnect packaging, memory, complementary metal oxide semiconductor image sensors, micro-electro mechanical systems, radio frequency, and other segments of the semiconductor industry.

Camtek Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Camtek
Historical stock prices
Current Share PriceUS$23.17
52 Week HighUS$49.60
52 Week LowUS$22.89
Beta1.52
1 Month Change-14.19%
3 Month Change-3.01%
1 Year Change-43.23%
3 Year Change138.87%
5 Year Change320.51%
Change since IPO286.17%

Recent News & Updates

Sep 17
Camtek (NASDAQ:CAMT) Could Easily Take On More Debt

Camtek (NASDAQ:CAMT) Could Easily Take On More Debt

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it might be obvious that you need to...

Sep 06

Camtek secures 9 systems orders from tier-1 customers for delivery in 2023

Camtek (NASDAQ:CAMT) has received orders for 9 systems from a Tier-1 OSAT and 8 systems for Heterogenous Integration applications from two Tier-1 players. The orders support a technology change in its industry. It received orders for 35 systems since August 1, most of which will be delivered in the first half of 2023.

Aug 29
Camtek's (NASDAQ:CAMT) Returns On Capital Are Heading Higher

Camtek's (NASDAQ:CAMT) Returns On Capital Are Heading Higher

If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...

Aug 17
Camtek Ltd.'s (NASDAQ:CAMT) Intrinsic Value Is Potentially 22% Below Its Share Price

Camtek Ltd.'s (NASDAQ:CAMT) Intrinsic Value Is Potentially 22% Below Its Share Price

Does the August share price for Camtek Ltd. ( NASDAQ:CAMT ) reflect what it's really worth? Today, we will estimate the...

Shareholder Returns

CAMTUS SemiconductorUS Market
7D-2.3%-3.9%-2.5%
1Y-43.2%-28.9%-23.2%

Return vs Industry: CAMT underperformed the US Semiconductor industry which returned -27.7% over the past year.

Return vs Market: CAMT underperformed the US Market which returned -21.5% over the past year.

Price Volatility

Is CAMT's price volatile compared to industry and market?
CAMT volatility
CAMT Average Weekly Movement6.1%
Semiconductor Industry Average Movement7.8%
Market Average Movement6.9%
10% most volatile stocks in US Market15.6%
10% least volatile stocks in US Market2.8%

Stable Share Price: CAMT is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: CAMT's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1987404Rafi Amithttps://www.camtek.com

Camtek Ltd., together with its subsidiaries, develops, manufactures, and sells inspection and metrology equipment for the advanced interconnect packaging, memory, complementary metal oxide semiconductor image sensors, micro-electro mechanical systems, radio frequency, and other segments of the semiconductor industry. It provides inspection and metrology systems, including Eagle-i, a system that delivers 2D inspection and metrology capabilities; Eagle-AP, which addresses the advanced packaging market using software and hardware technologies that deliver superior 2D and 3D inspection and metrology capabilities on the same platform; and Golden Eagle, a panel inspection and metrology system to support fanout wafer level packaging applications. The company sells its products in the Asia Pacific, the United States, and Europe.

Camtek Fundamentals Summary

How do Camtek's earnings and revenue compare to its market cap?
CAMT fundamental statistics
Market CapUS$1.03b
Earnings (TTM)US$68.83m
Revenue (TTM)US$301.60m

14.9x

P/E Ratio

3.4x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
CAMT income statement (TTM)
RevenueUS$301.60m
Cost of RevenueUS$148.18m
Gross ProfitUS$153.42m
Other ExpensesUS$84.60m
EarningsUS$68.83m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)1.55
Gross Margin50.87%
Net Profit Margin22.82%
Debt/Equity Ratio58.0%

How did CAMT perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is CAMT undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CAMT?

Other financial metrics that can be useful for relative valuation.

CAMT key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue2.8x
Enterprise Value/EBITDA10x
PEG Ratio1.9x

Price to Earnings Ratio vs Peers

How does CAMT's PE Ratio compare to its peers?

CAMT PE Ratio vs Peers
The above table shows the PE ratio for CAMT vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average18.5x
UCTT Ultra Clean Holdings
14.6x44.9%US$1.2b
ACMR ACM Research
23x25.3%US$738.5m
VECO Veeco Instruments
23.4x19.4%US$942.1m
COHU Cohu
13.1x-9.4%US$1.2b
CAMT Camtek
14.9x8.0%US$1.0b

Price-To-Earnings vs Peers: CAMT is good value based on its Price-To-Earnings Ratio (14.9x) compared to the peer average (18.5x).


Price to Earnings Ratio vs Industry

How does CAMT's PE Ratio compare vs other companies in the US Semiconductor Industry?

Price-To-Earnings vs Industry: CAMT is good value based on its Price-To-Earnings Ratio (14.9x) compared to the US Semiconductor industry average (15.3x)


Price to Earnings Ratio vs Fair Ratio

What is CAMT's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CAMT PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14.9x
Fair PE Ratio16.2x

Price-To-Earnings vs Fair Ratio: CAMT is good value based on its Price-To-Earnings Ratio (14.9x) compared to the estimated Fair Price-To-Earnings Ratio (16.2x).


Share Price vs Fair Value

What is the Fair Price of CAMT when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CAMT ($23.17) is trading below our estimate of fair value ($29.42)

Significantly Below Fair Value: CAMT is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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Future Growth

How is Camtek forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

Future Growth Score

3/6

Future Growth Score 3/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


8.0%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CAMT's forecast earnings growth (8% per year) is above the savings rate (1.9%).

Earnings vs Market: CAMT's earnings (8% per year) are forecast to grow slower than the US market (14.7% per year).

High Growth Earnings: CAMT's earnings are forecast to grow, but not significantly.

Revenue vs Market: CAMT's revenue (49.3% per year) is forecast to grow faster than the US market (7.6% per year).

High Growth Revenue: CAMT's revenue (49.3% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if CAMT's Return on Equity is forecast to be high in 3 years time


Discover growth companies

Past Performance

How has Camtek performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


46.9%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: CAMT has a high level of non-cash earnings.

Growing Profit Margin: CAMT's current net profit margins (22.8%) are higher than last year (20%).


Past Earnings Growth Analysis

Earnings Trend: CAMT has become profitable over the past 5 years, growing earnings by 46.9% per year.

Accelerating Growth: CAMT's earnings growth over the past year (61.2%) exceeds its 5-year average (46.9% per year).

Earnings vs Industry: CAMT earnings growth over the past year (61.2%) exceeded the Semiconductor industry 54.4%.


Return on Equity

High ROE: CAMT's Return on Equity (20.4%) is considered high.


Discover strong past performing companies

Financial Health

How is Camtek's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: CAMT's short term assets ($541.7M) exceed its short term liabilities ($86.3M).

Long Term Liabilities: CAMT's short term assets ($541.7M) exceed its long term liabilities ($202.1M).


Debt to Equity History and Analysis

Debt Level: CAMT has more cash than its total debt.

Reducing Debt: CAMT's debt to equity ratio has increased from 0.04% to 58% over the past 5 years.

Debt Coverage: CAMT's debt is well covered by operating cash flow (26.3%).

Interest Coverage: CAMT earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


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Dividend

What is Camtek current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Camtek Dividend Yield vs Market
How does Camtek dividend yield compare to the market?
SegmentDividend Yield
Company (Camtek)0%
Market Bottom 25% (US)1.7%
Market Top 25% (US)4.7%
Industry Average (Semiconductor)2.1%
Analyst forecast in 3 Years (Camtek)0%

Notable Dividend: Unable to evaluate CAMT's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate CAMT's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if CAMT's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if CAMT's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: CAMT is not paying a notable dividend for the US market.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as CAMT has not reported any payouts.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

4.8yrs

Average management tenure


CEO

Rafi Amit (73 yo)

3.25yrs

Tenure

US$1,507,581

Compensation

Mr. Rafi Amit has been the Chief Executive Officer Camtek Ltd since January 2014. Mr. Amit has been the Chairman of the Board of Camtek Ltd. since June 3, 2019.He served as the President of Priortech Ltd....


CEO Compensation Analysis

Rafi Amit's Compensation vs Camtek Earnings
How has Rafi Amit's remuneration changed compared to Camtek's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

US$69m

Mar 31 2022n/an/a

US$65m

Dec 31 2021US$2mUS$313k

US$60m

Sep 30 2021n/an/a

US$55m

Jun 30 2021n/an/a

US$43m

Mar 31 2021n/an/a

US$32m

Dec 31 2020US$1mUS$313k

US$22m

Sep 30 2020n/an/a

US$19m

Jun 30 2020n/an/a

US$17m

Mar 31 2020n/an/a

US$18m

Dec 31 2019US$1mUS$313k

US$21m

Sep 30 2019n/an/a

US$22m

Jun 30 2019n/an/a

US$23m

Mar 31 2019n/an/a

US$21m

Dec 31 2018US$831kUS$313k

US$19m

Sep 30 2018n/an/a

US$16m

Jun 30 2018n/an/a

US$14m

Mar 31 2018n/an/a

US$4m

Dec 31 2017US$670kUS$313k

US$2m

Sep 30 2017n/an/a

US$3m

Jun 30 2017n/an/a

-US$4m

Mar 31 2017n/an/a

US$6m

Dec 31 2016US$626kUS$313k

US$869k

Sep 30 2016n/an/a

-US$9m

Jun 30 2016n/an/a

-US$11m

Mar 31 2016n/an/a

-US$11m

Compensation vs Market: Rafi's total compensation ($USD1.51M) is below average for companies of similar size in the US market ($USD4.14M).

Compensation vs Earnings: Rafi's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: CAMT's management team is considered experienced (4.8 years average tenure).


Board Members

Experienced Board: CAMT's board of directors are considered experienced (3.6 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

What is the ownership structure of CAMT?
Owner TypeNumber of SharesOwnership Percentage
Individual Insiders42,6330.1%
General Public11,521,13726.0%
Institutions15,625,58635.3%
Public Companies17,074,12738.6%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 67.23% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
20.91%
Priortech Ltd
9,256,687$214.5m0%no data
17.66%
Chroma ATE Inc.
7,817,440$181.1m0%no data
3.5%
Federated Hermes, Inc.
1,550,000$35.9m0%0.11%
3.33%
Migdal Mutual Funds Ltd.
1,474,373$34.2m-7.85%0.26%
2.61%
Acadian Asset Management LLC
1,153,483$26.7m-3.88%0.11%
2.22%
Meitav Investment House Ltd
981,509$22.7m52.31%0.22%
2.05%
Renaissance Technologies LLC
908,240$21.0m-1.37%0.03%
1.87%
The Vanguard Group, Inc.
826,321$19.1m4.44%no data
1.39%
Yelin Lapidot - Mutual Funds Management Ltd.
616,199$14.3m1.78%0.61%
1.38%
Invesco Capital Management LLC
608,876$14.1m0%0.01%
1.19%
Wasatch Advisors Inc
527,464$12.2m-10.87%0.06%
1.11%
Harel Mutual Funds Ltd.
493,347$11.4m0%0.36%
1.1%
More Mutual Funds Management (2013) Ltd.
486,432$11.3m0%0.64%
0.96%
Clal Financial Management Ltd
425,749$9.9m0%0.11%
0.92%
Susquehanna International Group, LLP, Asset Management Arm
405,723$9.4m459.98%0.02%
0.76%
Millennium Management LLC
337,833$7.8m-32.32%0.01%
0.71%
Psagot Mutual Funds Ltd.
312,796$7.2m2.29%0.43%
0.68%
Kabouter Management, LLC
301,280$7.0m0.3%0.45%
0.66%
Royce & Associates, LP
294,176$6.8m-1.24%0.07%
0.62%
Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet Ltd
275,095$6.4m0%0.54%
0.37%
I.B.I Investment House Ltd.
164,744$3.8m0%4.83%
0.37%
Psagot Index Funds Ltd
164,169$3.8m0%0.22%
0.3%
G2 Investment Partners Management LLC
134,217$3.1m20.14%1.01%
0.29%
Ayalon Mutual Funds Ltd.
129,403$3.0m0.14%0.44%
0.26%
The Phoenix Investment and Finances Ltd.
114,657$2.7m62.78%0.03%

Company Information

Camtek Ltd.'s employee growth, exchange listings and data sources


Key Information

  • Name: Camtek Ltd.
  • Ticker: CAMT
  • Exchange: NasdaqGM
  • Founded: 1987
  • Industry: Semiconductor Equipment
  • Sector: Semiconductors
  • Implied Market Cap: US$1.026b
  • Shares outstanding: 44.26m
  • Website: https://www.camtek.com

Number of Employees


Location

  • Camtek Ltd.
  • Ramat Gavriel Industrial Zone
  • PO Box 544
  • Migdal Haemek
  • 23150
  • Israel


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CAMTNasdaqGM (Nasdaq Global Market)YesOrdinary SharesUSUSDJul 2000
CAMTTASE (The Tel-Aviv Stock Exchange)YesOrdinary SharesILILSJul 2000
CMZDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJul 2000

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/30 00:00
End of Day Share Price2022/09/30 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.