Camtek price target raised to $48 from $40 at Needham

Needham raised the firm’s price target on Camtek to $48 from $40 and keeps a Buy rating on the shares. The company received orders of 42 systems from several Tier-1 customers for advanced packaging and HBM applications with estimated order value of about $40M, the analyst tells investors in a research note. Camtek will likely raise its full-year outlook and guide to growth for the second half of the year, Needham stated, maintaining its view that the company is uniquely positioned in the CMOS image sensor segment with dominant share which has seen exceptional growth driven by mobile, automotive, industrial IoT and security applications.