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Camtek
(NASDAQ:CAMT)
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Rating:66Neutral
Price Target:
$131.00
▼(-10.68% Downside)
Action:Reiterated
Date:08/10/26
The score is driven primarily by solid underlying fundamentals (strong margins and free cash flow) and a constructive earnings-call outlook with strong guidance and backlog. Offsetting these positives are a demanding valuation (very high P/E) and only mixed technical momentum, along with financial risk signals from 2025’s earnings compression and higher leverage.
Positive Factors
Advanced Packaging Growth
Strong orders and a backlog extending into 2027 indicate that demand is moving beyond a single quarter. AI-driven advanced packaging, including HBM and 2.5D/3D integration, can support sustained system adoption and reinforce Camtek’s position in a growing semiconductor equipment niche.
Negative Factors
Net Income Compression
The sharp decline in net income and net margin shows that strong gross and operating performance has not translated consistently into bottom-line earnings. If below-the-line pressure persists, it could reduce internally funded investment capacity and make future profitability more sensitive to execution.
Read all positive and negative factors
Positive Factors
Negative Factors
Advanced Packaging Growth
Strong orders and a backlog extending into 2027 indicate that demand is moving beyond a single quarter. AI-driven advanced packaging, including HBM and 2.5D/3D integration, can support sustained system adoption and reinforce Camtek’s position in a growing semiconductor equipment niche.
Read all positive factors
Camtek (CAMT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.65B
Dividend Yield1.62%
Average Volume (3M)498.12K
Price to Earnings (P/E)151.4
Beta (1Y)1.83
Revenue Growth7.94%
EPS Growth-72.56%
CountryUS
Employees709
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)0.80
Shares Outstanding46,668,180
10 Day Avg. Volume717,866
30 Day Avg. Volume498,117
Financial Highlights & Ratios
PEG Ratio-1.66
Price to Book (P/B)7.88
Price to Sales (P/S)9.80
P/FCF Ratio38.13
Enterprise Value/Market Cap1.46
Enterprise Value/Revenue16.23
Enterprise Value/Gross Profit32.43
Enterprise Value/Ebitda277.55
Forecast
1Y Price Target
$177.81Price Target Upside21.24% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering10
EPS Forecast (FY)3.62
Revenue Forecast (FY)$594.45M
Camtek Business Overview & Revenue Model
Company Description
Camtek Ltd., operating with its subsidiaries, is dedicated to the development, manufacturing, and global distribution of advanced inspection and precision measurement tools. These critical systems serve a variety of specialized segments within the...
How the Company Makes Money
Camtek makes money primarily by selling capital equipment—automated inspection and metrology systems—into semiconductor production lines. Revenue is largely generated from (1) system sales: one-time purchases of inspection/metrology tools used at ...
Camtek Earnings Call Summary
Earnings Call Date:Aug 10, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Positive
The call conveyed strong operational and market momentum: record revenue, a very large order backlog (> $600M), robust Advanced Packaging demand (with sizable expected H2 growth), accelerating adoption of new platforms (Eagle G5, Hawk), and positive margin and guidance targets. Key risks include working capital strain (higher AR and DSO), some bookings shifting into 2027 (timing risk), regional revenue concentration in Asia/China, and short-term OpEx increases from strategic investments. On balance, the positive operational results, backlog, and forward guidance materially outweigh the execution and working-capital challenges.Positive Updates
Record Quarterly Revenue
Second quarter revenue reached a record $133.2 million, up 8% year-over-year and up 10% sequentially versus Q1 2026.
Negative Updates
Working Capital Pressure — Increased Accounts Receivable and DSO
Accounts receivable rose to $153.9 million (from $131.7 million prior quarter) and DSO increased to 105 days, which may pressure cash conversion despite a large cash balance.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Quarterly Revenue
Second quarter revenue reached a record $133.2 million, up 8% year-over-year and up 10% sequentially versus Q1 2026.
Read all positive updates
Company Guidance
The company guided to third-quarter revenue of $158–$160 million (about a 20% sequential increase from Q2’s $133.2M) and reiterated expectations for more than 30% growth in H2 2026 versus H1, driven by Advanced Packaging (AP) which management expects to grow ~45% in H2 vs H1 and to have Q4 AP revenue ~70% higher than Q1; AP was ~75% of Q2 revenue and is expected to be roughly 80% of revenue by year-end. Management noted strong product mix tailwinds (Eagle G5 and Hawk accounted for ~50% of systems revenue in Q2 and should increase), a year‑to‑date order intake >$600M (≈80% AP, OSATs >50% of orders, HBM >20% of the $600M, photonics ~5%) with deliveries into 2027, and continued revenue growth into 2027. Profitability is expected to improve from Q2 levels (gross margin 51.4% and operating margin 27%) toward ~52.5–53% gross margin and ~30–32% operating margin by year‑end; balance‑sheet/working‑capital metrics cited include cash and equivalents of $815.8M, AR $153.9M with DSO of 105 days, and inventory expected to rise to support the ramp.Camtek Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
64
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 509.02M | 496.07M | 429.23M | 315.38M | 320.91M | 269.66M |
| Gross Profit | 254.77M | 250.32M | 209.95M | 147.63M | 159.86M | 137.34M |
| EBITDA | 29.77M | 64.11M | 143.00M | 94.51M | 94.64M | 75.17M |
| Net Income | 37.67M | 50.72M | 118.52M | 78.63M | 79.95M | 60.28M |
Balance Sheet | ||||||
| Total Assets | 1.34B | 1.26B | 892.04M | 787.67M | 677.09M | 585.61M |
| Cash, Cash Equivalents and Short-Term Investments | 630.36M | 668.16M | 388.04M | 354.03M | 399.66M | 397.94M |
| Total Debt | 488.50M | 519.83M | 207.07M | 201.15M | 199.44M | 197.57M |
| Total Liabilities | 628.89M | 642.83M | 342.81M | 311.52M | 292.99M | 291.98M |
| Stockholders Equity | 710.16M | 617.00M | 549.24M | 476.15M | 384.10M | 293.63M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 127.47M | 112.14M | 71.23M | 49.60M | 56.89M |
| Operating Cash Flow | 0.00 | 141.87M | 122.24M | 79.32M | 57.80M | 60.96M |
| Investing Cash Flow | 0.00 | -310.32M | -55.91M | -107.45M | -150.79M | -120.18M |
| Financing Cash Flow | 0.00 | 218.99M | -60.05M | 182.00K | 3.00K | 194.80M |
Camtek Technical Analysis
Negative
146.66
Price Trends
144.36
Negative
151.50
Negative
157.74
Negative
Market Momentum
-6.46
Positive
33.97
Neutral
17.57
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CAMT, the sentiment is Negative. The current price of 146.66 is above the 20-day moving average (MA) of 142.97, above the 50-day MA of 144.36, and below the 200-day MA of 157.74, indicating a bearish trend. The MACD of -6.46 indicates Positive momentum. The RSI at 33.97 is Neutral, neither overbought nor oversold. The STOCH value of 17.57 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CAMT.
Camtek Risk Analysis
Camtek disclosed 28 risk factors in its most recent earnings report. Camtek reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Camtek Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $7.70B | 66.56 | 10.96% | ― | 18.01% | 161.14% | |
69 Neutral | $190.02B | 39.52 | 85.38% | 0.58% | 11.72% | 20.58% | |
68 Neutral | $9.75B | 74.13 | 6.50% | ― | 8.08% | -33.87% | |
66 Neutral | $5.65B | 151.45 | 5.82% | 1.62% | 7.94% | -72.56% | |
66 Neutral | $9.90B | 35.61 | 20.25% | ― | 16.16% | 8.14% | |
63 Neutral | $2.27B | -57.71 | -4.91% | 1.11% | 32.66% | 55.60% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
CAMT
Camtek
121.16
0.61
0.51%
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24.75
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198.68
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311.35
-39.84
-11.34%
Camtek Corporate Events
Camtek Forecasts Record 2026 Results and Strong 2027 Growth on AI Chip Packaging Demand
Oct 14, 2026
Camtek Ltd., a leading supplier of inspection and metrology solutions to advanced semiconductor packaging markets, outlined its strengthening position in AI-focused chip manufacturing at an analyst and investor presentation in San Francisco on Oct...
Camtek Flags Record Q3 2026 Sales and Strong 2027 Revenue Outlook on AI Packaging Demand
Oct 14, 2026
Camtek Ltd. reported that its revenue for the third quarter of 2026, ended September 30, is expected to reach $160-161 million, slightly above prior guidance and up 27% year over year. The figures are preliminary and will be finalized with full Q3...
Camtek Posts Record Q2 2026 Revenue and Signals Strong H2 Growth
Aug 10, 2026
Camtek reported record second-quarter 2026 revenue of $133.2 million, up 10% sequentially and 8% year on year, driven by strong demand across advanced packaging and other high-end semiconductor segments. Despite GAAP operating income falling 15% a...
Camtek Shareholders Approve All Proposals at July 29 Annual Meeting
Jul 29, 2026
Camtek Ltd., a foreign private issuer headquartered in Migdal Haemek’s Ramat Gavriel Industrial Zone in Israel, operates in the technology and industrial sphere serving semiconductor and electronics markets. The company is registered with th...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.