CAMT - Camtek price target lowered to $30 from $33 at BofA
- BofA analyst Vivek Arya lowered the firm's price target on Camtek ( CAMT ) to $30 from $33 and keeps a Neutral rating on the shares.
- Semiconductor downturns happen every three-to-four years, and "we could be due for another one," said analyst.
- Tighter global monetary policy, geopolitical turmoil and consumer weakness is likely to pressure chip demand in the second half of 2022 and 2023.
- However, unit weakness "could be cushioned by richer non-consumer mix, robust pricing, expanding content, and constrained supply," and cuts his 2022 semi sales forecast to $608B and 2023 forecast to $604B.
- Camtek's SA Quant Rating and Wall St. Analysts Rating both stands with a Buy (2 Very Bullish, 2 Bullish).
- Since the start of 2022, Camtek shares were down around 49% , and over a period of one year, shares were down around 35% .
- Shares are currently down ~5.30% to $24.67 today.
For further details see:
Camtek price target lowered to $30 from $33 at BofA