CAMT - Camtek: Too Much Of A Momentum Run

2024-07-04 07:49:02 ET

Summary

• Camtek's shares have been setting fresh highs, driven by strong momentum in new orders, related to the emergence of AI, now translating into sales growth.
• The company was a hidden gem in the semiconductor industry, with strong sales growth and profitability, yet it now has commanded demanding valuations.
• Despite strong demand for high-bandwidth memory chips, Camtek's stock is in a momentum run largely driven by high expectations, making it vulnerable to a potential setback.

Shares of Camtek ( CAMT ) have been setting fresh highs. In February, I last inspected the semi inspection play, which has been benefiting from strong momentum in terms of new orders....

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