Quick Win by the Algorithm: Growth Sees The Future Looking Bright For Camtek

Quick Win by the Algorithm

On May 19th, 2017, the I Know First algorithm issued a bullish forecast for Camtek Ltd. (CAMT). CAMT had a signal of 86.21 and a predictability of 0.25. As a result, in accordance with the forecast, the company’s stock increased by 42.98% in just 14 days, showing a quick win by the algorithm.

Quick Win

Camtek Ltd. designs, develops, manufactures, and markets automatic optical inspection and process enhancement systems. It operates through the following business segments Microelectronics and PCB. The Microelectronics segment produces integrated circuits on silicon wafers; each wafer contains numerous integrated circuits dices which are small block of semiconducting material on which a given functional circuit is fabricated. The PCB segment supports and interconnects a broad range of electronic components, such as integrated circuit devices, resistors, capacitors, coils and the like, and enables them to operate as an electronic system. PCBs consist of traces of conductive material, such as copper, laminated on either a rigid or a flexible insulating base. The company was founded in 1987 and is headquartered in Migdal Haemek, Israel.

It’s been a solid start to 2017 for Camtek with the First Quarter 2017 Fiscal Results released. Revenues for the quarter saw a 26% increase from the corresponding quarter last year to $30.8 million. The quarter also saw a 5% increase from the previous quarter.

Gross Profit on a GAAP basis was $14.8 million, this compares to $10.3 million in the corresponding quarter last year. Gross Profit for this quarter was 48.2% of revenues, an increase from the 45.7% in the prior quarter.

Operating profit on a GAAP basis was a healthy $3.9 million, which was 12.6% of revenues. Operating profit was up from a measly $0.4 million in the corresponding quarter of 2016. Net income on a GAAP basis was a real winner for CAMT. Compared to a net income of $24 thousand and $0.00 per diluted share in the first quarter of 2016, net income for the quarter totalled $3.3 million or $0.09 per diluted share. The company was able to report a positive operating cash flow of $5.9 million during the quarter.

CEO of Camtek Rafi Amir, continues to look ahead to the future, with the outlook for the second quarter continued growth. The expected revenues for the quarter are between $33-$34 million.

This bullish forecast on CAMT was sent to current I Know First subscribers on May 19, 2017. 

Before making any trading decisions, consult the latest forecast as the algorithm updates predictions daily. You can use the algorithm for intra-day trading. The predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.