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Camtek (CAMT) Soars 3.7%: Is Further Upside Left in the Stock?
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Camtek (CAMT - Free Report) shares ended the last trading session 3.7% higher at $163.12. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 3.5% loss over the past four weeks.
The uptrend was largely buoyed by a $55 million multi-system order from a client supporting artificial intelligence (AI) applications, along with $50 million in orders for its high-tech Hawk systems. The solid demand trends are buoyed by heavy usage of machines by Tier-1 manufacturers to develop advanced packaging and high-bandwidth memory solutions for AI chips.
This maker of automatic optical inspection and process enhancement systems is expected to post quarterly earnings of $0.76 per share in its upcoming report, which represents a year-over-year change of -3.8%. Revenues are expected to be $130.23 million, up 5.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Camtek, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CAMT going forward to see if this recent jump can turn into more strength down the road.
Camtek belongs to the Zacks Electronics - Measuring Instruments industry. Another stock from the same industry, inTest Corporation (INTT - Free Report) , closed the last trading session 6.9% higher at $18.17. Over the past month, INTT has returned 3.8%.
For inTest, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.1. This represents a change of +233.3% from what the company reported a year ago. inTest currently has a Zacks Rank of #3 (Hold).
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Camtek (CAMT) Soars 3.7%: Is Further Upside Left in the Stock?
Camtek (CAMT - Free Report) shares ended the last trading session 3.7% higher at $163.12. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 3.5% loss over the past four weeks.
The uptrend was largely buoyed by a $55 million multi-system order from a client supporting artificial intelligence (AI) applications, along with $50 million in orders for its high-tech Hawk systems. The solid demand trends are buoyed by heavy usage of machines by Tier-1 manufacturers to develop advanced packaging and high-bandwidth memory solutions for AI chips.
This maker of automatic optical inspection and process enhancement systems is expected to post quarterly earnings of $0.76 per share in its upcoming report, which represents a year-over-year change of -3.8%. Revenues are expected to be $130.23 million, up 5.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Camtek, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CAMT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Camtek belongs to the Zacks Electronics - Measuring Instruments industry. Another stock from the same industry, inTest Corporation (INTT - Free Report) , closed the last trading session 6.9% higher at $18.17. Over the past month, INTT has returned 3.8%.
For inTest, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.1. This represents a change of +233.3% from what the company reported a year ago. inTest currently has a Zacks Rank of #3 (Hold).