Needham & Company Starts Camtek (CAMT) at Buy

Needham & Company initiates coverage on Camtek (NASDAQ: CAMT) with a Buy rating and a price target of $4.00, citing dual drivers of back-end semi and ink-jet blue ocean.

Analyst Y. Edwin Mok commented, "Camtek is a leading supplier of optical inspection products to the back-end semiconductor and PCB industries. Benefiting from increased investments into Wafer-Level Packaging, we believe Camtek is growing its back-end inspection business and gaining share with the success of the Eagle tool. Leveraging a stable PCB AOI business, Camtek launches the Gryphon ink-jet solid mask and legend tool, which we believe will transform the PCB industry. We believe good initial progress suggests strong customer interest and that any success in converting the first few customers could yield a multi-year product growth cycle. We view the stock's risk/reward as favorable and would use the recent pull-back as a buying opportunity."

For an analyst ratings summary and ratings history on Camtek click here. For more ratings news on Camtek click here.

Shares of Camtek closed at $2.86 yesterday.

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