Needham & Company Downgrades Camtek (CAMT) to Hold
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Needham & Company downgraded Camtek (NASDAQ: CAMT) from Buy to Hold amid the recent run.
Analyst Y. Edwin Mok said while they expect the growth trend to continue into 2H17, they expect to see some deceleration as large orders for back-end semi inspections materialize and the PCB business normalizes.
Mok said the stock does not look expensive at a CY2018 ex-cash P/E of 12x, but historically it has carried a low multiple due to uncertainty around the Gryphon inkjet solder mask efforts.
Shares of Camtek closed at $5.91 yesterday.
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