CamtekIn news this morning, Camtek (CAMT) announced the company was chosen as the Automated Optical Inspection (AOI) System supplier for a leading semiconductor manufacturer.

 

Camtek states that “Initial orders from Camtek’s new Eagle product line totaling $2.8 million have been received and the installation of these systems will be completed in the coming weeks.”

I believe “initial orders” implies there’s more to come.

I encouraged subscribers to buy Camtek shares under $3.00  Camtek (CAMT) selloff overdone following Q3 earnings, and this contract win further supports my belief that this company is undervalued based on fundamentals.

Camtek is also launching an innovative, patented, inkjet-based 3D printer for the precise application of solder mask to printed circuit boards. The “Gryphon” printer recently passed beta testing and is available for PCB manufacturers to demo at the company’s California center. The company believes PCB manufacturers will realize considerable savings in the manufacturing of printed circuit boards using the Gryphon, and that the solder mask deposition by the Gryphon printers is superior in quality to current technologies in use.

Only 2 analysts follow the company, and they have an average EPS estimate of .33/share for 2015, representing 120% growth in earnings with a forward PE of 10.  While it remains to be seen if Camtek can grow EPS as rapidly as analysts are projecting, the company’s forward growth will be 100% organic with no dilution to shareholders. The company has a strong balance sheet and no long term debt which should facilitate commercialization of the Gryphon printer in 2015.

 


 

Graphene 3D Lab Inc. gary siig

 

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Disclosure: I am long shares and options of CAMT. I was not paid by any company or third party for this article.

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