Long Position on CAMT @ $61.50 on 10/13/2023 (Momentum)

Camtek Ltd. (CAMT) develops, manufactures, and sells inspection and metrology equipment for the advanced interconnect packaging, memory, complementary metal oxide semiconductor image sensors, micro-electro mechanical systems, radio frequency, and other segments of the semiconductor industry. Stockwinners

The company provides inspection and metrology systems, including Eagle-i, a system that delivers 2D inspection and metrology capabilities; Eagle-AP, which addresses the advanced packaging market using software and hardware technologies that deliver superior 2D and 3D inspection and metrology capabilities on the same platform; and Golden Eagle, a panel inspection and metrology system to support fanout wafer level packaging applications. It serves semiconductor manufacturers, outsourced semiconductor assembly and test, integrated device manufacturers, and wafer level packaging subcontractors. 

On July 31st, CAMT reported earnings of $0.38 per share on revenue of $73.76 million for the second quarter ended June 2023. The consensus earnings estimate was $0.36 per share on revenue of $72.35 million. Shares have formed a bullish "cup and handle" and higher share prices are expected. The company reports on November 16th.

Wait for the entry point

 

Entry Point: $61.50

Stop Loss: $58.00

Trading Range: $20.83 to $65.12

Target Price: $67.50

Position closed on 10/19/2023 at price of $58.00 with a -5.69% loss in 6 days.

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