Why Camtek (CAMT) Stock Is Jumping Today

NEW YORK (TheStreet) --Camtek (CAMT) was gaining 23.3% to $4.22 Tuesday after beating analysts' estimates for earnings int eh second quarter.

For the second quarter Camtek reported earnings of 8 cents a share, beating the Capital IQ Consensus Estimate of 4 cents a share by 4 cents. Revenue grew 4% year-over-year to $23.16 million, in line with analysts' estimates for the quarter.

"Our existing business continues to show solid performance, and overall Camtek is on track for a good year," Camtek chairman and CEO Rafi Amit said in a press release. "In the third quarter, we expect revenues to remain around the same level as that of the second quarter."

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TheStreet Ratings team rates CAMTEK LTD as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:

"We rate CAMTEK LTD (CAMT) a HOLD. The primary factors that have impacted our rating are mixed ? some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and compelling growth in net income. However, as a counter to these strengths, we find that the company's return on equity has been disappointing."

CAMT ChartCAMT data by YCharts

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Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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