Camtek Ltd. (CAMT) Stock Price & How to Invest
Last updated July 2026
Short answer
Camtek (CAMT) is an Israeli maker of inspection and metrology machines that check chips for defects and measure features during advanced packaging, and it is one of the purest listed ways to own the packaging step behind AI accelerators and HBM memory. It is a roughly $500 million revenue company with a roughly $6.8 billion market value, so the price already assumes the AI packaging build-out keeps running.
CAMT stock price
As of 2026-08-05, Camtek Ltd. (CAMT) last closed at $147.60, up 81.3% over the past year. Over the past 52 weeks it has traded between $76.73 and $207.46.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or Camtek Ltd.'s investor relations page. Walnut is informational, not investment advice.
What does Camtek Ltd. (CAMT) do?
Camtek Ltd. builds high-end optical inspection and metrology systems for semiconductor manufacturing. Its machines sit on the production floor at integrated device manufacturers, foundries and outsourced assembly and test houses (OSATs), scanning wafers and packages for defects and measuring three-dimensional features such as bumps, pillars and through-silicon vias. The Eagle family handles two-dimensional inspection and the Hawk line covers three-dimensional metrology. End applications span advanced interconnect packaging and heterogeneous integration, high-bandwidth memory, CMOS image sensors, compound semiconductors, MEMS and RF. The company is headquartered in Israel with manufacturing in Israel and Germany, files as a foreign private issuer on Nasdaq, and reported about 89 percent of sales into Asia Pacific in its most recent full geographic disclosure, with China alone around 31 percent.
The investment picture is a concentrated bet on one process step. Packaging used to be the cheap back end of chipmaking; AI accelerators changed that, because stacking logic and memory in configurations like CoWoS and HBM creates many more places for a defect to hide and many more dimensions to measure. Camtek says roughly 70 percent of revenue is now AI-related, and management has pointed to more than $260 million of orders and forecasts from two HBM manufacturers covering 2026 and 2027. Revenue grew 16 percent in 2025 to about $496 million, then flattened in early 2026 (Q1 revenue of about $122 million, up only about 2 percent year over year) before guided reacceleration in the second half. Gross margin sits around 51 percent and non-GAAP operating margin around 25 percent, which is respectable for a company this size but below the scale economics of a KLA. In a portfolio, CAMT behaves like a high-beta semiconductor capital equipment holding: it trades on order announcements and memory capex headlines rather than on trailing results.
What's driving Camtek Ltd. (CAMT)?
1. HBM and the memory stack.
Every additional layer in a high-bandwidth memory stack adds inspection and measurement steps, and custom HBM designs that put a logic die beneath the DRAM stack add more still. Camtek has disclosed orders and forecasts exceeding $260 million from two HBM manufacturers spanning 2026 and 2027, including Hawk three-dimensional metrology systems. This is the single clearest visible driver in the model and also the main reason the stock reprices on memory capex news.
2. OSATs moving up the value chain.
Outsourced assembly and test providers are taking a larger role in advanced packaging for AI parts rather than leaving it entirely to the foundries. Camtek booked more than $90 million of OSAT orders in a single quarter, including a $31 million multi-system order for CoWoS-like packaging and a separate $55 million tier-one OSAT deal covering 2.5D and 3D devices. A broader customer base than a single foundry reduces the risk of one buyer setting the year.
3. Software and AI-based defect classification.
Camtek acquired Visual Layer, a Tel Aviv AI company working on annotation and classification for visual data, and has been folding that technology into its detection and metrology software. Better automatic classification is what lets a tool run with fewer engineers reviewing images, which is the argument for pricing power. Management frames the combined offering as expanding the addressable market past $2 billion.
4. Balance sheet flexibility.
The company carries roughly $670 million of cash and equivalents against about $488 million of convertible debt, leaving a net cash position of roughly $360 million. That funds capacity expansion, product development and tuck-in acquisitions without equity issuance. It also cushions a downturn, which matters for an equipment vendor whose revenue can drop sharply when customers pause tool purchases.
What are the risks to Camtek Ltd. (CAMT)?
Customer concentration is real: a handful of memory makers, foundries and OSATs decide most of the year, and a single pushed order can move a quarter. Geographic concentration compounds it, with the large majority of sales into Asia Pacific and roughly a third historically into China, exposing the company to export controls and tariff policy on both sides. Growth is lumpy rather than smooth, as the flat first quarter of 2026 followed by guidance for a 25 percent-plus second-half step-up shows. Valuation leaves little margin for error, with the shares near 13 times trailing sales and roughly 38 times forward earnings after a more than 50 percent gain over the prior year. Camtek is also a much smaller company than KLA and competes against a rival with far greater scale in tools, software and service.
What is the Camtek Ltd. (CAMT) forecast?
12 analysts publish price targets on CAMT, averaging $187.58 against a $147.60 price as of August 2026, or +27.1%. The published targets run from $160.00 to $220.00, a moderate spread, and the ratings split 7 buy, 5 hold, 0 sell. Over the last six months there have been 11 raises and 0 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.
Read the full CAMT forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.
Is CAMT a buy or a sell?
We give no verdict on Camtek Ltd.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.
The case for buying. HBM and the memory stack. Every additional layer in a high-bandwidth memory stack adds inspection and measurement steps, and custom HBM designs that put a logic die beneath the DRAM stack add more still. The most optimistic published target, $220.00, assumes this works close to its best case.
The case against. Customer concentration is real: a handful of memory makers, foundries and OSATs decide most of the year, and a single pushed order can move a quarter. The most pessimistic target, $160.00, is roughly what CAMT is worth if this bites instead.
Read the full bull and bear case on CAMT, including what would have to change to break either one. Walnut is not an investment adviser.
How is Camtek Ltd. (CAMT) valued? (approximate, August 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Camtek Ltd.'s investor relations page or your broker.
- Revenue (TTM): ~$499M (FY2025 ~$496M, up ~16%)
- Q1 2026 revenue: ~$122M, up ~2.5% year over year
- Gross margin: ~51%
- Non-GAAP operating margin: ~25%
- Market cap: ~$6.8B (share price ~$148, forward P/E ~38x)
- Net cash: ~$360M (cash ~$670M, debt ~$488M)
Trailing GAAP earnings are misleading here. A roughly $89 million one-time capital loss on the repurchase of most of the 2021 convertible notes in the third quarter of 2025 dragged GAAP net income to about $48 million on a trailing basis, which is why headline trailing P/E screens near triple digits while forward P/E sits near 38. Non-GAAP net income for full-year 2025 was about $159 million. Second quarter 2026 results were scheduled for August 10, 2026, with guidance of $129 million to $131 million in revenue.
Who competes with Camtek Ltd. (CAMT)?
Large-scale process control
KLA Corporation is the dominant force in semiconductor inspection and metrology, with roughly $10 billion in annual revenue and the ability to bundle tools, software and service across the entire fab. KLA has been pushing harder into packaging as that step grows, which is the most direct competitive threat to Camtek's core market.
Direct packaging and metrology peers
Onto Innovation is the closest size and mix comparison, with around $1 billion in revenue and a heavy advanced packaging focus, competing on the same yield-improvement pitch. Nova Ltd. shares Camtek's Israeli roots and semiconductor metrology focus, though it leans toward integrated optical critical dimension measurement and modeling software rather than optical defect inspection.
Regional and adjacent inspection vendors
Koh Young Technology, SCREEN Holdings, Hitachi High-Tech and various Chinese domestic inspection vendors compete in specific segments and geographies. The domestic Chinese players matter most for the China revenue base, where local substitution policy encourages customers to qualify home-grown tools over imported ones.
What stocks are similar to Camtek Ltd. (CAMT)?
Other names that sit close to CAMT: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.
How to invest in Camtek Ltd. (CAMT)
There are three common ways to get CAMT exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so CAMT sits alongside other stocks that express the same thesis.
Walnut takes the portfolio route. Describe a thesis where CAMT fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.
The bottom line on Camtek Ltd. (CAMT)
CAMT is a small, high-margin equipment vendor levered to advanced packaging and HBM, priced for continued growth and prone to sharp moves whenever order timing shifts.
More on Camtek Ltd. (CAMT)
Whether CAMT is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is CAMT a buy or a sell?, and where the stock could go from here in the CAMT stock forecast.
For income investors, whether CAMT pays a dividend and how the payout looks is covered in does CAMT pay a dividend? And to weigh CAMT against a peer, read the full side-by-side comparisons: CAMT vs KLAC and CAMT vs ONTO.
Wondering how CAMT fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in Camtek Ltd. with AI
Connect the broker you already use and ask Walnut's AI how CAMT fits what you actually hold: whether you own it already through a fund, what it would do to your concentration, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What does Camtek actually sell?
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Optical inspection and metrology machines used during chip manufacturing and packaging. The Eagle systems handle two-dimensional defect inspection, scanning wafers and packages for flaws, while the Hawk line performs three-dimensional metrology, measuring the height and shape of features such as copper pillars, bumps and through-silicon vias. Customers buy them because catching a defect before an expensive AI package is assembled saves far more than the tool costs.
Why is Camtek tied to the AI trade?
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AI accelerators are built by stacking dies together, using techniques like CoWoS packaging and high-bandwidth memory. Each added layer and interconnect creates more places for defects and more dimensions that must be measured, which raises the number of inspection steps per part. Camtek says roughly 70 percent of its revenue is now AI-related, so the stock tends to move with AI capacity announcements from memory makers, foundries and packaging houses.
Why did revenue barely grow in the first quarter of 2026?
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Equipment revenue depends on when tools ship, not when demand appears. First quarter 2026 revenue of about $122 million was up only around 2.5 percent from the year-ago quarter after a 16 percent growth year in 2025, reflecting a digestion period at customers. Management simultaneously reported record order intake and guided the second half of 2026 to more than 25 percent above the first half, which is the shape of a timing gap rather than a demand gap.
Why does the trailing P/E look so extreme?
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A roughly $89 million one-time capital loss recognized in the third quarter of 2025 on the repurchase of about 83 percent of the 2021 convertible notes pushed GAAP net income for that quarter negative and dragged trailing twelve-month GAAP earnings to around $48 million. That produces a trailing P/E near 150 on screens. Full-year 2025 non-GAAP net income was about $159 million, and the forward multiple sits closer to 38 times.
How does Camtek compare with KLA and Onto Innovation?
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KLA is roughly twenty times Camtek's size and covers the full process-control stack, so it can bundle in ways a specialist cannot. Onto Innovation is the nearest comparison at around $1 billion in revenue with a similar advanced packaging emphasis. Camtek's argument is depth in packaging and IC substrate inspection specifically, where it has long-standing installed base at OSATs, rather than breadth across the entire fab.
What is the China exposure and why does it matter?
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In its most recent detailed geographic disclosure, Asia Pacific accounted for roughly 89 percent of revenue with China alone around 31 percent. That creates two-sided policy risk: export controls from the United States and its allies can restrict what Camtek ships, while Chinese domestic substitution policy encourages customers to qualify local inspection vendors instead. Neither risk is company-specific, but the concentration makes Camtek more sensitive to it than a diversified equipment maker.
How lumpy is the order book?
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Very. Camtek discloses individual orders because they are large enough to matter: a $31 million multi-system OSAT order, a $55 million tier-one OSAT deal, more than $50 million of Hawk systems from a single HBM maker, and more than $260 million of combined orders and forecasts from two HBM manufacturers covering 2026 and 2027. A handful of customers set the year, which is why quarterly results swing more than the underlying demand trend does.
How does CAMT typically behave in a portfolio?
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Like a high-beta semiconductor capital equipment position. It amplifies moves in the broader semi equipment group, reacts to memory capex headlines and individual order announcements, and can gap on guidance revisions because so much of the value sits in future years. The shares gained more than 50 percent over the twelve months to August 2026. Position sizing usually matters more here than entry timing, given how concentrated the customer and geographic base is.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Camtek Ltd.'s investor relations page or your broker before making investment decisions.