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Camtek (NASDAQ:CAMT) CAMT is set to report third-quarter 2021 results on Oct 27.
For the quarter, Camtek projects revenues between $69 million and $71 million.
The Zacks Consensus Estimate for quarterly revenues is pegged at $70 million, indicating growth of 74.8% from the figure reported in the year-ago quarter.
The consensus mark for third-quarter earnings is pegged at 41 cents per share, unchanged over the past 30 days. The figure indicates a year-over-year surge of 127.8%.
Camtek’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and was in line in the remaining one, the average surprise being 8.2%.
Let’s see how things have shaped up for Camtek prior to this announcement.
Camtek’s third-quarter 2021 results are expected to have benefited from strong demand for advanced packaging fueled by the transition to 5G smartphones.
Camtek is expected to have benefited from strong demand for advanced packaging applications, including Fan-Out and heterogeneous integration, as well as CMOS Image Sensor.
Increased demand for semiconductors in data centers and ongoing transition in the automotive industry to electrification, connectivity and autonomous driving have been aiding top-line growth.
Strong demand for Camtek’s advanced packaging solutions in Asia has also been a key catalyst. In second-quarter 2021, 88% of the company’s sales came from Asia, with a major contribution from China.
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Camtek has an Earnings ESP of 0.00% and carries a Zacks Rank #3 currently. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are a few companies you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat in their upcoming releases:
Alphabet (NASDAQ:GOOGL) GOOGL has an Earnings ESP of +7.71% and is Zacks #2 Ranked. You can see the complete list of today’s Zacks #1 Rank stocks here.
CACI International CACI has an Earnings ESP of +4.43% and carries a Zacks Rank of 2, at present.
Advanced Micro Devices (NASDAQ:AMD) AMD has an Earnings ESP of +2.31% and carries a Zacks Rank of 2, at present.
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