Early market action was kind to three separate semiconductor plays on Nov. 26, with Camtek Ltd. ($CAMT) and GigOptix Inc. (GIG) both experiencing highly substantial gains by midday.
Camtek Gets on the 3D Printing Train
Tech is an industry that thrives on hype, and there is perhaps no greater hype within the sector than 3D printing. Camtek’s announcement the day prior that in 2014 they would roll out a commercial 3D printer that manufactures Printed Circuit Boards caused the company’s shares to more than double.
Even being included in the conversation of 3D printing plays was enough to send Camtek soaring. The reclassification puts Camtek in the same league as other red-hot 3D printing properties Voxeljet (VJET) and 3D Systems (DDD) .
While the majority of the Camtek’s gains happened on Nov. 24, investor excitement over the new product has so far not waned, with shares notching an additional 18.70 percent by midday to hit $5.41.
However, considering the pop originated from an incredibly bullish Seeking Alpha blog post, whether that hype can be sustained is far from certain.
Two Analysts Get Bullish on GigOptix
The $31.4 million market cap GigaOptix popped after Craig-Hallum initiated coverage on the company, instituting a “buy” rating on the company’s stock, and set a price target of $3.00 a share, or almost 150 percent above its valuation.
In a separate note the day prior, Roth Capital also initiated coverage at a “buy,” and set a price target at $2.00 a share, nearly 50 percent higher than its closing price at the time.
GigOptix had been way down this year, shedding 30.95 percent of its value from early January to Nov. 24. The semiconductor manufacturer neutralized a significant portion of the YTD losses on Nov. 25, rising 22.08 percent to hit $1.77 a share.
Trading volume was more than eight times higher than average.
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