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Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2022

Stockholders' Equity Note [Abstract]

Schedule of assumptions used in estimation of grant date fair value of RSUs

	2017	2020	2022
Expected dividend yield	2.68%	0%	0%

Schedule of assumptions used in estimation of grant date fair value of options

Average Risk-free interest rate (a)	2.55%
Expected dividend yield	0.0%
Average expected volatility (b)	44.62%
Termination rate	9%
Suboptimal factor (c)	3.18

(a)	Risk-free interest rate represents risk free US$ zero-coupon US Government Bonds at time of grant.
(b)	Expected average volatility represents a weighted average standard deviation rate for the price of the Company’s ordinary shares on the NASDAQ National Market.
(c)	Suboptimal factor represents the multiple of the increase in the market share price on the day of grant of the option which, should it come to pass, will lead to exercise of the option by the employee. It is the average suboptimal factor of the Company and similar companies.

Average Risk-free interest rate (a)	0.75%
Expected dividend yield	0.0%
Average expected volatility (b)	45.29%
Termination rate	9%
Suboptimal factor (c)	3.16

(a)	Risk-free interest rate represents risk free US$ zero-coupon US Government Bonds at time of grant.
(b)	Expected average volatility represents a weighted average standard deviation rate for the price of the Company’s ordinary shares on the NASDAQ National Market.
(c)	Suboptimal factor represents the multiple of the increase in the market share price on the day of grant of the option which, should it come to pass, will lead to exercise of the option by the employee. It is the average suboptimal factor of the Company and similar companies.

Average Risk-free interest rate (a)	1.41%
Expected dividend yield	0.0%
Average expected volatility (b)	45.28%
Termination rate	9%
Suboptimal factor (c)	3.14

(a)	Risk-free interest rate represents risk free US$ zero-coupon US Government Bonds at time of grant.
(b)	Expected average volatility represents a weighted average standard deviation rate for the price of the Company’s ordinary shares on the NASDAQ National Market.
(c)	Suboptimal factor represents the multiple of the increase in the market share price on the day of grant of the option which, should it come to pass, will lead to exercise of the option by the employee. It is the average suboptimal factor of the Company and similar companies.

Average Risk-free interest rate (a)	1.79%
Expected dividend yield	0.0%
Average expected volatility (b)	44.38%
Termination rate	9%
Suboptimal factor (c)	3.16

(a)	Risk-free interest rate represents risk free US$ zero-coupon US Government Bonds at time of grant.
(b)	Expected average volatility represents a weighted average standard deviation rate for the price of the Company’s ordinary shares on the NASDAQ National Market.
(c)	Suboptimal factor represents the multiple of the increase in the market share price on the day of grant of the option which, should it come to pass, will lead to exercise of the option by the employee. It is the average suboptimal factor of the Company and similar companies.

Average Risk-free interest rate (a)	3.01%
Expected dividend yield	0.0%
Average expected volatility (b)	43.93%
Termination rate	9%
Suboptimal factor (c)	3.14

(a)	Risk-free interest rate represents risk free US$ zero-coupon US Government Bonds at time of grant.
(b)	Expected average volatility represents a weighted average standard deviation rate for the price of the Company’s ordinary shares on the NASDAQ National Market.
(c)	Suboptimal factor represents the multiple of the increase in the market share price on the day of grant of the option which, should it come to pass, will lead to exercise of the option by the employee. It is the average suboptimal factor of the Company and similar companies.

Average Risk-free interest rate (a)	2.91%
Expected dividend yield	0.0%
Average expected volatility (b)	44.02%
Termination rate	9%
Suboptimal factor (c)	3.14

(a)	Risk-free interest rate represents risk free US$ zero-coupon US Government Bonds at time of grant.
(b)	Expected average volatility represents a weighted average standard deviation rate for the price of the Company’s ordinary shares on the NASDAQ National Market.
(c)	Suboptimal factor represents the multiple of the increase in the market share price on the day of grant of the option which, should it come to pass, will lead to exercise of the option by the employee. It is the average suboptimal factor of the Company and similar companies.

Schedule of Stock Option Summary

			Options outstanding								Options exercisable
							Weighted average								Weighted average
							remaining								remaining
Exercise price			Number				contractual life				Number				contractual life
US$			of options				(in years)				of options				(in years)
26.91				18,141				0.6				18,141				0.6
33.27				14,865				3.3				14,865				3.3
28.38				23,699				1.4				23,699				1.4
39.62				66,343				2.1				66,343				2.1
36.11				72,212				3.3				72,212				3.3
33.83				62,418				4.1				62,418				4.1
32.54				107,037				5.4				107,037				5.4
41.84				115,758				6.4				-				-
47.98				103,923				7.1				-				-
35.69				26,666				7.4				-				-
34.90				50,000				7.5				-				-
				661,062								364,715

Schedule of Stock Option Activity

										Weighted
						Weighted				average
		Number				average				grant date
		of options				exercise price				fair value
						US$				US$
Balance at January 1, 2020			465,247
Granted			148,426				32.54				14.82
Exercised			(12,357	)			22.38				8.63
Forfeited			(11,269	)			33.93				14.56
Balance at December 31, 2020			590,047
Granted			133,925				41.84				16.62
Exercised			(132,702	)			34.01				12.85
Forfeited			(11,749	)			35.79				15.39
Balance at December 31, 2021			579,521
Granted			198,174				40.82				15.13
Exercised			(66,298	)			33.09				13.21
Forfeited			(50,335	)			41.67				15.75
Balance at December 31, 2022			661,062
Exercisable at December 31, 2022			364,715

Schedule of Restricted Share Units activity

						Weighted
		Number of				average
		Restricted				grant date
		Share Units				fair value
						US$
Balance at January 1, 2020			39,000
Granted			86,000				35.33
Vested			(39,000	)			34.43
Balance at December 31, 2020			86,000
Granted			-				-
Vested			-				-
Balance at December 31, 2021			86,000
Granted			16,000				43.02
Forfeited			(2,000	)			35.33
Vested			(43,000	)			35.33
Balance at December 31, 2022			57,000

Schedule of Allocation of the Stock-Based Compensation Expenses

		Year ended December 31
		2020				2021				2022
		US$ thousands
Cost of sales			535				480				638
Research and development costs			959				1,011				1,454
Selling and marketing expenses			602				697				774
General and administrative expenses			615				674				711
			2,711				2,862				3,577

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