SkyWater Technology, Inc. (SKYT) closed at $31.18 in the latest trading session, marking a -1.3% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.21% for the day. On the other hand, the Dow registered a gain of 1.03%, and the technology-centric Nasdaq decreased by 0.22%.
Shares of the company have depreciated by 11.26% over the course of the past month, underperforming the Computer and Technology sector's loss of 2.91%, and the S&P 500's gain of 1.7%.
Investors will be eagerly watching for the performance of SkyWater Technology, Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.07, indicating a 36.36% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $148 million, indicating a 150.59% increase compared to the same quarter of the previous year.
SKYT's full-year Zacks Consensus Estimates are calling for earnings of -$0.26 per share and revenue of $605 million. These results would represent year-over-year changes of -2700% and +36.83%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for SkyWater Technology, Inc. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, SkyWater Technology, Inc. is carrying a Zacks Rank of #3 (Hold).
The Electronics - Semiconductors industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 55, placing it within the top 23% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
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