SkyWater Technology, Inc.SKYT shares rallied 6.2% in the last trading session to close at $32.46. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 12.2% loss over the past four weeks.
SkyWater Technology is benefiting from strong growth in quantum computing-related revenues, successful integration and financial contribution from its newly acquired Fab 25 in Texas, and increased demand for secure, U.S.-based semiconductor manufacturing and advanced packaging solutions.
This company is expected to post quarterly loss of $0.07 per share in its upcoming report, which represents a year-over-year change of +36.4%. Revenues are expected to be $148 million, up 150.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For SkyWater Technology, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on SKYT going forward to see if this recent jump can turn into more strength down the road.
SkyWater Technology is a member of the Zacks Electronics - Semiconductors industry. One other stock in the same industry, Ambiq Micro, Inc.AMBQ, finished the last trading session 10.4% higher at $63.23. AMBQ has returned -35.2% over the past month.
Ambiq Micro, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.26. Compared to the company's year-ago EPS, this represents a change of +39.5%. Ambiq Micro, Inc. currently boasts a Zacks Rank of #3 (Hold).
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