SkyWater Technology, Inc. (SKYT) closed the most recent trading day at $19.71, moving +2.07% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.28%. Meanwhile, the Dow experienced a drop of 0.52%, and the technology-dominated Nasdaq saw a decrease of 0.08%.
The stock of company has risen by 96.24% in the past month, leading the Computer and Technology sector's gain of 7.19% and the S&P 500's gain of 4.03%.
The investment community will be paying close attention to the earnings performance of SkyWater Technology, Inc. in its upcoming release. The company is predicted to post an EPS of -$0.17, indicating a 312.5% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $135.5 million, up 44.43% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.44 per share and revenue of $417.8 million, which would represent changes of -833.33% and +22.07%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for SkyWater Technology, Inc. Recent revisions tend to reflect the latest 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. SkyWater Technology, Inc. presently features a Zacks Rank of #3 (Hold).
The Electronics - Semiconductors industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 149, positioning it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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SkyWater Technology, Inc. (SKYT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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