SkyWater Technology, Inc. (SKYT) closed the most recent trading day at $6.84, moving +1.03% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 0.79%. On the other hand, the Dow registered a gain of 0.78%, and the technology-centric Nasdaq increased by 0.64%.
Shares of the company have depreciated by 16.93% over the course of the past month, underperforming the Computer and Technology sector's loss of 4.81% and the S&P 500's loss of 3.56%.
Investors will be eagerly watching for the performance of SkyWater Technology, Inc. in its upcoming earnings disclosure. The company is expected to report EPS of -$0.13, down 62.5% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $61.05 million, showing a 23.34% drop compared to the year-ago quarter.
SKYT's full-year Zacks Consensus Estimates are calling for earnings of -$0.07 per share and revenue of $309.2 million. These results would represent year-over-year changes of -216.67% and -9.66%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for SkyWater Technology, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. SkyWater Technology, Inc. presently features a Zacks Rank of #1 (Strong Buy).
The Electronics - Semiconductors industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 34, this industry ranks in the top 14% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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SkyWater Technology, Inc. (SKYT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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