In the latest trading session, SkyWater Technology, Inc. (SKYT) closed at $33.89, marking a -2.56% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 1.16%. Elsewhere, the Dow gained 1.21%, while the tech-heavy Nasdaq added 1.18%.
The company's shares have seen an increase of 98.29% over the last month, surpassing the Computer and Technology sector's loss of 1.07% and the S&P 500's loss of 0.42%.
The investment community will be closely monitoring the performance of SkyWater Technology, Inc. in its forthcoming earnings report. In that report, analysts expect SkyWater Technology, Inc. to post earnings of -$0.01 per share. This would mark a year-over-year decline of 125%. Meanwhile, our latest consensus estimate is calling for revenue of $160 million, up 111.95% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.05 per share and a revenue of $431.05 million, indicating changes of -16.67% and 0%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for SkyWater Technology, Inc. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. SkyWater Technology, Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 48, putting it in the top 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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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SkyWater Technology, Inc. (SKYT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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