SkyWater Technology, Inc. (SKYT) ended the recent trading session at $31.32, demonstrating a -5.32% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 0.03%. On the other hand, the Dow registered a loss of 0.58%, and the technology-centric Nasdaq increased by 0.28%.
Prior to today's trading, shares of the company had gained 85.01% outpaced the Computer and Technology sector's gain of 0.43% and the S&P 500's gain of 0.6%.
Analysts and investors alike will be keeping a close eye on the performance of SkyWater Technology, Inc. in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$0.01, signifying a 125.00% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $160 million, showing a 111.95% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.05 per share and a revenue of $431.05 million, representing changes of -16.67% and 0%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for SkyWater Technology, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. 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 industry, currently bearing a Zacks Industry Rank of 52, finds itself in the top 22% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming 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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