In the latest close session, SkyWater Technology, Inc. (SKYT) was down 4.44% at $8.82. The stock trailed the S&P 500, which registered a daily gain of 0.38%. Meanwhile, the Dow gained 0.24%, and the Nasdaq, a tech-heavy index, added 0.24%.
The company's stock has climbed by 11.88% in the past month, exceeding the Computer and Technology sector's gain of 11.61% and the S&P 500's gain of 6.6%.
Investors will be eagerly watching for the performance of SkyWater Technology, Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.17, indicating a 950% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $57.3 million, indicating a 38.6% decline compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.01 per share and a revenue of $307.15 million, representing changes of -116.67% and -10.26%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for SkyWater Technology, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. SkyWater Technology, Inc. is holding a Zacks Rank of #1 (Strong Buy) right now.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 80, this industry ranks in the top 33% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming 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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