SkyWater Technology (SKYT) to Release Earnings on Wednesday

SkyWater Technology (NASDAQ:SKYT) is scheduled to post its quarterly earnings results after the market closes on Wednesday, May 8th. Analysts expect SkyWater Technology to post earnings of ($0.05) per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

SkyWater Technology (NASDAQ:SKYT) last released its earnings results on Monday, February 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.12. SkyWater Technology had a negative return on equity of 30.58% and a negative net margin of 10.73%. The company had revenue of $79.15 million during the quarter, compared to analyst estimates of $74.90 million. On average, analysts expect SkyWater Technology to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

SkyWater Technology Price Performance

SkyWater Technology stock opened at $10.23 on Monday. SkyWater Technology has a 12 month low of $4.73 and a 12 month high of $12.97. The company has a current ratio of 1.02, a quick ratio of 0.91 and a debt-to-equity ratio of 0.59. The business’s 50 day simple moving average is $10.24 and its 200 day simple moving average is $8.75. The company has a market cap of $484.29 million, a price-to-earnings ratio of -15.27 and a beta of 4.18.

Insider Transactions at SkyWater Technology

In other news, Director Loren A. Unterseher sold 368,709 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $12.14, for a total value of $4,476,127.26. Following the transaction, the director now owns 13,022,293 shares of the company’s stock, valued at $158,090,637.02. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Loren A. Unterseher sold 10,520 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $11.50, for a total value of $120,980.00. Following the transaction, the director now owns 13,441,773 shares of the company’s stock, valued at $154,580,389.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Loren A. Unterseher sold 368,709 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $12.14, for a total value of $4,476,127.26. Following the completion of the transaction, the director now directly owns 13,022,293 shares in the company, valued at approximately $158,090,637.02. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 398,218 shares of company stock valued at $4,787,187. 42.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SKYT shares. Needham & Company LLC increased their target price on SkyWater Technology from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Piper Sandler increased their target price on SkyWater Technology from $9.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Finally, TD Cowen increased their target price on SkyWater Technology from $12.00 to $15.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th.

SkyWater Technology Company Profile

SkyWater Technology, Inc, together with its subsidiaries, operates as a pure-play technology foundry that engages in the provision of semiconductor development, manufacturing, and packaging services in the United States. The company offers engineering and process development support services to co-create technologies with customers; and semiconductor manufacturing services for various silicon-based analog and mixed-signal, micro-electromechanical systems, and rad-hard integrated circuits.