SkyWater Technology, Inc. (SKYT) Stock Falls Amid Market Uptick: What Investors Need to Know

SkyWater Technology, Inc. (SKYT) closed at $9.89 in the latest trading session, marking a -5.36% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.52%. Elsewhere, the Dow saw an upswing of 1%, while the tech-heavy Nasdaq appreciated by 0.52%.

The company's stock has climbed by 15.34% in the past month, exceeding the Computer and Technology sector's gain of 9.55% and the S&P 500's gain of 5.95%.

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Market participants will be closely following the financial results of SkyWater Technology, Inc. in its upcoming release. The company is expected to report EPS of -$0.17, down 950% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $57.3 million, showing a 38.6% drop compared to the year-ago quarter.

For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.01 per share and a revenue of $307.15 million, signifying shifts of -116.67% and -10.26%, respectively, from the last year.

Investors should also pay attention to any latest changes in analyst estimates for SkyWater Technology, Inc. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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, the Zacks Consensus EPS estimate remained stagnant. SkyWater Technology, Inc. presently features a Zacks Rank of #1 (Strong Buy).

The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 91, putting it in the top 37% 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.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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SkyWater Technology, Inc. (SKYT) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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