SkyWater Technology, Inc. (NASDAQ:SKYT – Get Rating) – Equities research analysts at Jefferies Financial Group decreased their Q2 2022 EPS estimates for SkyWater Technology in a research note issued on Wednesday, May 4th. Jefferies Financial Group analyst M. Lipacis now anticipates that the company will post earnings of ($0.36) per share for the quarter, down from their previous forecast of ($0.33). Jefferies Financial Group also issued estimates for SkyWater Technology’s Q3 2022 earnings at ($0.33) EPS, Q4 2022 earnings at ($0.24) EPS, FY2022 earnings at ($1.33) EPS, Q1 2023 earnings at ($0.26) EPS, Q2 2023 earnings at ($0.26) EPS, Q3 2023 earnings at ($0.25) EPS, Q4 2023 earnings at ($0.24) EPS and FY2023 earnings at ($1.01) EPS.
SkyWater Technology (NASDAQ:SKYT – Get Rating) last posted its earnings results on Tuesday, February 22nd. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.07. SkyWater Technology had a negative net margin of 39.60% and a negative return on equity of 70.23%. The firm had revenue of $38.53 million during the quarter, compared to analyst estimates of $36.10 million.
Other equities research analysts have also recently issued research reports about the stock. Craig Hallum initiated coverage on shares of SkyWater Technology in a research note on Tuesday, April 26th. They issued a “buy” rating and a $10.00 price target on the stock. Needham & Company LLC lowered their target price on shares of SkyWater Technology from $25.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, February 24th. Cowen lowered their target price on shares of SkyWater Technology from $25.00 to $20.00 in a research note on Thursday, February 24th. Finally, Piper Sandler lowered their target price on shares of SkyWater Technology from $15.00 to $10.00 in a research note on Wednesday, May 4th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $15.60.
SkyWater Technology stock opened at $6.10 on Monday. The company has a fifty day moving average of $8.97. SkyWater Technology has a 1 year low of $5.77 and a 1 year high of $36.80. The firm has a market cap of $243.42 million and a PE ratio of -3.65. The company has a quick ratio of 1.19, a current ratio of 1.56 and a debt-to-equity ratio of 0.97.
A number of large investors have recently modified their holdings of the business. BlackRock Inc. increased its stake in SkyWater Technology by 11.1% during the fourth quarter. BlackRock Inc. now owns 1,404,107 shares of the company’s stock worth $22,775,000 after purchasing an additional 140,332 shares during the period. Emerald Advisers LLC grew its position in shares of SkyWater Technology by 15.2% during the first quarter. Emerald Advisers LLC now owns 998,983 shares of the company’s stock worth $10,819,000 after buying an additional 131,472 shares in the last quarter. Macquarie Group Ltd. grew its position in shares of SkyWater Technology by 2.6% during the third quarter. Macquarie Group Ltd. now owns 919,025 shares of the company’s stock worth $24,997,000 after buying an additional 23,134 shares in the last quarter. Emerald Mutual Fund Advisers Trust grew its position in shares of SkyWater Technology by 46.7% during the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 890,876 shares of the company’s stock worth $14,450,000 after buying an additional 283,753 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of SkyWater Technology during the fourth quarter worth about $6,968,000. Institutional investors own 17.24% of the company’s stock.
In related news, CFO Steve Manko sold 25,200 shares of the business’s stock in a transaction dated Tuesday, March 8th. The shares were sold at an average price of $10.25, for a total value of $258,300.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
SkyWater Technology Company Profile (Get Rating)
SkyWater Technology, Inc, together with its subsidiaries, provides semiconductor development and manufacturing services. 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, power discrete, microelectromechanical systems, and rad-hard integrated circuits.
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