SkyWater Technology (SKYT) is set to post earnings on Monday

SkyWater Technology (NASDAQ:SKYT – Get Rating) will release its earnings data after the market close on Monday, November 7th. Analysts expect SkyWater Technology to report earnings per share of ($0.26) for the quarter. Individuals interested in registering for the Company’s earnings conference call can do so through this link.

SkyWater Technology (NASDAQ:SKYT – Get Rating) last released its quarterly earnings data on Monday, August 15th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.04. The company had revenue of $47.41 million for the quarter, compared to analyst estimates of $44.05 million. SkyWater Technology had a negative net margin of 41.71% and a negative return on equity of 99.57%. On average, analysts expect SkyWater Technology to post fiscal year-to-date EPS of -$1 and next fiscal year EPS of -$1.

Trade in SkyWater technology up 3.6%

NASDAQ:SKYT opened at $8.16 on Monday. The company has a gearing ratio of 2.05, a quick ratio of 1.05 and a current ratio of 1.23. The company has a market cap of $330.11 million, a price to earnings ratio of -4.56 and a beta of 5.39. SkyWater Technology has a 52-week low of $4.43 and a 52-week high of $35.90. The company has a 50-day moving average price of $9.50 and a 200-day moving average price of $9.06.

Insider Transactions at SkyWater Technology

In other news, insider Bradley Ferguson sold 76,789 shares of the company’s stock in a transaction that took place on Friday, September 9th. The shares were sold at an average price of $11.52 for a total transaction of $884,609.28. Upon completion of the sale, the insider now owns 470,971 shares of the company’s stock, valued at approximately $5,425,585.92. The sale was disclosed in a document filed with the SEC, which is available on the SEC’s website. In related news, insider Bradley Ferguson sold 76,789 shares of the company’s stock in a transaction that took place on Friday, September 9th. The shares sold at an average price of $11.52 for a total value of $884,609.28. Upon closing of the transaction, the insider now directly owns 470,971 shares of the company’s stock valued at approximately $5,425,585.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed at this link. In addition, Director Loren A. Unterseher sold 29,794 shares of the company’s stock in a transaction that took place on Monday, September 12. The stock sold at an average price of $11.18 for a total transaction of $333,096.92. Upon completion of the transaction, the Director now directly owns 22,230,530 shares of the Company, valued at $248,537,325.40. The disclosure for this sale can be found here. Insiders sold a total of 353,718 shares of the company’s shares worth $3,839,189 last quarter. Insiders own 72.80% of the company’s shares.

Institutional inflows and outflows

Several major investors have recently bought and sold shares in the company. Goldman Sachs Group Inc. bought a new $83,000 position in SkyWater Technology during the second quarter. Occudo Quantitative Strategies LP bought a new position in SkyWater Technology valued at $133,000 during the second quarter. American International Group Inc. increased its stake in SkyWater Technology by 26.2% in the second quarter. American International Group Inc. now owns 5,061 shares of the company’s stock valued at $30,000 after purchasing an additional 1,051 shares during the period. Northern Trust Corp increased its stake in SkyWater Technology by 18.2% in the second quarter. Northern Trust Corp now owns 86,415 shares of the company’s stock valued at $520,000, having purchased an additional 13,322 shares during the period. Finally, LPL Financial LLC bought a new position in SkyWater Technology valued at $204,000 during the second quarter. 10.18% of the shares are owned by institutional investors.

Analyst upgrades and downgrades

Several research companies have commented on SKYT. Cowen raised his target price on shares of SkyWater Technology from $12.00 to $20.00 and gave the company a “Outperform” rating in a research note on Tuesday, August 16. Craig Hallum increased his price target for shares of SkyWater Technology from $10.00 to $18.00 in a research note on Tuesday, August 16. Cowen raised his target price on shares of SkyWater Technology from $12.00 to $20.00 and gave the company a “Outperform” rating in a research note on Tuesday, August 16. Piper Sandler raised his price target on shares of SkyWater Technology to $18.00 from $10.00 and rated the company as “overweight” in a research note on Monday, August 15. Finally, Needham & Company LLC increased its price target on shares of SkyWater Technology to $20.00 from $15.00 and issued a buy rating to the stock in a research note on Tuesday, August 16. Five analysts have given the stock a buy rating. According to MarketBeat.com, SkyWater Technology has an average rating of “buy” and a consensus price target of $19.20.

Company profile of SkyWater Technology

(received rating)

SkyWater Technology, Inc, together with its subsidiaries, provides semiconductor design and manufacturing services. The Company provides engineering and process development support services to co-develop technologies with customers; and semiconductor manufacturing services for a variety of silicon-based analog and mixed-signal, power-discrete, microelectromechanical systems, and radiation-hard integrated circuits.

Selected Stories

Earnings History for SkyWater Technology (NASDAQ:SKYT)

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