Skywater Technology is a semiconductor company located in Minnesota, United States, which is part of the Technology sector, and is traded under the ticker SKYT on the NASDAQ exchange.
Skywater Technology stock last closed at $7.31, down 4.82% from the previous day, and has decreased 76.33% in one year. It has underperformed other stocks in the Semiconductors industry by 0.46 percentage points. Skywater Technology stock is currently +65.01% from its 52-week low of $4.43, and -79.64% from its 52-week high of $35.90.
At the moment, there are 40.45M SKYT shares outstanding. The market value of SKYT is $295.72M. In the last 24 hours, 281,870 SKYT shares were traded.
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Out of 4 Equities analysts who monitor SKYT, the consensus analyst rating on SKYT is a Strong Buy
Krish Sankar, a top 13% analyst from Cowen & Co. maintains SKYT with a buy rating and raises their SKYT price target from $12.00 to $20.00, on Aug 16, 2022.
Harsh Kumar, a top 16% analyst from Piper Sandler maintains SKYT with a strong buy rating and raises their SKYT price target from $10.00 to $18.00, on Aug 16, 2022.
Kumar raised his price target on SkyWater Technology, Inc. by 80% following the release of the company's Q2 2022 earnings report on 2022/08/15.
Q2's results were "solid" according to the analyst, attributable to "better than expected revenues and ongoing gross margin expansion."
Kumar also noted SkyWater is positioned to potentially leverage the recently-passed CHIPS Act*.
In fact, "the legislation is already having a positive impact on customer conversations across several of the company's end markets," the analyst reported.
* From here: The Chips Act is intended to counter China’s high-tech rise by shoring up US competitiveness. The spending bill paves the way for US$280 billion in funding for science and technology, roughly US$52 billion of which is earmarked for boosting US semiconductor production.
"The funds and tax breaks in place are meant to help lower the cost gap for building in the US and compete with foreign subsidies so that the semiconductor industry can thrive in America.
"The US government is also expected to coordinate with allies that are also chip-making countries to avoid damaging subsidy competitions."
Interested investors can find additional analysis of the impact of the Chips Act here.
For Q2 2022, SkyWater Technology reported:
Management did not provide financial guidance in its press release.
President & CEO Thomas Sonderman commented: "We are pleased to report increasing momentum toward our margin expansion and profitability objectives.
“For 2022, our performance year to date and expected second-half revenue ramp in multiple programs provides increasing confidence that we will achieve growth this year approaching our long-term annual target of 25%.”
Rajvindra Gill, a top 5% analyst from Needham maintains SKYT with a buy rating and raises their SKYT price target from $15.00 to $20.00, on Aug 16, 2022.
Richard Shannon, a bottom 27% analyst from Craig-Hallum initiates coverage on SKYT with a buy rating and announces their SKYT price target of $10.00, on Apr 26, 2022.
You can dig deeper into what analysts are projecting on the Skywater Technology stock forecast page.
Last year, SKYT revenue was $169.09M. Over the past one years, SKYT's revenue has increased by 4.33% per year. This was slower than the Semiconductors industry average of 16.87%.
Learn more about SKYT's earnings and revenue performance here.
Over the last year, insiders at SKYT have sold more shares than they have bought.
Cmi Oxbow Partners LLC, Director of SKYT, was the latest SKYT insider to sell. They sold $763,159.78 worth of SKYT shares on Sep 16, 2022.
Learn more about who owns SKYT shares here.
No, Skywater Technology doesn't provide an income stream by paying out dividends.
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