SkyWater Technology (SKYT) Scheduled to Post Earnings on Wednesday

SkyWater Technology (NASDAQ:SKYT) will be announcing its earnings results after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of ($0.05) per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

SkyWater Technology (NASDAQ:SKYT) last posted its earnings results on Monday, February 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.12. SkyWater Technology had a negative net margin of 10.73% and a negative return on equity of 30.58%. The business had revenue of $79.15 million for 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

NASDAQ:SKYT opened at $10.23 on Monday. The company has a quick ratio of 0.91, a current ratio of 1.02 and a debt-to-equity ratio of 0.59. SkyWater Technology has a 52 week low of $4.73 and a 52 week high of $12.97. The stock’s 50-day moving average price is $10.24 and its 200-day moving average price is $8.75. The stock has a market capitalization of $484.29 million, a PE ratio of -15.27 and a beta of 4.18.

Analysts Set New Price Targets

Several brokerages recently weighed in on SKYT. Needham & Company LLC lifted their price target on SkyWater Technology from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Piper Sandler lifted their price target on SkyWater Technology from $9.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. Finally, TD Cowen lifted their price target on SkyWater Technology from $12.00 to $15.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th.

Insiders Place Their Bets

In other SkyWater Technology news, Director Loren A. Unterseher sold 368,709 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $12.14, for a total transaction of $4,476,127.26. Following the completion of the sale, the director now directly owns 13,022,293 shares in the company, valued at approximately $158,090,637.02. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Thomas Sonderman sold 18,989 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $10.01, for a total value of $190,079.89. Following the completion of the sale, the chief executive officer now directly owns 498,413 shares in the company, valued at $4,989,114.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Loren A. Unterseher sold 368,709 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 13,022,293 shares of the company’s stock, valued at $158,090,637.02. The disclosure for this sale can be found here. In the last three months, insiders sold 398,218 shares of company stock worth $4,787,187. Corporate insiders own 42.55% of the company’s stock.

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.