SkyWater Technology (SKYT) Set to Announce Quarterly Earnings on Wednesday

SkyWater Technology (NASDAQ:SKYT) is scheduled to 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. Parties that are interested in registering for the company’s conference call can do so using this link.

SkyWater Technology (NASDAQ:SKYT) last posted its quarterly earnings results on Monday, February 26th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.12. The firm had revenue of $79.15 million during the quarter, compared to the consensus estimate of $74.90 million. SkyWater Technology had a negative net margin of 10.73% and a negative return on equity of 30.58%. 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 Stock Up 1.5 %

Shares of NASDAQ SKYT opened at $10.38 on Tuesday. The stock has a 50 day moving average price of $10.24 and a 200 day moving average price of $8.75. The firm has a market capitalization of $491.37 million, a price-to-earnings ratio of -15.49 and a beta of 4.18. SkyWater Technology has a 52-week low of $4.73 and a 52-week high of $12.97. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.91 and a current ratio of 1.02.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Piper Sandler upped their target price on SkyWater Technology from $9.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Needham & Company LLC upped their price objective on shares of SkyWater Technology from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Finally, TD Cowen raised their target price on shares of SkyWater Technology from $12.00 to $15.00 and gave the company an “outperform” rating in a research report on Tuesday, February 27th.

Insider Buying and Selling at SkyWater Technology

In related news, CEO Thomas Sonderman sold 18,989 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $10.01, for a total transaction 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 approximately $4,989,114.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Loren A. Unterseher sold 10,520 shares of SkyWater Technology stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $11.50, for a total value of $120,980.00. Following the transaction, the director now owns 13,441,773 shares of the company’s stock, valued at approximately $154,580,389.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Thomas Sonderman sold 18,989 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $10.01, for a total transaction of $190,079.89. Following the sale, the chief executive officer now directly owns 498,413 shares of the company’s stock, valued at approximately $4,989,114.13. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 398,218 shares of company stock valued at $4,787,187. 42.55% of the stock is currently owned by corporate insiders.

About SkyWater Technology

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.