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SkyWater Technology, Inc. (SKYT) Stock Falls Amid Market Uptick: What Investors Need to Know
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SkyWater Technology, Inc. (SKYT - Free Report) closed at $11 in the latest trading session, marking a -0.45% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.16%. Meanwhile, the Dow experienced a drop of 0.37%, and the technology-dominated Nasdaq saw an increase of 0.78%.
Shares of the company witnessed a gain of 21.7% over the previous month, beating the performance of the Computer and Technology sector with its gain of 1.87% and the S&P 500's gain of 1.67%.
The investment community will be closely monitoring the performance of SkyWater Technology, Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on November 7, 2024. The company is predicted to post an EPS of -$0.02, indicating a 60% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $94.65 million, indicating a 32.16% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.10 per share and revenue of $349.35 million, indicating changes of +41.18% and +21.86%, respectively, compared to the previous year.
Any recent changes to analyst estimates for SkyWater Technology, Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 9.43% lower within the past month. SkyWater Technology, Inc. currently has a Zacks Rank of #4 (Sell).
The Electronics - Semiconductors industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 80, this industry ranks in the top 32% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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SkyWater Technology, Inc. (SKYT) Stock Falls Amid Market Uptick: What Investors Need to Know
SkyWater Technology, Inc. (SKYT - Free Report) closed at $11 in the latest trading session, marking a -0.45% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.16%. Meanwhile, the Dow experienced a drop of 0.37%, and the technology-dominated Nasdaq saw an increase of 0.78%.
Shares of the company witnessed a gain of 21.7% over the previous month, beating the performance of the Computer and Technology sector with its gain of 1.87% and the S&P 500's gain of 1.67%.
The investment community will be closely monitoring the performance of SkyWater Technology, Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on November 7, 2024. The company is predicted to post an EPS of -$0.02, indicating a 60% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $94.65 million, indicating a 32.16% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.10 per share and revenue of $349.35 million, indicating changes of +41.18% and +21.86%, respectively, compared to the previous year.
Any recent changes to analyst estimates for SkyWater Technology, Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 9.43% lower within the past month. SkyWater Technology, Inc. currently has a Zacks Rank of #4 (Sell).
The Electronics - Semiconductors industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 80, this industry ranks in the top 32% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.