SkyWater Technology (NASDAQ:SKYT) Updates Q4 2024 Earnings Guidance

SkyWater Technology (NASDAQ:SKYT) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of -0.100–0.040 for the period. The company issued revenue guidance of $72.0 million-$76.0 million, compared to the consensus revenue estimate of $80.0 million.

Analysts Set New Price Targets

Separately, Piper Sandler raised their price target on SkyWater Technology from $9.00 to $12.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th.

SkyWater Technology Trading Down 13.8 %

SkyWater Technology stock traded down $1.44 on Friday, hitting $8.99. 1,193,431 shares of the stock traded hands, compared to its average volume of 321,550. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.79 and a current ratio of 0.90. The business’s fifty day simple moving average is $9.33 and its 200 day simple moving average is $8.60. SkyWater Technology has a 1 year low of $5.28 and a 1 year high of $12.97.

SkyWater Technology (NASDAQ:SKYT) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.12. The business had revenue of $93.33 million during the quarter, compared to analyst estimates of $82.50 million. SkyWater Technology had a negative return on equity of 12.90% and a negative net margin of 4.75%. Research analysts expect that SkyWater Technology will post -0.29 EPS for the current year.

Insider Buying and Selling at SkyWater Technology

In other news, Director Loren A. Unterseher sold 2,673 shares of SkyWater Technology stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $10.00, for a total value of $26,730.00. Following the completion of the transaction, the director now owns 13,019,620 shares of the company’s stock, valued at $130,196,200. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 42.55% of the company’s stock.

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.