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.

Wall Street Analyst Weigh In

Separately, Piper Sandler lifted their price objective on shares of SkyWater Technology from $9.00 to $12.00 and gave the company an “overweight” rating in a report on Friday, October 25th.

SkyWater Technology Trading Down 13.8 %

Shares of SKYT stock traded down $1.44 on Friday, reaching $8.99. 1,193,431 shares of the company were exchanged, compared to its average volume of 321,550. The business has a 50-day moving average price of $9.33 and a 200 day moving average price of $8.60. The company has a quick ratio of 0.79, a current ratio of 0.90 and a debt-to-equity ratio of 0.66. SkyWater Technology has a 1 year low of $5.28 and a 1 year high of $12.97.

SkyWater Technology (NASDAQ:SKYT) last released its earnings results on Wednesday, August 7th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.12. The business had revenue of $93.33 million during the quarter, compared to analysts’ expectations of $82.50 million. SkyWater Technology had a negative net margin of 4.75% and a negative return on equity of 12.90%. On average, research analysts forecast that SkyWater Technology will post -0.29 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Loren A. Unterseher sold 2,673 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $10.00, for a total transaction of $26,730.00. Following the transaction, the director now directly owns 13,019,620 shares in the company, valued at approximately $130,196,200. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 42.55% of the stock is currently owned by company 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.