SkyWater Technology (SKYT) to Release Quarterly Earnings on Wednesday

SkyWater Technology (NASDAQ:SKYT) is set to announce its earnings results after the market closes on Wednesday, August 7th. Analysts expect the company to announce earnings of ($0.10) per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

SkyWater Technology (NASDAQ:SKYT) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). SkyWater Technology had a negative return on equity of 32.59% and a negative net margin of 10.73%. The company had revenue of $79.64 million during the quarter, compared to the consensus estimate of $80.00 million. On average, analysts expect SkyWater Technology to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

SkyWater Technology Price Performance

Shares of NASDAQ:SKYT opened at $6.02 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.96 and a quick ratio of 0.86. SkyWater Technology has a 1-year low of $4.73 and a 1-year high of $12.97. The firm’s 50 day simple moving average is $7.56 and its two-hundred day simple moving average is $8.95. The company has a market capitalization of $285.05 million, a P/E ratio of -8.72 and a beta of 3.94.

Insider Activity

In other SkyWater Technology news, Director Gregory B. Graves sold 5,432 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $8.10, for a total value of $43,999.20. Following the completion of the transaction, the director now owns 14,844 shares of the company’s stock, valued at approximately $120,236.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other SkyWater Technology news, Director Gregory B. Graves sold 5,432 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $8.10, for a total value of $43,999.20. Following the sale, the director now directly owns 14,844 shares in the company, valued at $120,236.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Nancy Fares sold 8,850 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $7.97, for a total value of $70,534.50. Following the transaction, the director now directly owns 32,073 shares of the company’s stock, valued at $255,621.81. The disclosure for this sale can be found here. Insiders own 42.55% of the company’s stock.

Analyst Ratings Changes

SKYT has been the topic of a number of recent analyst reports. Craig Hallum reduced their target price on SkyWater Technology from $16.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Needham & Company LLC decreased their price target on shares of SkyWater Technology from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, May 9th.

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.