SkyWater Technology, Inc. (SKYT) Dips More Than Broader Market: What You Should Know

In the latest trading session, SkyWater Technology, Inc. (SKYT) closed at $10.45, marking a -3.95% move from the previous day. This change lagged the S&P 500's daily loss of 0.79%. Elsewhere, the Dow lost 0.94%, while the tech-heavy Nasdaq lost 0.92%. Shares of the company witnessed a gain of 20.49% over the previous month, beating the performance of the Computer and Technology sector with its gain of 7.88%, and the S&P 500's gain of 5.22%.Analysts and investors alike will be keeping a close eye on the performance of SkyWater Technology, Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.17, indicating a 950% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $57.3 million, down 38.6% from the year-ago period. For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.01 per share and a revenue of $307.15 million, signifying shifts of -116.67% and -10.26%, respectively, from the last year. Investors should also note any recent changes to analyst estimates for SkyWater Technology, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability. Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model. Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. SkyWater Technology, Inc. is currently a Zacks Rank #1 (Strong Buy). The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 143, which puts it in the bottom 43% of all 250+ industries. The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions. Should You Invest in SkyWater Technology, Inc. (SKYT)?Before you invest in SkyWater Technology, Inc. (SKYT), want to know the best stocks to buy for the next 30 days? Check out Zacks Investment Research for our free report on the 7 best stocks to buy.Zacks Investment Research has been committed to providing investors with tools and independent research since 1978. For more than a quarter century, the Zacks Rank stock-rating system has more than doubled the S&P 500 with an average gain of +24.08% per year. (These returns cover a period from January 1, 1988 through May 6, 2024.)Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SkyWater Technology, Inc. (SKYT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks