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

SkyWater Technology (NASDAQ:SKYT) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) 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.

SkyWater Technology Price Performance

NASDAQ:SKYT traded down $1.44 on Friday, hitting $8.99. The stock had a trading volume of 1,193,431 shares, 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 company has a fifty day moving average price of $9.33 and a two-hundred day moving average price of $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 posted its earnings results on Wednesday, August 7th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.12. The company had revenue of $93.33 million for the quarter, compared to analyst estimates of $82.50 million. SkyWater Technology had a negative net margin of 4.75% and a negative return on equity of 12.90%. As a group, equities research analysts predict that SkyWater Technology will post -0.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at SkyWater Technology

In other news, Director Loren A. Unterseher sold 2,673 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were 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 in the company, valued at approximately $130,196,200. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 42.55% of the company’s stock.

SkyWater Technology Company Profile

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.