SkyWater Technology, Inc. (SKYT) closed the most recent trading day at $32.89, moving +1.11% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.2%. Meanwhile, the Dow experienced a rise of 1.79%, and the technology-dominated Nasdaq saw an increase of 1.52%.
The company's stock has climbed by 17.48% in the past month, exceeding the Computer and Technology sector's gain of 8.24% and the S&P 500's gain of 5.15%.
The investment community will be paying close attention to the earnings performance of SkyWater Technology, Inc. in its upcoming release. The company is forecasted to report an EPS of -$0.08, showcasing no movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $147 million, indicating a 139.8% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.26 per share and revenue of $605 million, which would represent changes of -2700% and +36.83%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for SkyWater Technology, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, SkyWater Technology, Inc. possesses a Zacks Rank of #5 (Strong Sell).
The Electronics - Semiconductors industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 83, this industry ranks in the top 35% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
#1 Semiconductor Stock to Buy (Not NVDA)
The incredible demand for data is fueling the market's next digital gold rush. As data centers continue to be built and constantly upgraded, the companies that provide the hardware for these behemoths will become the NVIDIAs of tomorrow.
One under-the-radar chipmaker is uniquely positioned to take advantage of the next growth stage of this market. It specializes in semiconductor products that titans like NVIDIA don't build. It's just beginning to enter the spotlight, which is exactly where you want to be.
See This Stock Now for Free >>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 Report
This article originally published on Zacks Investment Research (zacks.com).