SkyWater Technology, Inc. (SKYT) closed the most recent trading day at $31.16, moving -2.07% from the previous trading session. This move lagged the S&P 500's daily loss of 0.49%. At the same time, the Dow lost 0.05%, and the tech-heavy Nasdaq lost 0.9%.
The company's shares have seen an increase of 21.54% over the last month, not keeping up with the Computer and Technology sector's gain of 21.92% and outstripping the S&P 500's gain of 12.8%.
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 expected to report EPS of -$0.08, unchanged from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $147 million, showing a 139.8% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.26 per share and a revenue of $605 million, signifying shifts of -2700% and +36.83%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for SkyWater Technology, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. SkyWater Technology, Inc. currently has a Zacks Rank of #3 (Hold).
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 94, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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SkyWater Technology, Inc. (SKYT): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).