In the latest trading session, SkyWater Technology, Inc. (SKYT) closed at $35.82, marking a +2.64% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.77%. Meanwhile, the Dow gained 0.75%, and the Nasdaq, a tech-heavy index, added 0.88%.
The company's shares have seen an increase of 8.25% over the last month, not keeping up with the Computer and Technology sector's gain of 16.9% and outstripping the S&P 500's gain of 8.15%.
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 forecasted to report an EPS of -$0.08, showcasing no movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $147 million, showing a 139.8% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.26 per share and revenue of $605 million, indicating changes of -2700% and +36.83%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for SkyWater Technology, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. SkyWater Technology, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Electronics - Semiconductors industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 49, placing it within the top 21% of over 250 industries.
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.
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).