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

SkyWater Technology (NASDAQ:SKYT) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided earnings per share 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 Stock Performance

Shares of NASDAQ SKYT traded up $0.54 during trading on Thursday, reaching $10.43. 571,018 shares of the company traded hands, compared to its average volume of 393,814. The stock has a market cap of $495.21 million, a P/E ratio of -18.67 and a beta of 3.92. The firm’s fifty day simple moving average is $9.30 and its 200 day simple moving average is $8.59. The company has a current ratio of 0.90, a quick ratio of 0.79 and a debt-to-equity ratio of 0.66. SkyWater Technology has a 12-month low of $5.23 and a 12-month high of $12.97.

SkyWater Technology (NASDAQ:SKYT) last posted its earnings results on Wednesday, August 7th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.12. SkyWater Technology had a negative return on equity of 21.68% and a negative net margin of 7.88%. The firm had revenue of $93.33 million for the quarter, compared to analyst estimates of $82.50 million. As a group, research analysts anticipate that SkyWater Technology will post -0.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insider Transactions at SkyWater Technology

In other news, Director Loren A. Unterseher sold 2,673 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $10.00, for a total transaction of $26,730.00. Following the completion of the transaction, the director now directly owns 13,019,620 shares of the company’s stock, valued at $130,196,200. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate 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.