SkyWater Technology (SKYT) Set to Announce Earnings on Thursday

SkyWater Technology (NASDAQ:SKYT - Get Free Report) is scheduled to be announcing its earnings results after the market closes on Thursday, November 7th. Analysts expect the company to announce earnings of ($0.02) per share for the quarter. Investors interested in participating in the company's conference call can do so using this link.

SkyWater Technology (NASDAQ:SKYT - Get Free Report) last posted its quarterly 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. The business had revenue of $93.33 million during the quarter, compared to analysts' expectations of $82.50 million. SkyWater Technology had a negative net margin of 7.88% and a negative return on equity of 21.68%. On average, analysts expect SkyWater Technology to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

SkyWater Technology Stock Down 6.6 %

Shares of SKYT stock traded down $0.69 during trading on Thursday, hitting $9.81. 359,866 shares of the company were exchanged, compared to its average volume of 394,200. 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 firm has a market capitalization of $465.77 million, a price-to-earnings ratio of -18.17 and a beta of 3.95. The business's 50-day simple moving average is $9.27 and its 200 day simple moving average is $8.56. SkyWater Technology has a twelve month low of $4.73 and a twelve month high of $12.97.

Insider Buying and Selling at SkyWater Technology

In other SkyWater Technology news, Director Loren A. Unterseher sold 2,673 shares of SkyWater Technology stock in a transaction that occurred 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 sale, the director now directly owns 13,019,620 shares in the company, valued at $130,196,200. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 42.55% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler raised their price target on shares of SkyWater Technology from $9.00 to $12.00 and gave the stock an "overweight" rating in a report on Friday, October 25th.

About SkyWater Technology

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.