SkyWater Technology (NASDAQ:SKYT – Get Free Report) 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.
Analyst Upgrades and Downgrades
Separately, Piper Sandler upped their price objective 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.
Check Out Our Latest Stock Analysis on SkyWater Technology
SkyWater Technology Stock Performance
SkyWater Technology (NASDAQ:SKYT – Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.12. The firm had revenue of $93.33 million for the quarter, compared to the consensus estimate of $82.50 million. SkyWater Technology had a negative return on equity of 12.90% and a negative net margin of 4.75%. Equities analysts forecast that SkyWater Technology will post -0.29 EPS for the current year.
Insider Activity at SkyWater Technology
In related 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 value of $26,730.00. Following the transaction, the director now owns 13,019,620 shares in the company, valued at approximately $130,196,200. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 42.55% of the stock is owned by company insiders.
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.
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