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Why SkyWater Technology, Inc. (SKYT) Outpaced the Stock Market Today
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SkyWater Technology, Inc. (SKYT - Free Report) closed the most recent trading day at $35.85, moving +2.87% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 1.75% for the day. On the other hand, the Dow registered a gain of 1.86%, and the technology-centric Nasdaq increased by 2.54%.
The company's shares have seen a decrease of 0.14% over the last month, surpassing the Computer and Technology sector's loss of 3.11% and the S&P 500's loss of 1.63%.
Market participants will be closely following the financial results of SkyWater Technology, Inc. in its upcoming release. It is anticipated that the company will report an EPS of -$0.07, marking a 36.36% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $148 million, showing a 150.59% 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.
It is also important to note the recent changes to analyst estimates for SkyWater Technology, Inc. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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. 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 50, which puts it in the top 21% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SKYT in the coming trading sessions, be sure to utilize Zacks.com.
View the Zacks #1 Rank List
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Why SkyWater Technology, Inc. (SKYT) Outpaced the Stock Market Today
SkyWater Technology, Inc. (SKYT - Free Report) closed the most recent trading day at $35.85, moving +2.87% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 1.75% for the day. On the other hand, the Dow registered a gain of 1.86%, and the technology-centric Nasdaq increased by 2.54%.
The company's shares have seen a decrease of 0.14% over the last month, surpassing the Computer and Technology sector's loss of 3.11% and the S&P 500's loss of 1.63%.
Market participants will be closely following the financial results of SkyWater Technology, Inc. in its upcoming release. It is anticipated that the company will report an EPS of -$0.07, marking a 36.36% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $148 million, showing a 150.59% 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.
It is also important to note the recent changes to analyst estimates for SkyWater Technology, Inc. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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. 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 50, which puts it in the top 21% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SKYT in the coming trading sessions, be sure to utilize Zacks.com.