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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 $36.57, moving +1.67% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 1.09%. At the same time, the Dow added 0.14%, and the tech-heavy Nasdaq gained 1.91%.
Shares of the company witnessed a gain of 2.39% over the previous month, beating the performance of the Computer and Technology sector with its gain of 0.22%, and the S&P 500's gain of 0.29%.
Market participants will be closely following the financial results of SkyWater Technology, Inc. in its upcoming release. The company is predicted to post an EPS of -$0.07, indicating a 36.36% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $148 million, indicating a 150.59% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.26 per share and a revenue of $605 million, demonstrating changes of -2700% and +36.83%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for SkyWater Technology, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. SkyWater Technology, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 58, putting it in the top 24% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on 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 $36.57, moving +1.67% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 1.09%. At the same time, the Dow added 0.14%, and the tech-heavy Nasdaq gained 1.91%.
Shares of the company witnessed a gain of 2.39% over the previous month, beating the performance of the Computer and Technology sector with its gain of 0.22%, and the S&P 500's gain of 0.29%.
Market participants will be closely following the financial results of SkyWater Technology, Inc. in its upcoming release. The company is predicted to post an EPS of -$0.07, indicating a 36.36% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $148 million, indicating a 150.59% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.26 per share and a revenue of $605 million, demonstrating changes of -2700% and +36.83%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for SkyWater Technology, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. SkyWater Technology, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 58, putting it in the top 24% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.