SkyWater Technology (NASDAQ:SKYT – Get Free Report) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) 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.
Analysts Set New Price Targets
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 research report on Friday, October 25th.
Get Our Latest Stock Report on SKYT
SkyWater Technology Price Performance
SkyWater Technology (NASDAQ:SKYT – Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.12. SkyWater Technology had a negative net margin of 4.75% and a negative return on equity of 12.90%. The business had revenue of $93.33 million for the quarter, compared to analysts’ expectations of $82.50 million. Research analysts predict that SkyWater Technology will post -0.29 EPS for the current fiscal year.
Insider Buying and Selling at SkyWater Technology
In other news, Director Loren A. Unterseher sold 2,673 shares of the firm’s 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 transaction, the director now owns 13,019,620 shares in the company, valued at approximately $130,196,200. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 42.55% of the company’s stock.
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.
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