SkyWater Technology, Inc. (SKYT) closed the latest trading day at $7.08, indicating a +0.28% change from the previous session's end. The stock trailed the S&P 500, which registered a daily gain of 0.55%. Meanwhile, the Dow experienced a rise of 1.01%, and the technology-dominated Nasdaq saw a decrease of 0.14%.

Shares of the company witnessed a loss of 24.33% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 8.88% and the S&P 500's loss of 6.22%.

Analysts and investors alike will be keeping a close eye on the performance of SkyWater Technology, Inc. in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$0.13, showcasing a 62.5% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $61.05 million, down 23.34% from the year-ago period.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.07 per share and revenue of $309.2 million, indicating changes of -216.67% and -9.66%, respectively, compared to the previous year.

Investors should also pay attention to any latest changes in analyst estimates for SkyWater Technology, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, SkyWater Technology, Inc. boasts a Zacks Rank of #1 (Strong Buy).

The Electronics - Semiconductors industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 57, placing it within the top 23% of over 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.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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SkyWater Technology, Inc. (SKYT) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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