Should you buy Skywater stock at $26 to $28?
Piper Sandler analyst Harsh Kumar reiterated an overweight rating on SkyWater shares while increasing the firm's price target from $26 to $28. This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service.
How did Skywater's IPO perform in the second quarter?
SkyWater completed its IPO during the quarter, raising $112 million in capital. Image source: Getty Images. "SkyWater accomplished much in the second quarter, including our initial public offering," CFO Steve Manko commented in a release. "This achievement is a great testament to our team members, customers and partners."
What is Skywater?
US-owned and US-based SkyWater is a pure play semiconductor foundry. SKYT also offers custom technology development services, volume manufacturing and advanced packaging capabilities, making them a DOD-certified trusted supplier.
How much did Skywater make in 2021?
BLOOMINGTON, Minn., February 22, 2022--SkyWater reports Q4 and full year 2021 financial results with record 2021 revenue of $162.8 Million. © 2022 Yahoo.
Is SkyWater Technology a good investment?
SkyWater Technology has received a consensus rating of Buy. The company's average rating score is 2.75, and is based on 3 buy ratings, 1 hold rating, and no sell ratings.
Is Skyt a good investment?
SkyWater Technology has 51.06% upside potential, based on the analysts' average price target. Can I see which stocks the top-ranking analysts are rating? Yes, go to the Analysts' Top Stocks tool to see stocks with a Strong Buy or Strong Sell analyst rating consensus, according to the top performers.
Who owns SkyWater technologies?
Oxbow IndustriesThe company was formed in 2017, when private equity firm Oxbow Industries acquired Cypress Foundry Solutions, a microelectronics fabricator that was previously a subsidiary of California-based Cypress Semiconductor Corp.
How many employees does SkyWater Technology have?
450 totalSkywater Technology Foundry, Inc. has 450 total employees across all of its locations and generates $128.70 million in sales (USD).
Is SkyWater technology publicly traded?
The company has come to existence in its current form after Cypress divested these operations in 2017, what now has become SkyWater and went public in April 2021. Management and underwriters sold 7 million shares at $14 per share, at the higher end of the preliminary price range.
What does skywater technology do?
SkyWater's Advanced Technology Services empower development of superconducting and 3D ICs, along with carbon nanotube, photonic and MEMS devices. The company serves customers in growing markets such as aerospace & defense, automotive, biomedical, cloud & computing, consumer, industrial, and IoT.
What is sky water?
Skywater Advanced Air-to-Water Technology® Skywater® replicates this natural process of condensation by simulating the dew point, which allows it to make water continuously, even in low humidity conditions.
Is Texas Instruments a fabless?
Examples of IDMs are Intel, Samsung, and Texas Instruments, examples of fabless companies are AMD, Nvidia, and Qualcomm, and examples of pure play foundries are GlobalFoundries, TSMC, and UMC. Integrated circuit production facilities are expensive to build and maintain.
The semiconductor company reported disappointing preliminary results but is preparing to invest in manufacturing capacity
Evan is a Senior Technology Analyst at The Motley Fool. He was previously a Senior Trading Specialist at Charles Schwab, and worked briefly at Tesla. Evan graduated from the University of Texas at Austin, and is a CFA charterholder.
What happened
Shares of SkyWater Technology ( NASDAQ:SKYT) have gotten destroyed today, down by 40% as of 11:10 a.m. EDT, after the company reported preliminary second-quarter results. SkyWater is also planning to invest in capacity expansion.
So what
Revenue in the second quarter is estimated to be in the range of $41 million to $41.5 million, while analysts were expecting the semiconductor company to generate $50 million in sales. That should result in a net loss of $7 million to $8 million, with an adjusted EBITDA loss of $500,000 to $1.5 million.
Now what
SkyWater is planning to invest $56 million in order to expand manufacturing capacity of its gallium nitride (GaN) technology.
What happened
Shares of SkyWater Technology (NASDAQ: SKYT) have gotten destroyed today, down by 40% as of 11:10 a.m. EDT, after the company reported preliminary second-quarter results. SkyWater is also planning to invest in capacity expansion.
So what
Revenue in the second quarter is estimated to be in the range of $41 million to $41.5 million, while analysts were expecting the semiconductor company to generate $50 million in sales. That should result in a net loss of $7 million to $8 million, with an adjusted EBITDA loss of $500,000 to $1.5 million.
Now what
SkyWater is planning to invest $56 million in order to expand manufacturing capacity of its gallium nitride (GaN) technology.
How much has SKYT Stock approved for the investment?
US-owned and US-based SkyWater is a pure play semiconductor foundry. SKYT also offers custom technology development services, volume manufacturing and advanced packaging capabilities, making them a DOD-certified trusted supplier.
SKYT also shared preliminary results
SKYT also announced selected preliminary financial results for the second quarter ended July 4, 2021 in connection with its earnings webcast to be held on August 4, 2021.
What SKYT has achieved in the current quarter?
SkyWater (SKYT) completed a number of milestones in its second quarter, including its initial public offering. It is a great tribute to the team members, customers, and partners of the organization as SKYT was able to achieve significant sales growth despite all of this.
Who is the CHRO of Skywater?
SkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner, today announced the appointment of Ms. Amanda Daniel as the company’s first Chief Human Resources Officer (CHRO). SkyWater’s growth strategy depends on attracting and retaining top talent. Amanda has a proven track record of working in complex high-tech organizations, driving all aspects of human resource strategy and execution. In the CHRO role at SkyWater, she will craft talent acquisition strategies to build stron
What is SkyT technology?
SkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner and only U.S. investor-owned, pure-play foundry, today applauded the U.S. Senate on its overwhelming bipartisan passage of the U.S. Innovation and Competition Act.
About SkyWater Technology Inc
Skywater Technology, Inc. is a holding company. Through its subsidiaries, it offers wafer services through the development of process technology IP. The company was founded on October 3, 2016 and is headquartered in Bloomington, MN.
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SkyWater Technology Inc News
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