SkyWater Technology, Inc. (SKYT) closed at $7.85 in the latest trading session, marking a -0.25% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.08%. Meanwhile, the Dow experienced a rise of 0.08%, and the technology-dominated Nasdaq saw an increase of 0.52%.

The the stock of company has fallen by 24.25% in the past month, lagging the Computer and Technology sector's loss of 12.04% and the S&P 500's loss of 7.33%.

The investment community will be closely monitoring the performance of SkyWater Technology, Inc. in its forthcoming earnings report. 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. Meanwhile, our latest consensus estimate is calling for revenue of $61.05 million, down 23.34% from the prior-year quarter.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.07 per share and a revenue of $309.2 million, representing changes of -216.67% and -9.66%, respectively, from the prior year.

It is also important to note the 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 company's business performance and profit potential.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 8.62% higher. SkyWater Technology, Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).

The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 78, finds itself in the top 32% echelons 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming 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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