SkyWater Technology Shares Buoyed By Better-Than-Expected 4Q Earnings, Manufacturing Deal

Dow Jones
27 Feb

By Connor Hart

Shares of SkyWater Technology rose after the company narrowed its loss and beat estimates in the fourth quarter.

The stock gained 15%, to $10.15, in midday trading Wednesday. Despite climbing 27% in the past three months, shares are down 16% over the past year.

The Bloomington, Minn.-based semiconductor manufacturer before the bell posted a loss of $700,000, or one cents a share, compared with a loss of $10.3 million, or 22 cents a share, a year earlier.

Adjusted per-share earnings came in at four cents, compared with analyst views for a loss of six cents, according to FactSet.

Revenue fell 5% to $75.5 million but topped the $74.2 million that analysts expected.

For the first quarter, the company guided for an adjusted per-share loss of 10 cents to 16 cents, compared with analyst expectations for a loss of 6 cents. It forecast revenue of $59 million to $63 million, missing the $66.5 million that analysts modeled.

Also on Wednesday, SkyWater said it inked a deal with Infineon Technologies, a German semiconductor company, to purchase an Austin, Texas, facility, increasing its available chip capacity in the U.S. The companies entered a corresponding long-term supply agreement, which they said in a joint statement would enable Infineon to maintain a manufacturing footprint in the country.

Write to Connor Hart at connor.hart@wsj.com

 

(END) Dow Jones Newswires

February 26, 2025 12:47 ET (17:47 GMT)

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