SkyWater Technology, Inc. (SKYT) Suffers a Larger Drop Than the General Market: Key Insights

The most recent trading session ended with SkyWater Technology, Inc. (SKYT) standing at $9.27, reflecting a -0.43% shift from the previouse trading day's closing. The stock fell short of the S&P 500, which registered a loss of 0.27% for the day. At the same time, the Dow lost 0.51%, and the tech-heavy Nasdaq gained 0.03%.Shares of the company witnessed a loss of 17.83% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 1.69% and the S&P 500's gain of 4.27%.Market participants will be closely following the financial results of SkyWater Technology, Inc. in its upcoming release. The company plans to announce its earnings on February 26, 2025. On that day, SkyWater Technology, Inc. is projected to report earnings of -$0.07 per share, which would represent a year-over-year decline of 250%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $74.1 million, down 6.38% from the year-ago period.It's also important for investors to be aware of any recent modifications to analyst estimates for SkyWater Technology, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. SkyWater Technology, Inc. is currently a Zacks Rank #3 (Hold).The Electronics - Semiconductors industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 152, positioning it in the bottom 40% of all 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.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SkyWater Technology, Inc. (SKYT): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks