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If All Goes Well, SkyWater Technology Inc. (NASDAQ: SKYT) Could Grow By 16.57% Or More

During the last session, SkyWater Technology Inc. (NASDAQ:SKYT)’s traded shares were 0.39 million. At the end of the trading day, the stock’s price was $17.98, reflecting an intraday gain of 3.75% or $0.65. The 52-week high for the SKYT share is $36.80, that puts it down -104.67 from that peak though still a striking 75.36% gain since the share price plummeted to a 52-week low of $4.43. The company’s market capitalization is $709.13M, and the average intraday trading volume over the past 10 days was 0.54 million shares, and the average trade volume was 265.11K shares over the past three months.

SkyWater Technology Inc. (SKYT) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 2.20. SKYT has a Sell rating from 0 analyst(s) out of 5 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 4 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.27.

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SkyWater Technology Inc. (NASDAQ:SKYT) trade information

SkyWater Technology Inc. (SKYT) registered a 3.75% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 3.75% in intraday trading to $17.98 this Friday, 08/05/22, hitting a weekly high. The stock’s 5-day price performance is 33.78%, and it has moved by 150.77% in 30 days. Based on these gigs, the overall price performance for the year is -20.16%. The short interest in SkyWater Technology Inc. (NASDAQ:SKYT) is 1.84 million shares and it means that shorts have 14.37 day(s) to cover.

The consensus price target of analysts on Wall Street is $10.80, which implies a decrease of -66.48% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $7.00 and $15.00 respectively. As a result, SKYT is trading at a premium of 16.57% off the target high and 61.07% off the low.

SkyWater Technology Inc. (SKYT) estimates and forecasts

Statistics show that SkyWater Technology Inc. has underperformed its competitors in share price, compared to the industry in which it operates. SkyWater Technology Inc. (SKYT) shares have gone up 94.80% during the last six months, with a year-to-date growth rate less than the industry average at -7.62% against 15.80. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -80.00% this quarter and then jump 24.10% in the quarter after that. In the rating firms’ projections, revenue will increase 21.70% compared to the previous financial year.

Revenue for the current quarter is expected to be $44.48 million as predicted by 5 analyst(s). Meanwhile, a consensus of 5 analyst(s) estimates revenue growth to $50.42 million by the end of Sep 2022.

While earnings are projected to return -221.90% in 2022, the next five years will return 20.00% per annum.

SKYT Dividends

SkyWater Technology Inc. is due to release its next quarterly earnings on November 03. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

SkyWater Technology Inc. (NASDAQ:SKYT)’s Major holders

SkyWater Technology Inc. insiders own 77.26% of total outstanding shares while institutional holders control 14.53%, with the float percentage being 63.92%. Emerald Advisers, LLC is the largest shareholder of the company, while 90 institutions own stock in it. As of Jun 29, 2022, the company held over 0.98 million shares (or 2.43% of all shares), a total value of $5.9 million in shares.

The next largest institutional holding, with 0.84 million shares, is of Emerald Mutual Fund Advisers Trust’s that is approximately 2.07% of outstanding shares. At the market price on Jun 29, 2022, these shares were valued at $5.03 million.

Also, the Mutual Funds coming in first place with the largest holdings of SkyWater Technology Inc. (SKYT) shares are Delaware Ivy Mid Cap Growth Fund and Financial Investors Tr-Emerald Growth Fund. Data provided on Mar 30, 2022 indicates that Delaware Ivy Mid Cap Growth Fund owns about 0.55 million shares. This amounts to just over 1.37 percent of the company’s overall shares, with a $5.97 million market value. The same data shows that the other fund manager holds slightly less at 0.41 million, or about 1.02% of the stock, which is worth about $2.53 million.

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