Breaking News
Investing Pro 0
NEW! Get Actionable Insights with InvestingPro+ Try 7 Days Free

After Announcing an Expanded Partnership, is SkyWater Technology a Buy?

Stock Markets Aug 30, 2021 10:31AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. After Announcing an Expanded Partnership, is SkyWater Technology a Buy?

SkyWater Technology (SKYT) generated market buzz by expanding its partnership with Rockley Photonics (RKLY) on August 24. However, can the stock continue to rally in price even though the company’s losses widened in the second quarter? Let’s find out.Integrated circuits (ICs) manufacturer SkyWater Technology, Inc. (SKYT) in Bloomington, Minn., had an impressive stock market debut on April 21, 2021, with its shares opening 10.7% above their initial offer price of $14. On August 24, the company announced an expanded partnership with Rockley Photonics Holdings Limited (RKLY), broadening their collaboration to include wafer back-end-of-line processing for RKLY’s spectrophotometer-on-a-chip health monitoring solution.

SKYT’s shares have gained 7.7% in price over the past three months to close Friday’s trading session at $27.37.

However, the stock has lost 19.1% since hitting its all-time price high of $34.43 on June 18. One of SKYT’s advanced technology services (ATS) programs that generated significant revenue in 2020 is being restructured and is not expected to resume operations until 2022. Furthermore, the company’s revenue and EPS estimates were cut sharply as analysts factored in their latest outlook. In fact, Jeffries has downgraded the stock’s rating from Buy to Hold and lowered the price target to $23. So, SKYT’s prospects look bleak in the near term.

Continue reading on StockNews

After Announcing an Expanded Partnership, is SkyWater Technology a Buy?
 

Related Articles

U.S. House expected to vote Thursday on merger bill
U.S. House expected to vote Thursday on merger bill By Reuters - Sep 29, 2022

WASHINGTON (Reuters) - The U.S. House of Representatives is expected to vote on Thursday on a bill that would sharply raise fees for antitrust reviews of the biggest mergers and...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email