24/7 Market News Snapshot 26 February, 2025 – SkyWater Technology, Inc. Common Stock (NASDAQ:SKYT)

February 26, 2025

DENVER, Colo., 26 February, 2025 (247marketnews.com) – (NASDAQ:SKYT) are discussed in this article.
SkyWater Technology, Inc. has recently experienced a notable increase in its stock value, opening at $10.16 and currently trading at $10.288, marking a significant rise of 16.38%. This surge follows a previous session close of $8.84, indicating heightened investor confidence and interest. The trading volume has reached 1.45 million shares, reflecting robust market participation. Technical indicators suggest bullish momentum, with important resistance levels nearing recent highs, while a support level around $10 is crucial to sustaining this upward trend. Market observers are encouraged to monitor ongoing buying pressure and possible breakout formations in the following trading sessions.

In addition, SkyWater has announced its financial results for the fourth quarter and the entire fiscal year 2024, showcasing a strong performance amid a dynamic semiconductor landscape. The fourth-quarter revenue stood at $75.5 million, representing a 5% decline year-over-year. However, the company achieved a substantial increase in adjusted gross margin, climbing to 26.6% from 17.4% in the previous year, indicating enhanced operational efficiencies.

CEO Thomas Sonderman highlighted the transformative progress made since the company’s IPO nearly four years ago. He noted, “We’ve leveraged our advanced technology foundry model to achieve record revenues and profitability in 2024.” The company’s strategic initiatives, including the introduction of the ThermaView™ platform and advancements in securing CHIPS funding, have reinforced its position within the domestic semiconductor industry.

Throughout fiscal year 2024, SkyWater recorded unprecedented revenues of $342.3 million, reflecting a 19% increase from the previous year, despite a net loss of $6.8 million on a GAAP basis. Nevertheless, the company achieved a non-GAAP net income of $2.7 million, showcasing substantial financial recovery. With a projected revenue range of $59 million to $63 million for the first quarter of 2025, SkyWater is poised for continued growth and innovation, dedicated to advancing its operational capabilities to meet increasing market demands.

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