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Do you buy SkyWater Technology after announcing the expansion partnership? By Stock News

© Reuters. Do you buy SkyWater Technology after announcing the expansion partnership?

SkyWater Technology (SKYT) has become a hot topic in the market on August 24th by expanding its partnership with Rockley Photonics (RKLY). But can stock prices continue to rise even if the company’s losses increase in the second quarter? SkyWater Technology, Inc., an integrated circuit (IC) manufacturer in Bloomington, Minnesota. (SKYT) made its impressive stock market debut on April 21, 2021, with its shares 10.7% above the initial asking price of $ 14. On August 24, the company announced an expansion of its partnership with Rockley Photonics Holdings Limited (RKLY), expanding its collaboration to include wafer back-end of line processing for RKLY’s spectrophotometer on-chip health monitoring solution.

SKYT’s share price has risen 7.7% in the last three months and Friday’s trading session ended at $ 27.37.

However, stock prices have fallen 19.1% since reaching a record $ 34.43 on June 18. One of SKYT’s highly profitable Advanced Technology Services (ATS) programs in 2020 has been restructured and there are no plans to resume operations until 2022. In addition, the company’s revenue and EPS estimates have been significantly reduced as analysts have taken into account the latest outlook. In fact, Jeffreys downgraded the stock’s rating from purchase to hold and lowered its price target to $ 23. As a result, SKYT’s outlook looks bleak in the short term.

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Do you buy SkyWater Technology after announcing the expansion partnership? By Stock News

https://www.investing.com/news/stock-market-news/after-announcing-an-expanded-partnership-is-skywater-technology-a-buy-2603068 Do you buy SkyWater Technology after announcing the expansion partnership? By Stock News

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