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Tag: SkyWater Stock

  • After-Market Momentum Builds For SkyWater (SKYT) After Announcing Robust Q2 Results

    After-Market Momentum Builds For SkyWater (SKYT) After Announcing Robust Q2 Results

    During the after-hours trading session, SkyWater Technology, Inc.’s (NASDAQ: SKYT) share price had a significant boost, jumping 22.44% to $10.86. The rise came after the completion of a major strategic acquisition—Infineon’s U.S.-based semiconductor manufacturing plant, Fab 25 in Austin, Texas—and the announcement of second-quarter financial results that exceeded projections.

    The Acquisition Of Fab 25 Will Result In Significant Revenue Growth.

    SkyWater has achieved a significant milestone with the acquisition of Fab 25, which is fully financed by a flexible senior secured revolving credit facility that may borrow up to $350 million. Beginning in Q3, SkyWater anticipates that Fab 25 will be accretive to both adjusted EBITDA and free cash flow, and it will generate at least $300 million in sales annually.

    With $73 million in cash and an extra $20 million for working capital, the total transaction price came to about $93 million. This is an updated transaction structure that increases the upfront payment by $18 million and eliminates a $25 million payment linked to a supply agreement.

    Strategic Supply Agreement and US Semiconductor Push

    With an estimated multi-year supply agreement valued at more than $1 billion, Fab 25 offers the scalability and process flexibility required to meet the core needs of the semiconductor industry. In addition to supporting national objectives for safe, onshore semiconductor manufacturing, this enhances SkyWater’s standing in America’s industrial and technological resilience.

    Extension of Quantum Computing and Advanced Packaging

    Beyond Fab 25, SkyWater is advancing in innovative areas such as quantum computing and advanced packaging. In order to create next-generation quantum systems, SKYT is honing its expertise in two fields: chiplet integration and superconducting films.

    It is also enhancing infrastructure at its Kissimmee, Florida factory, which is nearing a significant installation of new machinery to support its Advanced Packaging platform, in anticipation of a projected revenue ramp in the second half of 2025. With its expanding capabilities and commitment to semiconductor innovation in the US, SkyWater is well-positioned for substantial growth in 2026 as a result of all of these initiatives.

  • Pre-Market Rally For SkyWater Technology (SKYT) Shares

    Pre-Market Rally For SkyWater Technology (SKYT) Shares

    Following a 20.49% spike that ended at $15.76 the previous session, shares of SkyWater Technology, Inc. (NASDAQ: SKYT) are up 6.91% pre-market to $16.85. The company’s announcement of a strategic partnership to improve manufacturing capacities comes after this optimistic trend.

    SkyWater Entered A Strategic Collaboration

    SkyWater (SKYT) has adopted the YES RapidCure polymer dielectric curing systems to advance its M-Series fan-out wafer-level packaging (FOWLP) technology. This initiative is part of its partnership with Deca Technologies, leveraging Deca’s proprietary curing process to meet the demands of shrinking line widths and advanced packaging requirements.

    YES RapidCure employs a unique combination of ultraviolet (UV) and direct thermal exposure, significantly accelerating process cycle times. The technology enables efficient curing of both organic and inorganic thin films while maintaining or exceeding the dielectric properties of conventional methods.

    Innovative Curing Process Enhances Efficiency

    The RapidCure system integrates UV pre-treatment for preliminary cross-linking, followed by precise thermal curing. In addition to lowering thermal budgets, this technique produces quicker throughput for applications involving semiconductor packing and displays. SkyWater hopes to increase manufacturing throughput, improve dependability, and improve prototyping services by implementing this technology.

    SKYT has become the first U.S. licensee of Deca’s M-Series and Adaptive Patterning solutions, reinforcing its commitment to reshoring the semiconductor supply chain. The company’s adoption of YES’s RapidCure technology positions it as a pioneer in advanced packaging solutions.

    Breakthrough in Cycle Time Reduction

    The RapidCure process brings unprecedented efficiency to the semiconductor industry by reducing cure times for standard materials like polyimide and PBO from six hours to under 20 minutes. This breakthrough supports the development of high-density heterogeneous integration and next-generation chiplet-based devices, paving the way for faster innovation.

    SKYT is Expanding Polymer Curing Capabilities

    Through this partnership, Deca and YES provide SkyWater with a comprehensive suite of polymer curing technologies. The collaboration addresses diverse applications, including low-temperature polymer curing, adhesive baking, and advanced fan-out processes. This partnership underscores SkyWater’s drive to deliver cutting-edge semiconductor solutions with enhanced performance and reduced cost of ownership.

  • What Took SkyWater (SKYT) Stock Higher After-Hours?

    What Took SkyWater (SKYT) Stock Higher After-Hours?

    In the after-market session on Wednesday, SkyWater Technology, Inc. (NASDAQ: SKYT) shares exhibited a positive trend, registering an ascent of 8.22% to reach $9.35. This recovery followed a 4.21% downturn experienced by SkyWater stock during the regular trading hours, concluding at $8.64. The spike in SKYT shares is linked to revealing the financial outcome date and securing a sizable deal.

    SkyWater (SKYT) plans to unveil its fiscal Q4 2023 results, spanning until December 31, 2023, post-market closure on Monday, February 26, 2024. Subsequently, SKYT management will conduct a webcast to delve into its business strategies and financial outcomes.

    SKYT also recently initiated a noteworthy initiative in collaboration with the Department of Defense (DOD) to enhance domestic fan-out wafer level packaging (FOWLP) capabilities, catering to both governmental and commercial clientele. This project stems from a five-year DOD contract granted to Osceola County and SkyWater Florida, with an estimated value of $120 million over five years, and the potential for an additional $70 million, bringing the total to $190 million.

    This funding will support the establishment, tooling, and development of the Center for Neovation. SkyWater, as the inaugural domestic licensee of Deca’s M-Series and Adaptive Patterning solutions, is instrumental in reshoring the semiconductor supply chain. Through the collaboration with Deca, SkyWater envisions the development of embedded devices, including active and passive bridge die, integrated passives, and an innovative technology roadmap.

    The implementation of Deca’s Adaptive Patterning, offering real-time design-during-manufacturing capabilities, empowers designers to achieve unprecedented device interface density with enhanced process windows for robust manufacturability. This award aligns with the Department of Defense’s (DOD) Office of the Secretary of Defense (OSD’s) Re-shore Ecosystem for Secure Heterogeneous Advanced Packaged Electronics (RESHAPE) initiatives.

    This initiative holds significance, given that less than 3% of semiconductor advanced packaging manufacturing occurs in the U.S., posing national security and economic risks as chips are often sent overseas for this critical manufacturing step.

  • Why Did SkyWater (SKYT) Stock Plummet In Afterhours Session?

    At last check in afterhours trading, SkyWater Technology Inc. (SKYT) was down -10.19% at $25.92. SkyWater stock closed Monday at $28.86, following a gain of 5.29% on the day. Trading volume of SKYT stock has been lower, at 0.24 million shares, as compared to the average daily volume of 281.63K for the last three months. The SKYT stock fluctuated between $27.55 and $30.23 during the trading session.

    The earnings per share ratio for SKYT were -1.79. SKYT stock has gained 7.53% in the past five sessions and -6.09% over the past month, but has gained 62.68% year to date. Furthermore, the SKYT stock currently has a RSI of 56.28. SKYT stock fell following the announcement that its board had approved strategic capital investment.

    How much has SKYT Stock approved for the investment?

    US-owned and US-based SkyWater is a pure play semiconductor foundry. SKYT also offers custom technology development services, volume manufacturing and advanced packaging capabilities, making them a DOD-certified trusted supplier. As part of the Technology Foundry model, SKYT operates manufacturing facilities in Bloomington, Minnesota and Kissimmee, Florida to enable CMOS and rad-hard mix-signal development, full-price packaging, and advanced programming.

    The Advanced Technology Services offered by SKYT enable the development of superconducting and 3D ICs, as well as carbon nanotube, photonic and MEMS devices. As part of its growing product portfolio, SKYT currently serves customers in market segments such as aerospace & defense, automotive, biomedical, cloud & computing, consumer, industrial, and IoT.

    In a company announcement, SkyWater announced that its Board of Directors has approved $56 million worth of strategic capital investments to expand the capacity and capabilities of its Minnesota facility and to accelerate its entry into the 200 mm GaN market.

    • As a result of these strategic investments, SKYT is demonstrating its commitment to its customers in co-creating emerging technologies, which is a key component of ensuring long-term shareholder value for investors.
    • Due to the potential of next-generation microelectronics, SKYT stock believes it will become a leader in aerospace, defense, industrial and automotive markets as a result of its investment in GaN technologies.
    • In the White House 100 Day Supply Chain Review, it was noted that there is a need for US-based foundries that can offer GaN technology services.

    SKYT also shared preliminary results:

    • SKYT also announced selected preliminary financial results for the second quarter ended July 4, 2021 in connection with its earnings webcast to be held on August 4, 2021.
    • At Q2, 2021, SKYT stock is expecting net sales of $41.0 million to $41.5 million, a net loss attributable to shareholders of $8.0 million to $7.0 million, and Adjusted EBITDA of $(1.5) million to $(0.5) million.
    • According to preliminary numbers, net sales excluding tool sales grew 18% to 20% compared to the first quarter of 2021.
    • Comparatively to the second quarter of 2020, total preliminary net sales increased by 33% to 35%.

    What SKYT has achieved in the current quarter?

    SkyWater (SKYT) completed a number of milestones in its second quarter, including its initial public offering. It is a great tribute to the team members, customers, and partners of the organization as SKYT was able to achieve significant sales growth despite all of this.