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Why SkyWater Stock Is Soaring Today

TheMotleyFool

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Why SkyWater Stock Is Soaring TodayPhoto, wide shot, wide-angle lens, Computer hardware manufacturer, Midday, harsh overhead sunlight, directional sunlightt, photo by Art Wolfe: https://img.theapi.app/temp/bee95973-d201-429b-849e-52867059bd1a.png

Shares of SkyWater Technology (NASDAQ: SKYT), a semiconductor manufacturing company, were skyrocketing today after the company reported top- and bottom-line second-quarter results that outpaced analysts' average estimates.

The semiconductor stock was up by 32.2% as of 2:08 p.m. ET.

SkyWater reported a non-GAAP (adjusted) loss per share of $0.32 in the second quarter, which was worse than the company's loss of $0.20 in the year-ago quarter but still ahead of Wall Street's consensus estimate of a loss of $0.34 per share.

Source Fool.com

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