TD Cowen Downgrades SkyWater to Hold, Price Target Raised to $35
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2d ago
0mins
TD Cowen downgraded SkyWater Technology (SKYT) to Hold from Buy with a price target of $35, up from $24, after the company reached an agreement to be acquired by IonQ (IONQ) for $35 per share or $1.88B.
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Analyst Views on SKYT
Wall Street analysts forecast SKYT stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for SKYT is 21.50 USD with a low forecast of 17.00 USD and a high forecast of 25.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
5 Analyst Rating
5 Buy
0 Hold
0 Sell
Strong Buy
Current: 33.640
Low
17.00
Averages
21.50
High
25.00
Current: 33.640
Low
17.00
Averages
21.50
High
25.00
About SKYT
SkyWater Technology, Inc. is an independent, pure-play technology foundry that offers advanced semiconductor development and manufacturing services. The Company’s Technology-as-a-Service (TaaS) model leverages a foundation of proprietary technology, engineering know-how capabilities, and microelectronics manufacturing capacity to co-develop process technology intellectual property (IP) with its customers that enable disruptive concepts through its Advanced Technology Services (ATS) for diverse microelectronics (integrated circuits (ICs)) and related micro- and nanotechnology applications. In addition to differentiated technology development services, it supports customers with volume production of ICs for high-growth markets through its Wafer Services. Its Wafer Services include the manufacture of silicon-based analog and mixed-signal ICs for its end markets. Through its ATS model, it specializes in co-creating advanced solutions with its customers that directly serve its end markets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Halper Sadeh LLC Investigates SkyWater and LINKBANCORP Transactions
- Legal Investigation Launched: Halper Sadeh LLC is investigating SkyWater Technology, Inc. (NASDAQ:SKYT) for its sale to IonQ, involving $15.00 in cash and $20.00 in IonQ common stock, potentially violating fiduciary duties to shareholders, urging them to contact the firm to enforce their rights.
- LINKBANCORP Transaction Review: The sale of LINKBANCORP, Inc. (NASDAQ:LNKB) to Burke & Herbert Financial Services Corp. involves an exchange of 0.1350 shares of Burke & Herbert common stock for each LINKBANCORP share, with Halper Sadeh LLC potentially seeking increased consideration for shareholders.
- Merger Impact Analysis: The merger between Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) and LINKBANCORP is expected to result in Burke & Herbert shareholders owning approximately 75% of the combined entity, with Halper Sadeh LLC encouraging shareholders to understand their legal rights and options.
- No-Risk Legal Consultation: Halper Sadeh LLC offers legal consultations without upfront fees, aiming to provide affected shareholders with additional disclosures and relief, ensuring their rights are fully protected in the transaction.
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IonQ Completes Acquisition of Skyloom, Accelerating Quantum Networking Strategy
- Acquisition Completed: IonQ has officially completed its acquisition of Skyloom Global Corp, a move aimed at enhancing its quantum networking infrastructure, which is expected to accelerate advancements in quantum key distribution and future quantum-enabled communications.
- Technology Integration: Skyloom's lightwave-optics technology will provide IonQ with high-performance communication capabilities, further refining its vision for distributed quantum entanglement and ultra-secure connectivity, thereby enhancing the company's competitive edge in the quantum networking space.
- Ongoing Acquisition Strategy: IonQ has also recently acquired SkyWater Technology and Oxford Ionics for over $1 billion, demonstrating its aggressive expansion strategy in the quantum computing sector.
- Market Reaction: Following the acquisition announcement, IonQ's stock rose by 0.90% to $45.90, reflecting positive market sentiment towards its acquisition strategy and potentially boosting investor confidence.
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