Skywater Technology Inc Stock Price, News & Analysis

SkyWater Technology (NASDAQ: SKYT) has received a $99 million award from the Department of Defense to enhance onshore production capabilities for radiation-hardened electronics. This follows the successful completion of the RH90 prototype project, part of a larger $170 million investment initiative. The award supports the transition to productization and qualification of the technology, expected by the end of 2024. SkyWater aims to establish a comprehensive ecosystem around its RH90 process, including IP design libraries and rigorous testing for reliability and radiation resistance.

SkyWater Technology (NASDAQ: SKYT) has appointed Brian Lenihan as vice president of government relations to enhance its strategic initiatives supporting the CHIPS Act. The company will manufacture chips for academic and small business researchers under a cooperative agreement with the U.S. Department of Commerce and Google, allowing open-source access to circuit designs. Lenihan's extensive experience in public policy aims to strengthen SkyWater’s position as the only U.S.-owned pure-play foundry, essential for innovation and workforce development.

SkyWater Technology (NASDAQ: SKYT) announced the appointment of Todd Pedersen as Vice President of Corporate Development, focusing on Indiana operations. During a recent keynote, CEO Thomas Sonderman discussed plans for a $1.8 billion semiconductor manufacturing facility at Purdue University. The session aimed to educate students on semiconductor career opportunities, supported by U.S. government officials discussing CHIPS Act funding. Pedersen's expertise aims to bolster local project development efforts for SkyWater.

SkyWater Technology has been awarded $50.8M as part of the U.S. Economic Development Administration’s Build Back Better Regional Challenge to develop a semiconductor cluster in Central Florida. The funding will enhance SkyWater’s advanced packaging operations and support other projects in Osceola County. This initiative aims to address the microchip shortage, create high-paying jobs, and strengthen the local economy. SkyWater will contribute a 20% matching share for the project, which is part of a larger effort to boost domestic semiconductor manufacturing.

NanoDx, in collaboration with SkyWater Technology (NASDAQ: SKYT), has achieved a significant milestone by developing the first commercially ready nano biosensor for traumatic brain injury diagnostics. This breakthrough allows real-time detection of biomarkers and paves the way for FDA review and commercialization. The nanosensor's unique design, leveraging IBM Research's CMOS technology, enhances sensitivity and specificity in point-of-care testing. NanoDx plans to expand its applications beyond traumatic brain injury to address various unmet medical needs.

SkyWater Technology (NASDAQ: SKYT) has announced its participation in two key investor conferences in Q3. The events include the 3rd Annual Needham Virtual Semiconductor and SemiCap 1x1 Conference on August 24, 2022, and the Jefferies Semiconductor, IT Hardware & Communications Infrastructure Summit in Chicago, IL from August 30-31, 2022. Presentation materials will be available on the company's investor page. SkyWater is a U.S.-based semiconductor manufacturer, recognized as a Category 1A Trusted Foundry, offering various technology services.

SkyWater Technology (NASDAQ: SKYT) announced a net revenue of $47.4 million for Q2 2022, up 15% year-over-year, driven by growth in Advanced Technology Services (ATS) and wafer services. Despite a net loss of $13.0 million, or 27% of revenue, the company noted improvements in gross margins and significant customer engagement. ATS revenue rose 20%, while wafer services increased 23%. Recent partnerships and government support bolster growth prospects, with a target revenue increase of 25% for the year.

SkyWater Technology, represented by CEO Thomas Sonderman, attended a White House ceremony where President Biden signed the CHIPS and Science Act of 2022. This legislation aims to reverse the decline in U.S. chip manufacturing and secure domestic semiconductor sources. SkyWater plans to seek $1.8 billion in CHIPS funding for a new semiconductor facility in Indiana, building a public-private partnership with the state and Purdue University. The company is focused on reshoring semiconductor production and supporting national security.