SkyWater Technology initiated with a Buy at Stifel

Stifel initiated coverage of SkyWater Technology (SKYT) with a Buy rating and $25 price target SkyWater, the largest U.S.-owned and operated semiconductor manufacturing foundry that specializes in mature process technologies, is “situated in the sweet spot of two emerging, durable themes,” namely the urgency to materially reshore semiconductor production and the prioritization to fund quantum computing development, manufacturing and commercialization, the analyst tells investors. The strength of SkyWater’s defense, aerospace and commercial partnerships, along with recent expansion, positions it as “an important player/future enabler” of both U.S. reshoring and securing quantum computing leadership, the firm contends.