Piper Sandler raised the firm’s price target on SkyWater Technology (SKYT) to $17 from $12 and keeps an Overweight rating on the shares. The firm notes the company reported a Q3 record revenue and results above expectations for the September quarter. The company highlighted four new quantum customer engagements, with expected 30%-plus growth in space this year and similar expectations going into next year. Management reiterated quantum as a strategically important end market, now totaling 7 customers.
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Read More on SKYT:
- SkyWater Technology: Strong Buy Rating Backed by Strategic Fab 25 Acquisition and Quantum Computing Growth
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