SkyWater Technology Inc (SKYT)

The past six months have been eventful for SKYT stock, marked by significant financial results and a major acquisition announcement. SkyWater reported record third-quarter 2025 results with $150.7 million in revenue, a 60.7% year-over-year increase. The company announced record annual revenue of $442.1 million for fiscal year 2025, a 29% increase over the prior year, and Q4 revenue was $171.0 million. IonQ agreed to acquire SkyWater Technology for $35.00 per share in a cash-and-stock transaction. As of March 31, 2026, SKYT stock had a 269.3% return over the past year and a 16.7% year-to-date return.

Demand for SkyWater Technology's products and services, particularly its Advanced Technology Services (ATS), can exhibit some seasonality and unevenness, often linked to the timing of program execution and government budget approvals, especially for aerospace and defense contracts. Wafer services volumes in the newly acquired Texas facility were expected to normalize in 2026, suggesting potential fluctuations after initial ramp-up.

SkyWater Technology, Inc. is a U.S.-based semiconductor engineering and fabrication foundry that operates as an independent, pure-play foundry, offering foundational-node manufacturing, advanced technology development, and advanced packaging services. The company uses a Technology as a Service (TaaS) model to streamline production for customers through development services, volume manufacturing, and heterogeneous integration solutions. SkyWater produces semiconductor chips using 90-nanometer process technology on 200-millimeter silicon wafers, serving diverse markets, including aerospace & defense, automotive, biomedical, cloud & computing, consumer, industrial, IoT, and quantum computing. The company is also a Department of Defense-accredited Trusted supplier.

SkyWater Technology's operations are entirely within the United States, with fabrication facilities in Bloomington, Minnesota, and Austin, Texas, and advanced packaging facilities in Kissimmee, Florida. The Austin, Texas facility, acquired from Infineon Technologies on June 30, 2025, significantly expanded SkyWater's operational footprint and capacity.

SkyWater Technology has cultivated a strong brand reputation as a trusted technology realization partner and a DMEA-accredited Trusted supplier for the U.S. Department of Defense. The company is recognized for its role in securing the domestic semiconductor supply chain and its leadership in quantum computing foundry services. SkyWater has been highlighted for its strategic importance in U.S. infrastructure investment, and the acquisition of Fab 25 in Austin, Texas, was seen as transformational. Shareholder alerts and investigations regarding the proposed sale of SkyWater Technology to IonQ and a filing delay for some revenue recognition have drawn attention.

SkyWater Technology, Inc. has a diverse ownership structure. Institutional shareholders hold 50.86% of the stock, while insiders own 185.03%, and retail investors hold a smaller portion. Key institutional holders include Ameriprise Financial Inc, BlackRock, Inc., and Vanguard Group Inc. Loren A. Unterseher is the largest individual shareholder, owning approximately 53.92 million shares, representing 112.34% of the company. CMI Oxbow Partners LLC holds 45.76% of shares, and Oxbow Industries, LLC is noted as the largest shareholder with 14% of shares outstanding.