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SkyWater Technology Stock Sees RS Rating Rise To 91; Partners With Rockley

When looking for the best stocks to buy and watch, focus on those with rising relative price strength.

One stock that fits that bill is SkyWater Technology (SKYT) stock, which saw a welcome improvement to its Relative Strength (RS) Rating on Friday, rising from 88 to 91.

New Partnership With Rockley

The chipmaker recently announced a partnership with Rockley Photonics (RKLY) in a deal regarding wearable health sensors. Rockley will now also use SkyWater to include wafer back-end-of-line processing for Rockley’s spectrophotometer-on-a-chip health monitoring solutions.




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When you’re researching the best stocks to buy and watch, keep a close on eye on relative price strength. This exclusive rating from Investor’s Business Daily tracks share price movement with a 1 (worst) to 99 (best) score. The rating shows how a stock’s price performance over the last 52 weeks compares to all the other stocks in our database.

Decades of market research reveals that the best-performing stocks often have an RS Rating of above 80 in the early stages of their moves.


See How IBD Helps You Make More Money In Stocks


Is SkyWater Technology Stock A Buy?

After breaking out of a first-stage IPO base on Mar. 20 with a 22.52 entry point, SkyWater Technology stock reached a high of 34.43. Since then, the chipmaker has pulled back in a wild and choppy consolidation, meaning its’ now out of a proper buy range. Look for the stock to create a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week moving average. Read “Looking For The Next Big Stock Market Winners? Start With These 3 Steps” for more tips. Also, check out “Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks.”

 

While earnings-per-share growth fell in the prior quarter from 0% to -27%, revenue grew 34%, up from 30% in the previous report.

SkyWater Technology stock holds the No. 22 rank among its peers in the Electronics-Semiconductor Manufacturing industry group. Diodes (DIOD), Chipmos Technologies (IMOS) and Power Integrations (POWI) are among the top 5 highly rated stocks within the group. For more industry news, check out “Chip Stocks To Watch And Semiconductor Industry News.”

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