When looking for the best stocks to buy and watch, focus on those with rising relative price strength.
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.
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.
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.”
YOU MIGHT ALSO LIKE: