Shares of SkyWater Technology (NASDAQ: SKYT) , a semiconductor manufacturing company, were skyrocketing today after the company reported top- and bottom-line second-quarter results that outpaced analysts' average estimates.
The semiconductor stock was up by 32.2% as of 2:08 p.m. ET.
SkyWater reported a non-GAAP (adjusted) loss per share of $0.32 in the second quarter, which was worse than the company's loss of $0.20 in the year-ago quarter but still ahead of Wall Street's consensus estimate of a loss of $0.34 per share.
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Why SkyWater Stock Is Soaring Today