In the after-market session on Wednesday, SkyWater Technology, Inc. (NASDAQ: SKYT) shares exhibited a positive trend, registering an ascent of 8.22% to reach $9.35. This recovery followed a 4.21% downturn experienced by SkyWater stock during the regular trading hours, concluding at $8.64. The spike in SKYT shares is linked to revealing the financial outcome date and securing a sizable deal.
SkyWater (SKYT) plans to unveil its fiscal Q4 2023 results, spanning until December 31, 2023, post-market closure on Monday, February 26, 2024. Subsequently, SKYT management will conduct a webcast to delve into its business strategies and financial outcomes.
SKYT also recently initiated a noteworthy initiative in collaboration with the Department of Defense (DOD) to enhance domestic fan-out wafer level packaging (FOWLP) capabilities, catering to both governmental and commercial clientele. This project stems from a five-year DOD contract granted to Osceola County and SkyWater Florida, with an estimated value of $120 million over five years, and the potential for an additional $70 million, bringing the total to $190 million.
This funding will support the establishment, tooling, and development of the Center for Neovation. SkyWater, as the inaugural domestic licensee of Deca’s M-Series and Adaptive Patterning solutions, is instrumental in reshoring the semiconductor supply chain. Through the collaboration with Deca, SkyWater envisions the development of embedded devices, including active and passive bridge die, integrated passives, and an innovative technology roadmap.
The implementation of Deca’s Adaptive Patterning, offering real-time design-during-manufacturing capabilities, empowers designers to achieve unprecedented device interface density with enhanced process windows for robust manufacturability. This award aligns with the Department of Defense’s (DOD) Office of the Secretary of Defense (OSD’s) Re-shore Ecosystem for Secure Heterogeneous Advanced Packaged Electronics (RESHAPE) initiatives.
This initiative holds significance, given that less than 3% of semiconductor advanced packaging manufacturing occurs in the U.S., posing national security and economic risks as chips are often sent overseas for this critical manufacturing step.
