TD Cowen Downgrades SkyWater Technology, Inc. (SKYT) to Hold After IonQ Deal

TheFly reported connected January 27 that TD Cowen downgraded SKYT from Buy to Hold portion expanding its terms people to $35 from $24. The alteration followed the company’s statement to beryllium acquired by IonQ successful a woody valuing SKYT astatine $35 per share, oregon astir $1.88 billion.

Similarly, connected the aforesaid day, Craig-Hallum besides downgraded SkyWater Technology, Inc. (NASDAQ:SKYT) from Buy to Hold and acceptable a $35 terms people pursuing the announcement of its acquisition by IonQ. The steadfast indicated that the transaction is apt to beryllium completed and said that imaginable concerns from different quantum customers are improbable to derail the deal. Craig-Hallum besides pointed retired that SKYT’s shares are trading wrong astir 10% of the agreed transaction price.

SkyWater Technology, Inc. (NASDAQ:SKYT) is simply a U.S.-based pure-play semiconductor foundry providing design, development, and manufacturing services for chips crossed aerospace, defense, automotive, and concern markets. The institution supports unafraid home accumulation with precocious fabrication capabilities and strategical partnerships to fortify the U.S. semiconductor proviso chain.

While we admit the imaginable of SKYT arsenic an investment, we judge definite AI stocks connection greater upside imaginable and transportation little downside risk. If you're looking for an highly undervalued AI banal that besides stands to payment importantly from Trump-era tariffs and the onshoring trend, spot our escaped study connected the best short-term AI stock.

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Disclosure: None.