How to Buy SkyWater Technology (SKYT) Stock

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Contributor, Benzinga
January 5, 2022
$11.55
-0.01[-0.09%]
Last update: 4:13PM (Delayed 15-Minutes)
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Open11.630Close11.540Vol / Avg.829.983K / 384.092KMkt Cap543.175MDay Range11.190 - 11.87652 Wk Range4.730 - 14.770

SkyWater Technology (NASDAQ: SKYT), a semiconductor company based in Minnesota, had its debut the week of in the spring of 2021. The company was formed in 2017 with the purchase of a facility from Cypress Semiconductors. SkyWater Technology hopes to take advantage of President Biden’s recent infrastructure proposal, which includes funding for semiconductors.

When Did SkyWater IPO?

SKYT IPO’d on April 21, 2021. For more information on other initial public offerings, click here for IPO news and information.

SkyWater Technology Financial History

SkyWater Technology (NASDAQ: SKYT) was founded in 2017 with the purchase of a facility from Cypress Semiconductor. In 2020, the company accomplished $140 million in sales. SkyWater looks to capitalize on the Biden infrastructure plan, which devotes around $50 billion to the semiconductor space. The firm accumulated $112,056,000 by selling 1,044,000 shares.

SkyWater Technology Potential

SkyWater Technology (NASDAQ: SKYT) has the potential to be a hot stock, with President Biden’s infrastructure plan serving as a potential catalyst. However, potential negatives include the recent semiconductor shortage and any unforeseen marketwide correction.

How to Buy SkyWater Technology (SKYT) Stock

Check out the best online stock brokers and take the following steps to buy SKYT.

  1. Pick a brokerage.

    First, pick a brokerage to open an account. Most brokers have now switched to a commission-free model, so you likely won’t have to worry about any additional fees while trading.

    Begin your brokerage search by defining your individual investment goals. Take factors into account such as your age, income and risk tolerance. Finally, look out for promotional offers. You don’t want to miss out on free trading funds or even free stocks.

  2. Decide how many shares you want.

    Once you pick a brokerage, you need to decide how many shares to buy. Take into account the current share price and how much money you can afford to invest. Remember that you should only invest money that you can afford to lose. This is especially true for a fairly recent IPO such as SkyWater Technology (NASDAQ: SKYT).

  3. Choose your order type.

    After settling on an amount of shares to buy, decide what order type you want to use. You can choose from many different order types — each offers various pros and cons.

    If you opt for a market order, your broker will execute the order instantaneously at the National Best Bid and Offer (NBBO) price. If you use a limit order, your broker won’t execute the order until shares can be bought at your specified price or better. Since recent IPOs can be more volatile than other stocks, you may want to use a limit order. 

  4. Execute your trade. 

    Last but not least, you need to execute your trade. Simply search for the ticker symbol SKYT and hit "buy." Once you do this, just sit back and wait for your broker to execute the order. Once your order fills, you will see your SKYT shares appear in your brokerage account. 

Best Online Stockbrokers

Below is a list of the best brokers to consider.

A Pop from Infrastructure Proposals

SkyWater Technology (NASDAQ: SKYT) could be the next stock on the street with a story behind it. With the Biden administration’s dedication to infrastructure, including semiconductors, SkyWater Technology could offer the perfect way to bet on his plan’s success. For more guidance, learn how to invest in upcoming IPOs right now.