We recently compiled a list of the 9 High Growth Small Cap Stocks That Are Profitable. The eighth stock on our list of high growth stocks is SkyWater Technology, Inc.
TheFly reported on January 27 that TD Cowen downgraded SKYT from Buy to Hold while also raising its price target to $35 from $24. The move followed the company’s agreement to be acquired by IonQ in a deal that values ​​SKYT at $35 per share, or approximately $1.88 billion.
Similarly, on the same day, Craig-Hallum also downgraded SkyWater Technology, Inc. (NASDAQ:SKYT) from Buy to Hold and set a $35 price target following the announcement of its acquisition by IonQ. The company indicated the transaction is likely to be completed and said potential concerns from other quantum customers are unlikely to derail the deal. Craig-Hallum also noted that SKYT shares are trading at approximately 10% of the agreed transaction price.
SkyWater Technology, Inc. (NASDAQ:SKYT) is a US-based semiconductor foundry that provides chip design, development and manufacturing services in the aerospace, defense, automotive and industrial markets. The company supports safe domestic production with advanced manufacturing capabilities and strategic partnerships to strengthen the U.S. semiconductor supply chain.
While we recognize SKYT’s potential as an investment, we believe certain AI stocks offer greater growth potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that’s also benefiting significantly from Trump-era tariffs and the offshoring trend, check out our free report on best short-term AI stock.
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Disclosure: None.