BLOOMINGTON, Minn. & REDMOND, Wash. - SkyWater Technology (NASDAQ: SKYT) and Lumotive have announced the successful integration of Lumotive's solid-state optical beamforming technology into SkyWater's manufacturing process. The technology, based on Lumotive's Light Control Metasurface (LCM™), is now fully qualified for volume production under SkyWater's Technology as a Service (TaaS) model.
Optical beamforming is essential for applications such as 3D sensing and LiDAR, which are used in autonomous vehicles, robotics, and other industrial sensors. Lumotive's LCM™ technology allows for the electronic manipulation of light, offering advantages over traditional mechanical methods, including improvements in compactness, durability, speed, precision, and power consumption.
The collaboration between the two companies has resulted in the LM10, which is Lumotive's first product offering utilizing LCM technology. The LM10 chip is already being shipped worldwide as part of 3D sensors for leading customers.
Dr. Gleb Akselrod, Lumotive Founder and CTO, highlighted the significance of the LM10 LCM chip's qualification in SkyWater's production process, noting its potential to transform industries by enabling compact, adaptive programmable optics through established silicon fabrication techniques.
Ross Miller, SkyWater's SVP of Commercial and Aerospace & Defense Business, expressed satisfaction with reaching this milestone with Lumotive, emphasizing the innovation Lumotive brings to the field of solid-state LIDAR.
Lumotive has been recognized with several industry awards, including the 2021 Startup of the Year award from Fierce Electronics and CES Innovation Awards in 2022 and 2024. SkyWater is a U.S.-based semiconductor manufacturer accredited as a Trusted Foundry and serves various markets, including aerospace & defense, automotive, and IoT.
The information for this article is based on a press release statement.
InvestingPro Insights
As SkyWater Technology (NASDAQ: SKYT) positions itself at the forefront of optical beamforming technology through its partnership with Lumotive, financial metrics and market performance shed light on the company's current valuation and investor sentiment. SkyWater's commitment to innovation is mirrored in its recent market performance, with a significant 13.12% return over the last week, and an impressive 107.69% surge over the last six months, indicating strong investor confidence in the company's growth trajectory.
Despite these positive returns, SkyWater faces challenges as reflected in its financials. The company's current Price / Book ratio stands at a high 9.04, suggesting a premium valuation compared to its book value. This could be a point of consideration for investors looking at the intrinsic value of the company. Additionally, SkyWater's gross profit margin at 21.31% indicates there may be room for improvement in terms of operational efficiency and cost management.
Investors should note that while SkyWater has demonstrated the ability to generate substantial returns, as evidenced by the strong performance over various time frames, the company has not been profitable over the last twelve months. Analysts, however, predict that the company will be profitable this year, which could be a pivotal turning point for SkyWater's financial health. With these insights in mind, potential investors can turn to InvestingPro for further in-depth analysis and additional InvestingPro Tips, of which there are 11 more listed for SkyWater Technology, to make informed decisions. To access these valuable insights, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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