TLDR
- SkyWater stockholders approved the merger deal with IonQ, clearing a major hurdle in the buyout process.
- IONQ stock rose 3.27% on Friday, closing at $49.24, with a 52-week range of $25.89 to $84.64.
- The deal is expected to close in Q2 or Q3 2026, pending regulatory and other closing approvals.
- IonQ posted record Q1 2026 revenue of $64.7 million and raised its full-year revenue outlook.
- Analysts hold a Moderate Buy consensus on IONQ with an average price target of $60.86, implying about 23% upside.
IonQ’s planned acquisition of chip foundry SkyWater Technology took a major step forward after SkyWater stockholders voted in favor of the merger at a special meeting held this week.
The vote removes one of the bigger hurdles in the deal, though it doesn’t close it. The companies still need regulatory approvals and must satisfy standard closing conditions before the transaction is complete.
SkyWater said the deal is on track to close in the second or third quarter of 2026.
IONQ stock responded positively, climbing 3.27% on Friday to close at $49.24. The stock has traded between $25.89 and $84.64 over the past 52 weeks.
SkyWater operates chip and advanced packaging facilities in Minnesota, Florida, and Texas. The company also serves defense clients and works across several emerging tech areas, including quantum computing.
For IonQ, the deal is about bringing more of its supply chain in-house. Owning a U.S.-based foundry could help it serve clients who prioritize local manufacturing and defense-grade production standards.
Why Institutional Investors Are Taking Notice
Several institutional investors increased their positions in IONQ in recent quarters. F m Investments LLC raised its stake by 60.5% in Q4, adding 16,422 shares to bring its total to 43,587 shares, valued at roughly $1.96 million.
Other firms also added exposure. Stone House Investment Management boosted its position by 700% in Q3, while Fortitude Family Office raised its holdings by 3,800% in Q4. Institutions now own about 41.42% of IONQ’s outstanding stock.
Insider activity was mixed. Two insiders sold stock earlier in the year — John W. Raymond sold 2,800 shares at $33.34 in March, and Robert T. Cardillo sold 5,165 shares at $39.44 in February. Combined insider selling over the past 90 days totaled about 12,354 shares worth $504,428.
Strong Q1 Sets the Stage
IonQ’s business results have been a bright spot. The company reported record Q1 2026 revenue of $64.7 million, a sharp year-over-year increase, and lifted its full-year 2026 revenue outlook following the results.
Wedbush maintained an outperform rating and a $60 price target as recently as May 4. Benchmark has a buy rating with a $65 target. Morgan Stanley set its target at $48.50. Needham holds a buy rating with a $65 target.
Based on 11 analysts tracked by one financial data provider, IONQ carries a Moderate Buy consensus rating with an average price target of $60.86. That represents roughly 23% upside from Friday’s close.
The stock opened at $49.36 on Monday. Its 50-day moving average stands at $36.42, and its 200-day moving average sits at $43.57. The company’s market cap is approximately $18.10 billion.
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