SkyWater Technology, Inc. (NASDAQ:SKYT) Given Average Recommendation of “Hold” by Brokerages

Shares of SkyWater Technology, Inc. (NASDAQ:SKYT) have received a consensus recommendation of “Hold” from the seven research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $32.00.

Several research firms have issued reports on SKYT. Piper Sandler lowered shares of SkyWater Technology from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $17.00 to $35.00 in a research report on Monday, January 26th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SkyWater Technology in a report on Monday, December 29th. Jefferies Financial Group upgraded SkyWater Technology to a “hold” rating in a report on Tuesday, October 28th. Needham & Company LLC downgraded SkyWater Technology from a “buy” rating to a “hold” rating in a research report on Monday, January 26th. Finally, Craig Hallum cut shares of SkyWater Technology from a “buy” rating to a “hold” rating and set a $35.00 target price for the company. in a research note on Tuesday, January 27th.

Insider Activity at SkyWater Technology

In related news, Director Loren A. Unterseher sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $14.54, for a total transaction of $1,454,000.00. Following the transaction, the director directly owned 4,487,394 shares of the company’s stock, valued at approximately $65,246,708.76. This trade represents a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 37.85% of the company’s stock.

Hedge Funds Weigh In On SkyWater Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SKYT. Quarry LP acquired a new position in SkyWater Technology in the fourth quarter valued at about $25,000. State of Wyoming bought a new stake in shares of SkyWater Technology in the fourth quarter worth $35,000. Russell Investments Group Ltd. increased its stake in shares of SkyWater Technology by 814.1% in the third quarter. Russell Investments Group Ltd. now owns 2,468 shares of the company’s stock valued at $46,000 after buying an additional 2,198 shares during the period. Federated Hermes Inc. bought a new position in SkyWater Technology during the 2nd quarter worth approximately $25,000. Finally, BNP Paribas Financial Markets raised its stake in SkyWater Technology by 56.4% during the second quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company’s stock worth $27,000 after buying an additional 991 shares during the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

SkyWater Technology Stock Performance

SKYT opened at $27.76 on Tuesday. The business’s 50-day simple moving average is $26.87 and its 200 day simple moving average is $19.42. SkyWater Technology has a 52-week low of $5.67 and a 52-week high of $36.27. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.61 and a current ratio of 0.67. The firm has a market capitalization of $1.35 billion, a PE ratio of 10.76 and a beta of 3.50.

SkyWater Technology Company Profile

SkyWater Technology Solutions, Inc is a U.S.-based specialty semiconductor foundry headquartered in Bloomington, Minnesota. The company focuses on the development and manufacture of high-reliability integrated circuits using advanced processes on 200-millimeter wafers.

SkyWater’s service offerings span analog/mixed-signal, radio frequency (RF), micro-electromechanical systems (MEMS) and advanced packaging technologies. Its turnkey model includes multi-project wafer (MPW) runs, volume production, design enablement support and assembly and test services, enabling customers to take concepts from prototype to market.

Serving aerospace, defense, automotive, industrial, medical and communications sectors, SkyWater supports applications that demand rigorous performance, quality and traceability.