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

Shares of SkyWater Technology, Inc. (NASDAQ:SKYT) have been assigned a consensus recommendation of “Hold” from the eight research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $32.00.

Several equities analysts have recently weighed in on the stock. Zacks Research upgraded shares of SkyWater Technology from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of SkyWater Technology in a research note on Friday, March 27th.

SkyWater Technology Stock Performance

Shares of SKYT stock opened at $38.37 on Thursday. SkyWater Technology has a one year low of $8.18 and a one year high of $39.93. The company’s 50-day moving average is $32.81 and its 200 day moving average is $27.61. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 16.47 and a beta of 3.32. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.44 and a current ratio of 0.51.

SkyWater Technology (NASDAQ:SKYT) last announced its quarterly earnings data on Wednesday, May 20th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.17). The firm had revenue of $160.69 million for the quarter, compared to analysts’ expectations of $146.07 million. SkyWater Technology had a net margin of 21.04% and a negative return on equity of 7.88%. Sell-side analysts expect that SkyWater Technology will post -0.42 EPS for the current fiscal year.

Insider Buying and Selling

In other SkyWater Technology news, CFO Steve Manko sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $35.08, for a total transaction of $2,631,000.00. Following the sale, the chief financial officer owned 96,567 shares in the company, valued at approximately $3,387,570.36. This trade represents a 43.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 250,324 shares of company stock worth $7,728,453. 22.56% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SkyWater Technology

Large investors have recently bought and sold shares of the business. KBC Group NV bought a new stake in SkyWater Technology in the first quarter worth $27,000. Quarry LP purchased a new position in SkyWater Technology during the fourth quarter worth $25,000. State of Wyoming purchased a new position in SkyWater Technology during the fourth quarter worth $35,000. Russell Investments Group Ltd. boosted its stake in SkyWater Technology by 814.1% during the third quarter. Russell Investments Group Ltd. now owns 2,468 shares of the company’s stock worth $46,000 after buying an additional 2,198 shares during the period. Finally, Federated Hermes Inc. purchased a new position in SkyWater Technology during the second quarter worth $25,000. Institutional investors own 70.00% of the company’s stock.

About SkyWater Technology

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.