SkyWater Technology, Inc. (NASDAQ:SKYT) Receives Consensus Rating of “Hold” from Analysts

Shares of SkyWater Technology, Inc. (NASDAQ:SKYT) have received a consensus recommendation of “Hold” from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $32.00.

SKYT has been the topic of a number of research analyst reports. Zacks Research upgraded SkyWater Technology from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of SkyWater Technology in a research report on Wednesday.

SkyWater Technology Price Performance

Shares of NASDAQ SKYT opened at $34.92 on Monday. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 14.99 and a beta of 3.32. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.51 and a quick ratio of 0.44. The business has a 50-day moving average of $35.37 and a two-hundred day moving average of $30.02. SkyWater Technology has a 1 year low of $8.49 and a 1 year high of $39.93.

SkyWater Technology (NASDAQ:SKYT) last posted its earnings results on Friday, May 8th. The company reported ($0.25) EPS for the quarter. SkyWater Technology had a negative return on equity of 7.88% and a net margin of 21.04%.The firm had revenue of $160.69 million for the quarter. On average, analysts forecast that SkyWater Technology will post -0.42 earnings per share for the current fiscal year.

Insider Activity at SkyWater Technology

In other news, CFO Steve Manko sold 75,000 shares of SkyWater Technology stock in a transaction dated Monday, May 11th. The stock was 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. The trade was a 43.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 22.56% of the company’s stock.

Institutional Trading of SkyWater Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP acquired a new position in SkyWater Technology in the 4th quarter valued at about $25,000. Federated Hermes Inc. acquired a new position in SkyWater Technology in the 2nd quarter valued at about $25,000. KBC Group NV acquired a new position in SkyWater Technology in the 1st quarter valued at about $27,000. BNP Paribas Financial Markets increased its position in SkyWater Technology by 56.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company’s stock valued at $27,000 after acquiring an additional 991 shares during the period. Finally, State of Wyoming acquired a new position in SkyWater Technology in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

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.