SkyWater Technology (NASDAQ:SKYT) Shares Up 7% – Still a Buy?

SkyWater Technology, Inc. (NASDAQ:SKYT)’s share price rose 7% on Thursday . The stock traded as high as $15.81 and last traded at $15.79. Approximately 705,561 shares traded hands during mid-day trading, an increase of 46% from the average daily volume of 483,141 shares. The stock had previously closed at $14.76.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $12.00 price target on shares of SkyWater Technology in a research note on Monday, November 11th. Piper Sandler raised their target price on shares of SkyWater Technology from $9.00 to $12.00 and gave the company an “overweight” rating in a report on Friday, October 25th.

SkyWater Technology Stock Performance

The company has a quick ratio of 0.78, a current ratio of 0.87 and a debt-to-equity ratio of 0.53. The stock has a fifty day moving average price of $10.04 and a two-hundred day moving average price of $8.95. The company has a market capitalization of $710.55 million, a price-to-earnings ratio of -42.60 and a beta of 3.72.

Insider Activity at SkyWater Technology

In other SkyWater Technology news, Director Loren A. Unterseher sold 7,761 shares of SkyWater Technology stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $9.27, for a total value of $71,944.47. Following the completion of the sale, the director now directly owns 12,806,264 shares of the company’s stock, valued at approximately $118,714,067.28. The trade was a 0.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 42.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Quarry LP purchased a new stake in SkyWater Technology in the third quarter valued at approximately $35,000. Allworth Financial LP purchased a new stake in shares of SkyWater Technology during the 3rd quarter valued at $41,000. nVerses Capital LLC acquired a new stake in shares of SkyWater Technology during the 3rd quarter worth $60,000. The Manufacturers Life Insurance Company purchased a new position in shares of SkyWater Technology in the 2nd quarter worth $88,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in SkyWater Technology by 98,866.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 11,876 shares of the company’s stock valued at $91,000 after acquiring an additional 11,864 shares during the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

About SkyWater Technology

SkyWater Technology, Inc, together with its subsidiaries, operates as a pure-play technology foundry that engages in the provision of semiconductor development, manufacturing, and packaging services in the United States. The company offers engineering and process development support services to co-create technologies with customers; and semiconductor manufacturing services for various silicon-based analog and mixed-signal, micro-electromechanical systems, and rad-hard integrated circuits.