SkyWater Technology (NASDAQ:SKYT) Shares Gap Up – Should You Buy?

SkyWater Technology, Inc. (NASDAQ:SKYT) shares gapped up prior to trading on Monday . The stock had previously closed at $14.49, but opened at $15.24. SkyWater Technology shares last traded at $16.71, with a volume of 367,943 shares traded.

Analyst Ratings Changes

A number of research firms recently weighed in on SKYT. Piper Sandler raised their price target on SkyWater Technology from $9.00 to $12.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Needham & Company LLC restated a “buy” rating and issued a $12.00 target price on shares of SkyWater Technology in a research note on Monday, November 11th.

SkyWater Technology Stock Down 18.3 %

The company has a current ratio of 0.87, a quick ratio of 0.78 and a debt-to-equity ratio of 0.53. The firm’s fifty day moving average price is $10.60 and its 200-day moving average price is $9.28. The company has a market cap of $589.98 million, a price-to-earnings ratio of -35.37 and a beta of 3.43.

Insider Activity at SkyWater Technology

In other news, Director Loren A. Unterseher sold 7,761 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $9.27, for a total transaction of $71,944.47. Following the completion of the transaction, the director now directly owns 12,806,264 shares of the company’s stock, valued at $118,714,067.28. This represents a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 42.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Emerald Advisers LLC increased its holdings in SkyWater Technology by 1.7% during the third quarter. Emerald Advisers LLC now owns 1,113,353 shares of the company’s stock worth $10,109,000 after buying an additional 18,423 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of SkyWater Technology by 6.4% during the 3rd quarter. Geode Capital Management LLC now owns 586,933 shares of the company’s stock worth $5,330,000 after purchasing an additional 35,219 shares during the last quarter. State Street Corp raised its holdings in shares of SkyWater Technology by 4.7% in the 3rd quarter. State Street Corp now owns 473,475 shares of the company’s stock valued at $4,299,000 after purchasing an additional 21,134 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in SkyWater Technology by 20.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 199,318 shares of the company’s stock valued at $1,810,000 after purchasing an additional 34,383 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in SkyWater Technology by 183.6% in the 2nd quarter. AQR Capital Management LLC now owns 119,828 shares of the company’s stock valued at $917,000 after purchasing an additional 77,571 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

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.