SkyWater Technology (NASDAQ:SKYT) Trading Up 10.5% – Time to Buy?

SkyWater Technology, Inc. (NASDAQ:SKYT)’s share price traded up 10.5% during trading on Friday . The stock traded as high as $13.83 and last traded at $13.75. 450,074 shares were traded during trading, a decline of 4% from the average session volume of 470,118 shares. The stock had previously closed at $12.44.

Wall Street Analysts Forecast Growth

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

SkyWater Technology Trading Up 10.5 %

The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 0.87. The firm has a 50-day moving average of $9.55 and a 200-day moving average of $8.71. The firm has a market capitalization of $655.27 million, a P/E ratio of -39.29 and a beta of 3.72.

Insider Transactions at SkyWater Technology

In other news, Director Loren A. Unterseher sold 7,761 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $9.27, for a total transaction of $71,944.47. Following the completion of the sale, the director now directly owns 12,806,264 shares in the company, valued at approximately $118,714,067.28. This represents a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 42.55% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP purchased a new position in shares of SkyWater Technology during the third quarter valued at approximately $35,000. Allworth Financial LP bought a new position in SkyWater Technology in the 3rd quarter worth $41,000. nVerses Capital LLC bought a new position in SkyWater Technology in the 3rd quarter worth $60,000. The Manufacturers Life Insurance Company purchased a new stake in shares of SkyWater Technology in the 2nd quarter worth about $88,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of SkyWater Technology by 98,866.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 11,876 shares of the company’s stock valued at $91,000 after purchasing an additional 11,864 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

SkyWater Technology Company Profile

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.