SkyWater Technology (NASDAQ:SKYT) Shares Gap Up – Time to Buy?

SkyWater Technology, Inc. (NASDAQ:SKYT)’s share price gapped up before the market opened 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 trading hands.

Analysts Set New Price Targets

SKYT has been the subject of several recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $12.00 target price on shares of SkyWater Technology in a research report on Monday, November 11th. Piper Sandler upped their price objective on shares of SkyWater Technology from $9.00 to $12.00 and gave the company an “overweight” rating in a research report on Friday, October 25th.

SkyWater Technology Stock Performance

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 stock’s 50-day moving average is $10.43 and its 200 day moving average is $9.17. The firm has a market cap of $745.34 million, a P/E ratio of -44.69 and a beta of 3.72.

Insiders Place Their Bets

In other SkyWater Technology news, Director Loren A. Unterseher sold 7,761 shares of the 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 owns 12,806,264 shares in the company, valued at approximately $118,714,067.28. This represents a 0.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 42.55% of the company’s stock.

Hedge Funds Weigh In On SkyWater Technology

A number of large investors have recently added to or reduced their stakes in SKYT. Quarry LP bought a new position in SkyWater Technology during the 3rd quarter worth about $35,000. Allworth Financial LP acquired a new position in shares of SkyWater Technology during the 3rd quarter worth about $41,000. nVerses Capital LLC acquired a new position in shares of SkyWater Technology during the 3rd quarter worth about $60,000. The Manufacturers Life Insurance Company acquired a new position in shares of SkyWater Technology during 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 worth $91,000 after buying an additional 11,864 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.