Traders Purchase Large Volume of SkyWater Technology Call Options (NASDAQ:SKYT)

SkyWater Technology, Inc. (NASDAQ:SKYT) was the recipient of some unusual options trading activity on Wednesday. Stock traders acquired 1,596 call options on the company. This is an increase of 105% compared to the typical daily volume of 777 call options.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SKYT. Piper Sandler increased their price target on SkyWater Technology from $9.00 to $12.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Needham & Company LLC reiterated 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 Performance

Shares of SKYT opened at $12.44 on Friday. The stock has a 50 day moving average of $9.46 and a 200 day moving average of $8.66. The company has a market capitalization of $592.84 million, a price-to-earnings ratio of -35.54 and a beta of 3.72. SkyWater Technology has a 12 month low of $5.63 and a 12 month high of $19.00. The company has a current ratio of 0.87, a quick ratio of 0.78 and a debt-to-equity ratio of 0.53.

Insider Buying and Selling at SkyWater Technology

In other news, Director Loren A. Unterseher sold 7,761 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was 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 $118,714,067.28. This represents a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 42.55% of the company’s stock.

Institutional Investors Weigh In On SkyWater Technology

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

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.