SkyWater Technology, Inc. (NASDAQ:SKYT) Receives Average Recommendation of “Buy” from Analysts

Shares of SkyWater Technology, Inc. (NASDAQ:SKYT – Get Rating) have earned an average rating of “Buy” from the six analysts that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $15.60.

Several brokerages recently issued reports on SKYT. Craig Hallum began coverage on SkyWater Technology in a research note on Tuesday, April 26th. They set a “buy” rating and a $10.00 price objective on the stock. Zacks Investment Research upgraded SkyWater Technology from a “sell” rating to a “hold” rating in a research note on Tuesday. Needham & Company LLC reduced their price objective on SkyWater Technology from $25.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, February 24th. Cowen reduced their price objective on SkyWater Technology from $25.00 to $20.00 in a research note on Thursday, February 24th. Finally, Piper Sandler reduced their price objective on SkyWater Technology from $15.00 to $10.00 in a research note on Wednesday, May 4th.

In other SkyWater Technology news, CFO Steve Manko sold 25,200 shares of the stock in a transaction on Tuesday, March 8th. The stock was sold at an average price of $10.25, for a total value of $258,300.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Thomas Sonderman sold 9,192 shares of the firm’s stock in a transaction on Monday, May 9th. The shares were sold at an average price of $5.74, for a total value of $52,762.08. Following the transaction, the chief executive officer now directly owns 538,536 shares in the company, valued at $3,091,196.64. The disclosure for this sale can be found here. Insiders sold 36,203 shares of company stock worth $321,457 over the last ninety days.

Several institutional investors and hedge funds have recently modified their holdings of SKYT. Moors & Cabot Inc. acquired a new position in shares of SkyWater Technology during the third quarter valued at $25,000. Citigroup Inc. increased its holdings in shares of SkyWater Technology by 99.6% during the third quarter. Citigroup Inc. now owns 954 shares of the company’s stock valued at $26,000 after purchasing an additional 476 shares during the period. Royal Bank of Canada increased its holdings in shares of SkyWater Technology by 60.7% during the third quarter. Royal Bank of Canada now owns 1,355 shares of the company’s stock valued at $36,000 after purchasing an additional 512 shares during the period. PNC Financial Services Group Inc. acquired a new position in shares of SkyWater Technology during the first quarter valued at $43,000. Finally, Legal & General Group Plc increased its holdings in shares of SkyWater Technology by 232.7% during the fourth quarter. Legal & General Group Plc now owns 2,698 shares of the company’s stock valued at $44,000 after purchasing an additional 1,887 shares during the period. 17.24% of the stock is currently owned by institutional investors.

SkyWater Technology stock opened at $5.08 on Friday. The stock has a market cap of $202.72 million and a P/E ratio of -3.04. The company has a current ratio of 1.56, a quick ratio of 1.19 and a debt-to-equity ratio of 0.97. The stock has a 50 day moving average of $8.01 and a 200-day moving average of $12.28. SkyWater Technology has a 52 week low of $4.73 and a 52 week high of $36.80.

SkyWater Technology (NASDAQ:SKYT – Get Rating) last released its earnings results on Tuesday, February 22nd. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.07. The company had revenue of $38.53 million during the quarter, compared to analysts’ expectations of $36.10 million. SkyWater Technology had a negative return on equity of 70.23% and a negative net margin of 39.60%. As a group, equities analysts predict that SkyWater Technology will post -1.33 earnings per share for the current fiscal year.

About SkyWater Technology (Get Rating)

SkyWater Technology, Inc, together with its subsidiaries, provides semiconductor development and manufacturing services. 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, power discrete, microelectromechanical systems, and rad-hard integrated circuits.

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