SkyWater Technology (NASDAQ:SKYT – Get Free Report) had its price objective cut by equities researchers at Piper Sandler from $18.00 to $9.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s target price indicates a potential upside of 54.37% from the company’s previous close.
Separately, Needham & Company LLC decreased their target price on shares of SkyWater Technology from $20.00 to $13.00 and set a “buy” rating for the company in a research report on Thursday.
SkyWater Technology Trading Up 6.2 %
Insiders Place Their Bets
In related news, CRO Mark Litecky sold 13,711 shares of SkyWater Technology stock in a transaction on Monday, August 14th. The shares were sold at an average price of $7.26, for a total value of $99,541.86. Following the completion of the sale, the executive now owns 347,411 shares of the company’s stock, valued at approximately $2,522,203.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 14,676 shares of company stock worth $106,548. Corporate insiders own 50.34% of the company’s stock.
Institutional Trading of SkyWater Technology
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SKYT. Allspring Global Investments Holdings LLC grew its position in SkyWater Technology by 98.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,395 shares of the company’s stock worth $32,000 after purchasing an additional 1,681 shares in the last quarter. Point72 Middle East FZE purchased a new stake in shares of SkyWater Technology during the second quarter valued at approximately $32,000. BerganKDV Wealth Management LLC bought a new stake in SkyWater Technology during the second quarter worth $33,000. Tower Research Capital LLC TRC boosted its holdings in shares of SkyWater Technology by 47.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,736 shares of the company’s stock worth $29,000 after buying an additional 1,201 shares during the last quarter. Finally, PNC Financial Services Group Inc. purchased a new position in SkyWater Technology in the first quarter valued at about $43,000. 19.50% of the stock is owned by institutional investors.
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 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, micro-electromechanical systems, and rad-hard integrated circuits.
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