SkyWater Technology (NASDAQ:SKYT) Stock Price Down 2.6%

SkyWater Technology, Inc. (NASDAQ:SKYTGet Free Report) was down 2.6% during mid-day trading on Tuesday . The stock traded as low as $7.45 and last traded at $7.46. Approximately 161,710 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 429,696 shares. The stock had previously closed at $7.66.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SKYT shares. Craig Hallum reduced their target price on shares of SkyWater Technology from $16.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Needham & Company LLC reduced their target price on shares of SkyWater Technology from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th.

Get Our Latest Stock Analysis on SKYT

SkyWater Technology Stock Down 2.6 %

The firm’s 50 day moving average price is $8.09 and its 200-day moving average price is $9.17. The company has a market cap of $353.23 million, a P/E ratio of -10.81 and a beta of 3.94. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 0.60.

SkyWater Technology (NASDAQ:SKYTGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.03). SkyWater Technology had a negative return on equity of 32.59% and a negative net margin of 10.73%. The firm had revenue of $79.64 million for the quarter, compared to the consensus estimate of $80.00 million. As a group, equities research analysts expect that SkyWater Technology, Inc. will post -0.5 EPS for the current year.

Insider Buying and Selling

In related news, Director Nancy Fares sold 8,850 shares of SkyWater Technology stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $7.97, for a total transaction of $70,534.50. Following the transaction, the director now owns 32,073 shares of the company’s stock, valued at approximately $255,621.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other SkyWater Technology news, Director Gregory B. Graves sold 5,432 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $8.10, for a total transaction of $43,999.20. Following the sale, the director now directly owns 14,844 shares in the company, valued at approximately $120,236.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nancy Fares sold 8,850 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $7.97, for a total transaction of $70,534.50. Following the sale, the director now owns 32,073 shares in the company, valued at $255,621.81. The disclosure for this sale can be found here. 42.55% of the stock is owned by insiders.

Institutional Trading of SkyWater Technology

Hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC acquired a new stake in shares of SkyWater Technology in the fourth quarter valued at approximately $42,000. Tower Research Capital LLC TRC raised its holdings in shares of SkyWater Technology by 622.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,712 shares of the company’s stock valued at $55,000 after purchasing an additional 4,921 shares during the last quarter. Blue Trust Inc. acquired a new stake in shares of SkyWater Technology in the fourth quarter valued at approximately $72,000. Arlington Capital Management Inc. acquired a new stake in shares of SkyWater Technology in the first quarter valued at approximately $107,000. Finally, Olympiad Research LP acquired a new stake in shares of SkyWater Technology in the fourth quarter valued at approximately $108,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

SkyWater Technology Company Profile

(Get Free Report)

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.

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