SkyWater Technology Target of Unusually High Options Trading (NASDAQ:SKYT)

SkyWater Technology, Inc. (NASDAQ:SKYT) saw some unusual options trading activity on Thursday. Traders acquired 5,193 call options on the stock. This represents an increase of approximately 90% compared to the typical volume of 2,727 call options.

SkyWater Technology Price Performance

NASDAQ SKYT opened at $15.40 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.06 and a quick ratio of 0.97. The firm has a market capitalization of $741.97 million, a price-to-earnings ratio of -45.29 and a beta of 3.41. The company has a 50 day simple moving average of $11.46 and a 200-day simple moving average of $9.40. SkyWater Technology has a 52-week low of $5.67 and a 52-week high of $19.00.

Insider Activity at SkyWater Technology

In other news, CEO Thomas Sonderman sold 8,355 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $10.58, for a total transaction of $88,395.90. Following the completion of the sale, the chief executive officer owned 532,174 shares in the company, valued at approximately $5,630,400.92. This represents a 1.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Steve Manko sold 43,383 shares of SkyWater Technology stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $15.13, for a total value of $656,384.79. Following the completion of the transaction, the chief financial officer owned 368,407 shares in the company, valued at $5,573,997.91. The trade was a 10.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,221,247 shares of company stock valued at $38,461,969 over the last ninety days. Insiders own 37.85% of the company’s stock.

Institutional Investors Weigh In On SkyWater Technology

A number of institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its holdings in shares of SkyWater Technology by 56.4% during the second quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company’s stock worth $27,000 after acquiring an additional 991 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of SkyWater Technology by 15.4% in the 2nd quarter. NewEdge Advisors LLC now owns 9,350 shares of the company’s stock valued at $92,000 after buying an additional 1,250 shares in the last quarter. Deutsche Bank AG grew its stake in shares of SkyWater Technology by 1.6% in the 1st quarter. Deutsche Bank AG now owns 84,977 shares of the company’s stock valued at $602,000 after buying an additional 1,372 shares in the last quarter. Federated Hermes Inc. bought a new position in SkyWater Technology during the second quarter valued at approximately $25,000. Finally, Emerald Mutual Fund Advisers Trust raised its position in SkyWater Technology by 0.4% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 602,297 shares of the company’s stock valued at $4,270,000 after acquiring an additional 2,555 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

SKYT has been the subject of a number of recent analyst reports. Wall Street Zen upgraded SkyWater Technology from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. Needham & Company LLC lifted their target price on shares of SkyWater Technology from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $13.00.

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.