SkyWater Technology (NASDAQ:SKYT) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of SkyWater Technology (NASDAQ:SKYT) to a hold rating in a research note issued to investors on Tuesday,Zacks.com reports.

SKYT has been the subject of a number of other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of SkyWater Technology in a research note on Wednesday, October 8th. Stifel Nicolaus began coverage on SkyWater Technology in a research note on Tuesday, October 21st. They issued a “buy” rating and a $25.00 target price for the company. Needham & Company LLC lifted their price target on SkyWater Technology from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Finally, Wall Street Zen upgraded SkyWater Technology from a “sell” rating to a “hold” rating in a report on Friday, September 5th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $17.33.

SkyWater Technology Stock Down 1.7%

Shares of NASDAQ SKYT opened at $16.59 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 0.97 and a debt-to-equity ratio of 0.68. SkyWater Technology has a 12 month low of $5.67 and a 12 month high of $20.85. The firm has a market capitalization of $799.31 million, a PE ratio of -48.79 and a beta of 3.51. The firm has a fifty day simple moving average of $14.90 and a two-hundred day simple moving average of $11.22.

Insider Transactions at SkyWater Technology

In other SkyWater Technology news, Director Loren A. Unterseher sold 756,516 shares of SkyWater Technology stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $12.06, for a total transaction of $9,123,582.96. Following the completion of the transaction, the director owned 8,161,012 shares in the company, valued at approximately $98,421,804.72. The trade was a 8.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 3,402,446 shares of company stock worth $41,689,461 in the last three months. 37.85% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SkyWater Technology

A number of hedge funds have recently bought and sold shares of SKYT. Federated Hermes Inc. purchased a new stake in SkyWater Technology during the 2nd quarter valued at about $25,000. BNP Paribas Financial Markets lifted its stake in shares of SkyWater Technology by 56.4% in the second quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company’s stock worth $27,000 after buying an additional 991 shares in the last quarter. Financial Management Professionals Inc. purchased a new stake in shares of SkyWater Technology during the second quarter valued at approximately $32,000. GAMMA Investing LLC increased its position in shares of SkyWater Technology by 941.3% during the first quarter. GAMMA Investing LLC now owns 4,613 shares of the company’s stock valued at $33,000 after acquiring an additional 4,170 shares in the last quarter. Finally, CWM LLC lifted its position in SkyWater Technology by 320.2% in the 1st quarter. CWM LLC now owns 5,719 shares of the company’s stock valued at $41,000 after acquiring an additional 4,358 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

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.