SkyWater Technology, Inc. (NASDAQ:SKYT) Receives $32.00 Average PT from Analysts

Shares of SkyWater Technology, Inc. (NASDAQ:SKYT) have received a consensus rating of “Reduce” from the eight ratings firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $32.00.

Several analysts have recently issued reports on the company. Piper Sandler downgraded SkyWater Technology from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $17.00 to $35.00 in a research report on Monday, January 26th. Needham & Company LLC cut SkyWater Technology from a “buy” rating to a “hold” rating in a research report on Monday, January 26th. Stifel Nicolaus set a $35.00 target price on shares of SkyWater Technology in a research note on Monday, January 26th. Zacks Research lowered shares of SkyWater Technology from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 4th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of SkyWater Technology in a report on Monday, December 29th.

SkyWater Technology Trading Up 6.2%

Shares of SKYT opened at $29.24 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.60 and a quick ratio of 0.52. SkyWater Technology has a 1-year low of $5.67 and a 1-year high of $36.27. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 12.03 and a beta of 3.52. The firm has a 50 day simple moving average of $29.96 and a 200-day simple moving average of $21.78.

SkyWater Technology (NASDAQ:SKYT) last posted its earnings results on Wednesday, February 25th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). The company had revenue of $171.04 million during the quarter, compared to analysts’ expectations of $160.05 million. SkyWater Technology had a net margin of 26.90% and a negative return on equity of 6.89%. SkyWater Technology’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.04 EPS. Equities analysts forecast that SkyWater Technology will post -0.22 EPS for the current fiscal year.

Insider Buying and Selling at SkyWater Technology

In other news, CFO Steve Manko sold 91,109 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $27.84, for a total value of $2,536,474.56. Following the completion of the transaction, the chief financial officer owned 215,166 shares of the company’s stock, valued at $5,990,221.44. The trade was a 29.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 37.85% of the stock is currently owned by corporate insiders.

Institutional Trading of SkyWater Technology

A number of hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new stake in SkyWater Technology in the 4th quarter worth approximately $91,000. Invesco Ltd. lifted its stake in shares of SkyWater Technology by 33.1% during the 4th quarter. Invesco Ltd. now owns 21,362 shares of the company’s stock worth $388,000 after purchasing an additional 5,317 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new position in shares of SkyWater Technology during the 4th quarter worth $431,000. Inspire Investing LLC boosted its holdings in shares of SkyWater Technology by 2.5% during the fourth quarter. Inspire Investing LLC now owns 25,460 shares of the company’s stock worth $462,000 after purchasing an additional 612 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new stake in shares of SkyWater Technology during the fourth quarter worth $289,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

About SkyWater Technology

SkyWater Technology Solutions, Inc is a U.S.-based specialty semiconductor foundry headquartered in Bloomington, Minnesota. The company focuses on the development and manufacture of high-reliability integrated circuits using advanced processes on 200-millimeter wafers.

SkyWater’s service offerings span analog/mixed-signal, radio frequency (RF), micro-electromechanical systems (MEMS) and advanced packaging technologies. Its turnkey model includes multi-project wafer (MPW) runs, volume production, design enablement support and assembly and test services, enabling customers to take concepts from prototype to market.

Serving aerospace, defense, automotive, industrial, medical and communications sectors, SkyWater supports applications that demand rigorous performance, quality and traceability.