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

Shares of SkyWater Technology, Inc. (NASDAQ:SKYT) have been given an average recommendation of “Reduce” by the eight ratings firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $32.00.

SKYT has been the topic of a number of recent research reports. Stifel Nicolaus set a $35.00 price target on SkyWater Technology 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. Zacks Research cut SkyWater Technology from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 4th. TD Cowen cut SkyWater Technology from a “buy” rating to a “hold” rating and upped their price target for the stock from $24.00 to $35.00 in a research report on Tuesday, January 27th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of SkyWater Technology in a research report on Friday, March 27th.

Insider Buying and Selling

In other news, CFO Steve Manko sold 91,109 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $27.84, for a total value of $2,536,474.56. Following the completion of the sale, the chief financial officer directly owned 215,166 shares of the company’s stock, valued at $5,990,221.44. This trade represents a 29.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 37.85% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of SkyWater Technology in the 4th quarter valued at $91,000. Invesco Ltd. boosted its position in shares of SkyWater Technology by 33.1% in 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 in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of SkyWater Technology in the 4th quarter worth $431,000. Inspire Investing LLC lifted its position in SkyWater Technology by 2.5% during the 4th quarter. Inspire Investing LLC now owns 25,460 shares of the company’s stock worth $462,000 after acquiring an additional 612 shares during the period. Finally, Janus Henderson Group PLC acquired a new stake in SkyWater Technology during the 4th quarter worth about $289,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

SkyWater Technology Price Performance

SKYT opened at $32.89 on Wednesday. The stock has a market capitalization of $1.62 billion, a PE ratio of 13.54 and a beta of 3.47. The stock’s 50 day moving average price is $28.85 and its 200-day moving average price is $23.76. SkyWater Technology has a 52-week low of $6.34 and a 52-week high of $36.27. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.52 and a current ratio of 0.60.

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

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.