Brokerages Set SkyWater Technology, Inc. (NASDAQ:SKYT) PT at $32.00

Shares of SkyWater Technology, Inc. (NASDAQ:SKYT) have been given a consensus recommendation of “Hold” by the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $32.00.

A number of equities research analysts have recently weighed in on the stock. Zacks Research raised shares of SkyWater Technology from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Weiss Ratings restated a “sell (e+)” rating on shares of SkyWater Technology in a report on Wednesday, June 24th.

SkyWater Technology Stock Performance

NASDAQ:SKYT opened at $30.62 on Friday. The stock has a market cap of $1.51 billion, a P/E ratio of 13.14 and a beta of 3.34. The firm’s fifty day simple moving average is $35.05 and its 200 day simple moving average is $32.04. SkyWater Technology has a twelve month low of $8.49 and a twelve month high of $39.93. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.17.

SkyWater Technology (NASDAQ:SKYT) last issued its quarterly earnings data on Friday, May 8th. The company reported ($0.25) EPS for the quarter. SkyWater Technology had a negative return on equity of 7.88% and a net margin of 21.04%.The company had revenue of $160.69 million during the quarter. As a group, research analysts predict that SkyWater Technology will post -0.42 EPS for the current year.

Insider Buying and Selling at SkyWater Technology

In other news, CFO Steve Manko sold 75,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $35.08, for a total value of $2,631,000.00. Following the completion of the transaction, the chief financial officer owned 96,567 shares of the company’s stock, valued at approximately $3,387,570.36. This represents a 43.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 22.56% of the company’s stock.

Institutional Investors Weigh In On SkyWater Technology

Hedge funds have recently made changes to their positions in the company. KBC Group NV bought a new position in SkyWater Technology in the first quarter worth $27,000. Quarry LP bought a new stake in shares of SkyWater Technology during the 4th quarter valued at $25,000. State of Wyoming bought a new stake in shares of SkyWater Technology during the 4th quarter valued at $35,000. Russell Investments Group Ltd. grew its position in shares of SkyWater Technology by 814.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,468 shares of the company’s stock worth $46,000 after buying an additional 2,198 shares during the period. Finally, Federated Hermes Inc. purchased a new stake in shares of SkyWater Technology in the 2nd quarter worth about $25,000. 70.00% of the stock is currently owned by institutional investors.

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.