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 seven analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $32.00.

A number of research analysts recently commented on SKYT shares. Needham & Company LLC cut SkyWater Technology from a “buy” rating to a “hold” rating in a report on Monday, January 26th. TD Cowen lowered SkyWater Technology from a “buy” rating to a “hold” rating and upped their price target for the company from $24.00 to $35.00 in a research note on Tuesday, January 27th. Piper Sandler downgraded SkyWater Technology from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $17.00 to $35.00 in a research report on Monday, January 26th. Weiss Ratings restated a “sell (e+)” rating on shares of SkyWater Technology in a report on Monday, December 29th. Finally, Craig Hallum lowered shares of SkyWater Technology from a “buy” rating to a “hold” rating and set a $35.00 target price for the company. in a research note on Tuesday, January 27th.

SkyWater Technology Stock Up 7.0%

Shares of SKYT opened at $30.83 on Tuesday. SkyWater Technology has a 52-week low of $5.67 and a 52-week high of $36.27. The company has a quick ratio of 0.61, a current ratio of 0.67 and a debt-to-equity ratio of 0.17. The stock has a fifty day simple moving average of $27.69 and a two-hundred day simple moving average of $19.66. The company has a market capitalization of $1.50 billion, a PE ratio of 12.69 and a beta of 3.51.

SkyWater Technology (NASDAQ:SKYT) last issued its earnings results on Wednesday, February 25th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). SkyWater Technology had a negative return on equity of 8.42% and a net margin of 26.90%.The firm had revenue of $171.04 million for the quarter, compared to analysts’ expectations of $160.05 million. During the same period last year, the firm earned $0.04 earnings per share. SkyWater Technology’s revenue for the quarter was up 13.5% on a year-over-year basis. As a group, equities analysts forecast that SkyWater Technology will post -0.22 EPS for the current year.

Hedge Funds Weigh In On SkyWater Technology

Hedge funds have recently made changes to their positions in the stock. Inspire Investing LLC raised its position in SkyWater Technology by 2.5% in the fourth quarter. Inspire Investing LLC now owns 25,460 shares of the company’s stock valued at $462,000 after purchasing an additional 612 shares during the period. BNP Paribas Financial Markets grew 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 valued at $27,000 after buying an additional 991 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of SkyWater Technology by 10.7% in the third quarter. NewEdge Advisors LLC now owns 10,350 shares of the company’s stock valued at $193,000 after buying an additional 1,000 shares in the last quarter. Quarry LP purchased a new stake in shares of SkyWater Technology in the 4th quarter valued at $25,000. Finally, State of Wyoming acquired a new position in SkyWater Technology during the 4th quarter worth about $35,000. Hedge funds and other institutional investors 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.