Investors Purchase High Volume of SkyWater Technology Call Options (NASDAQ:SKYT)

Key Points

• SkyWater Technology, Inc. experienced a significant surge in call options trading, with 5,193 call options bought, marking an approximate 90% increase over the average volume.
• The stock was trading at $15.13, with a market capitalization of nearly $729 million, and a price-to-earnings ratio of -44.88.
• Recent analyst reports show a shift in ratings for SKYT, with Needham & Company increasing its price target from $11.00 to $15.00 and rating the stock as a "buy".

SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) saw unusually large options trading on Thursday. Stock traders bought 5,193 call options on the stock. This is an increase of approximately 90% compared to the average volume of 2,727 call options.

SkyWater Technology Price Performance

SkyWater Technology stock traded down $0.17 during trading hours on Thursday, hitting $15.13. The stock had a trading volume of 477,420 shares, compared to its average volume of 858,014. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.06 and a quick ratio of 0.97. The stock has a market capitalization of $728.96 million, a price-to-earnings ratio of -44.88 and a beta of 3.41. SkyWater Technology has a 1-year low of $5.67 and a 1-year high of $19.00. The stock's fifty day moving average is $11.36 and its two-hundred day moving average is $9.35.

Wall Street Analyst Weigh In

SKYT has been the topic of a number of recent research reports. Wall Street Zen raised SkyWater Technology from a "sell" rating to a "hold" rating in a report on Friday, September 5th. Needham & Company LLC upped their price objective on SkyWater Technology from $11.00 to $15.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $13.00.

Insider Buying and Selling

In other SkyWater Technology news, Director Loren A. Unterseher sold 756,516 shares of SkyWater Technology stock in a transaction that occurred 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 transaction, the director owned 8,161,012 shares of the company's stock, valued at $98,421,804.72. The trade was a 8.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 3,221,247 shares of company stock worth $38,461,969 over the last quarter. Insiders own 37.85% of the company's stock.

Institutional Trading of SkyWater Technology

Institutional investors and hedge funds have recently made changes to their positions in the stock. Federated Hermes Inc. purchased a new stake in shares of SkyWater Technology in the second quarter valued at $25,000. BNP Paribas Financial Markets lifted its position 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 acquiring an additional 991 shares in the last quarter. Financial Management Professionals Inc. purchased a new stake in shares of SkyWater Technology in the second quarter valued at $32,000. GAMMA Investing LLC lifted its position in shares of SkyWater Technology by 941.3% in 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 shares of SkyWater Technology by 320.2% in the first 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. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

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.

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