SkyWater Technology (NASDAQ:SKYT) Trading Up 5.2%

SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report)'s stock price shot up 5.2% on Tuesday . The company traded as high as $10.80 and last traded at $10.79. 140,241 shares changed hands during trading, a decline of 65% from the average session volume of 399,724 shares. The stock had previously closed at $10.26.

Analyst Ratings Changes

Several equities research analysts have weighed in on SKYT shares. Needham & Company LLC increased their price target on shares of SkyWater Technology from $13.00 to $15.00 and gave the company a "buy" rating in a research report on Tuesday, February 27th. Piper Sandler lifted their price objective on SkyWater Technology from $9.00 to $14.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 27th. Finally, TD Cowen boosted their target price on SkyWater Technology from $12.00 to $15.00 and gave the company an "outperform" rating in a research note on Tuesday, February 27th.

SkyWater Technology Price Performance

The stock has a market cap of $485.71 million, a PE ratio of -15.58 and a beta of 4.29. The business has a fifty day simple moving average of $10.19 and a two-hundred day simple moving average of $8.62. The company has a current ratio of 1.02, a quick ratio of 0.91 and a debt-to-equity ratio of 0.59.

SkyWater Technology (NASDAQ:SKYT - Get Free Report) last issued its quarterly earnings results on Monday, February 26th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.12. The company had revenue of $79.15 million for the quarter, compared to analysts' expectations of $74.90 million. SkyWater Technology had a negative return on equity of 30.58% and a negative net margin of 10.73%. Research analysts forecast that SkyWater Technology, Inc. will post -0.05 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Thomas Sonderman sold 18,989 shares of the business's stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $10.01, for a total transaction of $190,079.89. Following the sale, the chief executive officer now owns 498,413 shares of the company's stock, valued at $4,989,114.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Thomas Sonderman sold 18,989 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $10.01, for a total value of $190,079.89. Following the sale, the chief executive officer now directly owns 498,413 shares of the company's stock, valued at $4,989,114.13. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Loren A. Unterseher sold 368,709 shares of SkyWater Technology stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $12.14, for a total value of $4,476,127.26. Following the completion of the transaction, the director now directly owns 13,022,293 shares of the company's stock, valued at approximately $158,090,637.02. The disclosure for this sale can be found here. Insiders sold a total of 398,218 shares of company stock worth $4,787,187 in the last three months. 42.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SkyWater Technology

A number of hedge funds have recently added to or reduced their stakes in SKYT. Nisa Investment Advisors LLC bought a new stake in shares of SkyWater Technology in the 4th quarter worth $42,000. Tower Research Capital LLC TRC increased its holdings in SkyWater Technology by 622.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,712 shares of the company's stock worth $55,000 after buying an additional 4,921 shares in the last quarter. Blue Trust Inc. purchased a new position in SkyWater Technology in the 4th quarter worth about $72,000. Arlington Capital Management Inc. purchased a new position in SkyWater Technology in the 1st quarter worth about $107,000. Finally, Olympiad Research LP purchased a new stake in shares of SkyWater Technology during the 4th quarter valued at about $108,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

SkyWater Technology Company Profile

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.