SkyWater Technology, Inc. (NASDAQ:SKYT) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• SkyWater Technology has a consensus analyst rating of “Hold”, with eight analysts covering the stock: one sell, six hold, and one buy. The average 12-month price target is $32.00.
• The company’s latest quarterly results missed earnings expectations, reporting EPS of -$0.25 versus the expected -$0.08, though revenue came in above estimates at $160.69 million.
• SkyWater shares were up 2.0% to $33.72, and the stock has traded between a 1-year low of $7.46 and a high of $36.27. Insider activity also included a large stock sale by CFO Steve Manko under a pre-arranged trading plan.

Shares of SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) have been given a consensus rating of "Hold" by the eight analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $32.00.

Several research firms have recently commented on SKYT. Stifel Nicolaus set a $35.00 price objective on SkyWater Technology in a report on Monday, January 26th. Zacks Research upgraded SkyWater Technology from a "strong sell" rating to a "hold" rating in a research report on Monday, April 27th. Craig Hallum cut SkyWater Technology from a "buy" rating to a "hold" rating and set a $35.00 price target on the stock. in a research note on Tuesday, January 27th. Needham & Company LLC downgraded SkyWater Technology from a "buy" rating to a "hold" rating in a research report on Monday, January 26th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of SkyWater Technology in a research note on Friday, March 27th.

Insider Buying and Selling at SkyWater Technology

In other SkyWater Technology news, CFO Steve Manko sold 84,215 shares of the business's stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $30.41, for a total transaction of $2,560,978.15. Following the transaction, the chief financial officer directly owned 171,567 shares of the company's stock, valued at approximately $5,217,352.47. The trade was a 32.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 37.85% of the company's stock.

Hedge Funds Weigh In On SkyWater Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Inspire Investing LLC boosted its position in shares of SkyWater Technology by 2.5% in the 4th quarter. Inspire Investing LLC now owns 25,460 shares of the company's stock worth $462,000 after purchasing an additional 612 shares in the last quarter. KBC Group NV bought a new position in SkyWater Technology during the 1st quarter valued at approximately $27,000. BNP Paribas Financial Markets raised its stake in SkyWater Technology by 56.4% during 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 during the last quarter. NewEdge Advisors LLC raised its stake in SkyWater Technology by 10.7% during 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 during the last quarter. Finally, Quarry LP bought a new stake in SkyWater Technology in the fourth quarter worth $25,000. Hedge funds and other institutional investors own 70.00% of the company's stock.

SkyWater Technology Stock Up 2.0%

SKYT stock opened at $33.72 on Friday. The company's 50 day moving average is $29.80 and its 200 day moving average is $25.06. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 13.88 and a beta of 3.30. The company has a current ratio of 0.60, a quick ratio of 0.52 and a debt-to-equity ratio of 0.17. SkyWater Technology has a 1-year low of $7.46 and a 1-year high of $36.27.

SkyWater Technology (NASDAQ:SKYT - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.17). The company had revenue of $160.69 million during the quarter, compared to analysts' expectations of $146.31 million. SkyWater Technology had a negative return on equity of 6.89% and a net margin of 26.90%. Sell-side analysts predict that SkyWater Technology will post -0.42 EPS for the current fiscal 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.

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