SkyWater Technology, Inc. (NASDAQ:SKYT) Receives Average Recommendation of "Reduce" from Brokerages

Key Points

• Analysts give SkyWater a consensus rating of "Reduce" across eight firms (2 sell, 5 hold, 1 buy) with an average 1‑year price target of $32.00.
• CFO Steve Manko sold 91,109 shares on March 16 at an average $27.84 (~$2.54M), trimming his stake by 29.75%; company insiders own 37.85% of the stock.
• In the latest quarter SkyWater missed EPS (‑$0.03 vs. ‑$0.01 est.) while revenue rose 13.5% to $171.0M and the stock trades around $31.39 (1‑year range $6.34–$36.27).

Shares of SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) have earned a consensus rating of "Reduce" from the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $32.00.

Several brokerages have issued reports on SKYT. Craig Hallum downgraded shares of SkyWater Technology from a "buy" rating to a "hold" rating and set a $35.00 price objective on the stock. in a research report on Tuesday, January 27th. Weiss Ratings reissued a "sell (e+)" rating on shares of SkyWater Technology in a research report on Friday, March 27th. Zacks Research downgraded shares of SkyWater Technology from a "hold" rating to a "strong sell" rating in a research report on Wednesday, March 4th. TD Cowen downgraded shares of SkyWater Technology from a "buy" rating to a "hold" rating and raised their price objective for the stock from $24.00 to $35.00 in a research report on Tuesday, January 27th. Finally, Needham & Company LLC downgraded shares of SkyWater Technology from a "buy" rating to a "hold" rating in a research report on Monday, January 26th.

Insider Activity at SkyWater Technology

In other news, CFO Steve Manko sold 91,109 shares of the firm's stock in a transaction on Monday, March 16th. The shares were sold at an average price of $27.84, for a total value of $2,536,474.56. Following the completion of the sale, the chief financial officer owned 215,166 shares in the company, valued at approximately $5,990,221.44. This trade represents a 29.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 37.85% of the company's stock.

Institutional Trading of SkyWater Technology

Several hedge funds have recently made changes to their positions in SKYT. Quarry LP acquired a new stake in shares of SkyWater Technology in the 4th quarter worth $25,000. Federated Hermes Inc. acquired a new stake in shares of SkyWater Technology in the 2nd quarter worth $25,000. BNP Paribas Financial Markets lifted its stake in shares of SkyWater Technology by 56.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company's stock worth $27,000 after acquiring an additional 991 shares during the period. State of Wyoming acquired a new stake in shares of SkyWater Technology in the 4th quarter worth $35,000. Finally, Russell Investments Group Ltd. lifted its stake 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 acquiring an additional 2,198 shares during the period. Institutional investors and hedge funds own 70.00% of the company's stock.

SkyWater Technology Trading Up 7.9%

Shares of SkyWater Technology stock opened at $31.39 on Wednesday. SkyWater Technology has a 1 year low of $6.34 and a 1 year high of $36.27. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.52 and a current ratio of 0.60. The company has a market capitalization of $1.54 billion, a P/E ratio of 12.92 and a beta of 3.47. The company's fifty day moving average is $28.67 and its two-hundred day moving average is $23.54.

SkyWater Technology (NASDAQ:SKYT - Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.02). SkyWater Technology had a negative return on equity of 6.89% and a net margin of 26.90%.The business had revenue of $171.04 million for the quarter, compared to analysts' expectations of $160.05 million. During the same period in the previous year, the business posted $0.04 earnings per share. The company's revenue for the quarter was up 13.5% on a year-over-year basis. Analysts forecast that SkyWater Technology will post -0.22 earnings per share for the current year.

SkyWater Technology Company Profile

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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