SkyWater Technology, Inc. (NASDAQ:SKYT) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• SkyWater Technology, Inc. has an average rating of "Moderate Buy" from analysts, with one sell recommendation and four buy recommendations.
• The average 12-month price target for SkyWater Technology shares is $16.00, reflecting a positive outlook among analysts.
• In recent insider trading, Director Loren A. Unterseher sold over 756,000 shares of the company's stock, indicating a notable transaction valued at approximately $9.1 million.

Shares of SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) have received an average rating of "Moderate Buy" from the five analysts that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $16.00.

A number of research firms recently issued reports on SKYT. Wall Street Zen upgraded shares of SkyWater Technology from a "sell" rating to a "hold" rating in a research report on Friday, September 5th. Needham & Company LLC lifted their price objective on SkyWater Technology from $11.00 to $15.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Stifel Nicolaus initiated coverage on SkyWater Technology in a research note on Tuesday. They issued a "buy" rating and a $25.00 target price on the stock. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of SkyWater Technology in a report on Wednesday, October 8th.

SkyWater Technology Trading Down 1.7%

Shares of SkyWater Technology stock opened at $15.63 on Wednesday. The firm's 50 day simple moving average is $14.16 and its two-hundred day simple moving average is $10.73. The firm has a market capitalization of $753.05 million, a price-to-earnings ratio of -45.97 and a beta of 3.51. SkyWater Technology has a 12-month low of $5.67 and a 12-month high of $20.85. The company has a current ratio of 1.06, a quick ratio of 0.97 and a debt-to-equity ratio of 0.68.

Insiders Place Their Bets

In other SkyWater Technology news, Director Loren A. Unterseher sold 756,516 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $12.06, for a total value of $9,123,582.96. Following the sale, the director directly owned 8,161,012 shares of the company's stock, valued at approximately $98,421,804.72. This trade represents a 8.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 3,402,446 shares of company stock valued at $41,689,461 over the last three months. 37.85% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SkyWater Technology

Hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets lifted 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 worth $27,000 after buying an additional 991 shares in the last quarter. NewEdge Advisors LLC raised its holdings in SkyWater Technology by 15.4% in the 2nd quarter. NewEdge Advisors LLC now owns 9,350 shares of the company's stock valued at $92,000 after acquiring an additional 1,250 shares during the last quarter. Deutsche Bank AG lifted its stake in SkyWater Technology by 1.6% in the 1st quarter. Deutsche Bank AG now owns 84,977 shares of the company's stock worth $602,000 after purchasing an additional 1,372 shares in the last quarter. CWM LLC boosted its holdings in shares of SkyWater Technology by 291.3% during the 3rd quarter. CWM LLC now owns 3,138 shares of the company's stock worth $59,000 after purchasing an additional 2,336 shares during the last quarter. Finally, Federated Hermes Inc. acquired a new position in shares of SkyWater Technology during the 2nd quarter worth approximately $25,000. Institutional investors and hedge funds own 70.00% of the company's stock.

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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