Shares of SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) saw unusually-high trading volume on Friday after Needham & Company LLC raised their price target on the stock from $11.00 to $15.00. Needham & Company LLC currently has a buy rating on the stock. Approximately 1,580,013 shares traded hands during mid-day trading, an increase of 120% from the previous session's volume of 717,765 shares.The stock last traded at $14.13 and had previously closed at $12.85.
Separately, TD Cowen decreased their price objective on shares of SkyWater Technology from $15.00 to $12.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th.
Check Out Our Latest Research Report on SKYT
Insider Activity
In related news, Director Loren A. Unterseher sold 366,418 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $9.54, for a total transaction of $3,495,627.72. Following the transaction, the director owned 10,660,365 shares in the company, valued at $101,699,882.10. The trade was a 3.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas Sonderman sold 14,958 shares of the business's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $10.04, for a total transaction of $150,178.32. Following the transaction, the chief executive officer owned 565,465 shares in the company, valued at $5,677,268.60. This represents a 2.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 729,982 shares of company stock worth $6,933,545 in the last quarter. 37.85% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On SkyWater Technology
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of SkyWater Technology by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 1,448,738 shares of the company's stock worth $19,993,000 after buying an additional 40,060 shares in the last quarter. Franklin Resources Inc. bought a new position in shares of SkyWater Technology in the fourth quarter worth approximately $546,000. Wells Fargo & Company MN lifted its stake in shares of SkyWater Technology by 51.1% in the fourth quarter. Wells Fargo & Company MN now owns 12,826 shares of the company's stock worth $177,000 after buying an additional 4,338 shares in the last quarter. Summit Investment Advisors Inc. lifted its stake in shares of SkyWater Technology by 64.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,849 shares of the company's stock worth $39,000 after buying an additional 1,113 shares in the last quarter. Finally, Barclays PLC lifted its stake in shares of SkyWater Technology by 27.7% in the fourth quarter. Barclays PLC now owns 60,260 shares of the company's stock worth $832,000 after buying an additional 13,056 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company's stock.
SkyWater Technology Trading Up 11.9%
The stock has a market cap of $690.98 million, a P/E ratio of -42.31 and a beta of 3.38. The firm's 50 day moving average price is $9.71 and its 200-day moving average price is $8.83. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.18 and a quick ratio of 1.07.
About SkyWater Technology
(
Get Free Report)
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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