Shares of SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) shot up 6.4% on Friday . The company traded as high as $10.66 and last traded at $10.84. 601,815 shares were traded during mid-day trading, a decline of 24% from the average session volume of 796,809 shares. The stock had previously closed at $10.19.
Analyst Ratings Changes
A number of brokerages have recently weighed in on SKYT. Needham & Company LLC increased their price objective on SkyWater Technology from $11.00 to $15.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Wall Street Zen raised SkyWater Technology from a "sell" rating to a "hold" rating in a report on Friday, September 5th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $13.00.
Read Our Latest Research Report on SkyWater Technology
SkyWater Technology Stock Performance
The stock has a market capitalization of $515.14 million, a price-to-earnings ratio of -31.48 and a beta of 3.41. The firm has a fifty day moving average of $10.83 and a 200 day moving average of $9.08. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.06 and a quick ratio of 0.97.
Insider Transactions at SkyWater Technology
In other SkyWater Technology news, Director Loren A. Unterseher sold 756,516 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $12.06, for a total transaction of $9,123,582.96. Following the transaction, the director owned 8,161,012 shares in the company, valued at approximately $98,421,804.72. This represents a 8.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 2,883,846 shares of company stock worth $34,405,183 in the last quarter. Corporate insiders own 37.85% of the company's stock.
Hedge Funds Weigh In On SkyWater Technology
A number of hedge funds have recently bought and sold shares of the business. Ameriprise Financial Inc. boosted its position in SkyWater Technology by 15.7% during the second quarter. Ameriprise Financial Inc. now owns 1,693,056 shares of the company's stock worth $16,660,000 after purchasing an additional 229,954 shares in the last quarter. Emerald Advisers LLC boosted its position in SkyWater Technology by 36.2% during the second quarter. Emerald Advisers LLC now owns 1,362,983 shares of the company's stock worth $13,412,000 after purchasing an additional 362,267 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its position in SkyWater Technology by 18.6% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 714,144 shares of the company's stock worth $7,027,000 after purchasing an additional 111,847 shares in the last quarter. AQR Capital Management LLC boosted its position in SkyWater Technology by 112.0% during the first quarter. AQR Capital Management LLC now owns 313,993 shares of the company's stock worth $2,226,000 after purchasing an additional 165,865 shares in the last quarter. Finally, Lountzis Asset Management LLC boosted its position in SkyWater Technology by 1.6% during the first quarter. Lountzis Asset Management LLC now owns 291,940 shares of the company's stock worth $2,146,000 after purchasing an additional 4,618 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company's stock.
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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