SkyWater Technology (NASDAQ:SKYT) Stock Price Up 9.9% - Time to Buy?

SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) shares traded up 9.9% during trading on Thursday . The company traded as high as $10.47 and last traded at $10.42. 722,837 shares changed hands during trading, an increase of 19% from the average session volume of 609,187 shares. The stock had previously closed at $9.48.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. TD Cowen cut their target price on SkyWater Technology from $15.00 to $12.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Needham & Company LLC cut their target price on SkyWater Technology from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th.

SkyWater Technology Stock Performance

The firm has a market capitalization of $475.02 million, a P/E ratio of -58.17 and a beta of 3.44. The firm has a 50-day moving average price of $8.44 and a two-hundred day moving average price of $9.37. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.18 and a quick ratio of 1.07.

Insider Transactions at SkyWater Technology

In other news, CEO Thomas Sonderman sold 14,958 shares of the firm's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $10.04, for a total transaction of $150,178.32. Following the transaction, the chief executive officer now owns 565,465 shares in the company, valued at approximately $5,677,268.60. This trade represents a 2.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Loren A. Unterseher sold 3,144 shares of the firm's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $9.35, for a total value of $29,396.40. Following the transaction, the director now owns 10,564,829 shares in the company, valued at approximately $98,781,151.15. This represents a 0.03% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 729,982 shares of company stock worth $6,933,545. 37.85% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SkyWater Technology

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of SkyWater Technology by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 1,448,738 shares of the company's stock valued at $19,993,000 after buying an additional 40,060 shares during the period. Emerald Advisers LLC increased its stake in shares of SkyWater Technology by 1.3% during the first quarter. Emerald Advisers LLC now owns 1,000,716 shares of the company's stock valued at $7,095,000 after buying an additional 12,562 shares during the period. Emerald Mutual Fund Advisers Trust increased its stake in shares of SkyWater Technology by 0.4% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 602,297 shares of the company's stock valued at $4,270,000 after buying an additional 2,555 shares during the period. AQR Capital Management LLC increased its stake in shares of SkyWater Technology by 112.0% during the first quarter. AQR Capital Management LLC now owns 313,993 shares of the company's stock valued at $2,226,000 after buying an additional 165,865 shares during the period. Finally, Lountzis Asset Management LLC increased its stake in shares of SkyWater Technology by 1.6% during the first quarter. Lountzis Asset Management LLC now owns 291,940 shares of the company's stock valued at $2,146,000 after buying an additional 4,618 shares during the period. Hedge funds and other institutional investors 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.