SkyWater Technology (NASDAQ:SKYT) Stock Price Up 10.2% - Should You Buy?

Key Points

• SkyWater Technology's stock price increased by 10.2% during mid-day trading, reaching $17.01, though trading volume was down 16% from average levels.
• Analysts have assigned a mixed outlook for the company, with ratings including a "buy" from Stifel Nicolaus with a $25.00 price target and a "sell" from Weiss Ratings, resulting in an overall "Moderate Buy" rating.
• Insider trading activity includes the sale of 120,370 shares by Director Loren A. Unterseher, as well as significant buying activity from institutional investors, who control 70.00% of the company's stock.

SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report)'s stock price rose 10.2% during mid-day trading on Thursday . The stock traded as high as $16.70 and last traded at $17.01. Approximately 829,431 shares were traded during trading, a decline of 16% from the average daily volume of 991,236 shares. The stock had previously closed at $15.43.

Analyst Ratings Changes

SKYT has been the subject of several research reports. Stifel Nicolaus started coverage on SkyWater Technology in a research note on Tuesday. They set a "buy" rating and a $25.00 price target for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of SkyWater Technology in a research note on Wednesday, October 8th. Wall Street Zen raised shares of SkyWater Technology from a "sell" rating to a "hold" rating in a research note on Friday, September 5th. Finally, Needham & Company LLC boosted their target price on shares of SkyWater Technology from $11.00 to $15.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $16.00.

SkyWater Technology Stock Up 10.1%

The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.97 and a current ratio of 1.06. The company has a market cap of $818.34 million, a PE ratio of -49.76 and a beta of 3.51. The firm has a fifty day simple moving average of $14.23 and a 200 day simple moving average of $10.76.

Insider Buying and Selling at SkyWater Technology

In other SkyWater Technology news, Director Loren A. Unterseher sold 120,370 shares of SkyWater Technology stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $18.02, for a total value of $2,169,067.40. Following the completion of the sale, the director owned 6,811,256 shares in the company, valued at $122,738,833.12. The trade was a 1.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas Sonderman sold 8,355 shares of SkyWater Technology stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $10.58, for a total value of $88,395.90. Following the completion of the sale, the chief executive officer owned 532,174 shares of the company's stock, valued at $5,630,400.92. This trade represents a 1.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,402,446 shares of company stock worth $41,689,461 in the last 90 days. 37.85% of the stock is owned by company insiders.

Institutional Trading of SkyWater Technology

A number of institutional investors have recently modified their holdings of the company. Ameriprise Financial Inc. grew its holdings in shares of SkyWater Technology by 15.7% during the 2nd 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 during the period. Emerald Advisers LLC grew its holdings in shares of SkyWater Technology by 36.2% during the 2nd 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 during the period. Emerald Mutual Fund Advisers Trust grew its holdings in shares of SkyWater Technology by 18.6% during the 2nd 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 during the period. AQR Capital Management LLC grew its holdings in shares of SkyWater Technology by 112.0% during the 1st 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 during the period. Finally, Lountzis Asset Management LLC grew its holdings in shares of SkyWater Technology by 1.6% during the 1st 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 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.

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