Shares of SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) were down 5.8% during trading on Tuesday . The stock traded as low as $11.30 and last traded at $11.29. Approximately 158,547 shares traded hands during trading, a decline of 80% from the average daily volume of 777,386 shares. The stock had previously closed at $11.99.
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. Needham & Company LLC raised their price target 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 upgraded SkyWater Technology from a "sell" rating to a "hold" rating in a report on Friday. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, SkyWater Technology presently has an average rating of "Buy" and an average price target of $13.00.
View Our Latest Stock Analysis on SKYT
SkyWater Technology Stock Performance
The company has a market cap of $491.44 million, a price-to-earnings ratio of -30.00 and a beta of 3.41. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.06 and a quick ratio of 0.97. The stock has a 50-day moving average price of $10.83 and a 200 day moving average price of $9.06.
Insider Activity at SkyWater Technology
In other news, Director Loren A. Unterseher sold 60,767 shares of the firm's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $12.08, for a total transaction of $734,065.36. Following the sale, the director owned 7,600,245 shares of the company's stock, valued at $91,810,959.60. This trade represents a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 2,754,869 shares of company stock worth $32,930,579 over the last quarter. Company insiders own 37.85% of the company's stock.
Hedge Funds Weigh In On SkyWater Technology
A number of large investors have recently bought and sold shares of SKYT. Squarepoint Ops LLC grew its stake in SkyWater Technology by 405.4% in the second quarter. Squarepoint Ops LLC now owns 87,290 shares of the company's stock valued at $859,000 after purchasing an additional 70,019 shares in the last quarter. Marex Group plc acquired a new position in shares of SkyWater Technology during the 2nd quarter worth approximately $206,000. Sugar Maple Asset Management LLC acquired a new position in shares of SkyWater Technology during the 2nd quarter worth approximately $253,000. BNP Paribas Financial Markets increased its position in shares of SkyWater Technology by 56.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company's stock worth $27,000 after purchasing an additional 991 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position 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 last quarter. Institutional investors and hedge funds 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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