SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) shares were up 5.2% on Tuesday . The company traded as high as $19.80 and last traded at $19.17. Approximately 423,335 shares were traded during trading, a decline of 53% from the average daily volume of 891,362 shares. The stock had previously closed at $18.22.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on SKYT. Needham & Company LLC lifted 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 analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $13.00.
Check Out Our Latest Report on SKYT
SkyWater Technology Price Performance
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 50-day moving average of $11.76 and a 200-day moving average of $9.56. The firm has a market capitalization of $885.89 million, a price-to-earnings ratio of -54.21 and a beta of 3.41.
Insider Activity
In related news, Director Loren A. Unterseher sold 756,516 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $12.06, for a total value of $9,123,582.96. Following the completion of the transaction, the director directly owned 8,161,012 shares in the company, valued at approximately $98,421,804.72. The trade was a 8.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders sold 3,221,247 shares of company stock valued at $38,461,969. 37.85% of the stock is currently owned by insiders.
Hedge Funds Weigh In On SkyWater Technology
A number of large investors have recently bought and sold shares of the company. Squarepoint Ops LLC boosted its position in SkyWater Technology by 405.4% during the 2nd quarter. Squarepoint Ops LLC now owns 87,290 shares of the company's stock worth $859,000 after acquiring an additional 70,019 shares during the last quarter. Marex Group plc bought a new stake in shares of SkyWater Technology during the 2nd quarter worth approximately $206,000. Sugar Maple Asset Management LLC bought a new stake in shares of SkyWater Technology during the 2nd quarter worth approximately $253,000. BNP Paribas Financial Markets raised its stake 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 in the last quarter. Finally, Ameriprise Financial Inc. raised its stake 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 in 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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