SkyWater Technology (NASDAQ:SKYT) Given New $12.00 Price Target at TD Cowen

SkyWater Technology (NASDAQ:SKYT - Free Report) had its price objective decreased by TD Cowen from $15.00 to $12.00 in a research note published on Thursday, MarketBeat reports. TD Cowen currently has a buy rating on the stock.

Separately, Needham & Company LLC restated a "buy" rating and issued a $12.00 price target on shares of SkyWater Technology in a report on Thursday, February 27th.

SkyWater Technology Stock Up 9.3%

SkyWater Technology stock traded up $0.72 during mid-day trading on Thursday, reaching $8.43. The stock had a trading volume of 541,785 shares, compared to its average volume of 571,907. The company has a market capitalization of $404.94 million, a price-to-earnings ratio of -24.09 and a beta of 3.40. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.87 and a quick ratio of 0.78. SkyWater Technology has a one year low of $5.63 and a one year high of $19.00. The company has a 50-day moving average price of $7.28 and a two-hundred day moving average price of $9.36.

SkyWater Technology (NASDAQ:SKYT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.06) by $0.10. SkyWater Technology had a negative net margin of 4.75% and a negative return on equity of 12.40%. The firm had revenue of $75.49 million during the quarter, compared to analysts' expectations of $74.25 million. On average, analysts expect that SkyWater Technology will post -0.22 EPS for the current fiscal year.

Insider Activity

In related news, Director Gregory B. Graves sold 12,844 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $8.11, for a total value of $104,164.84. Following the completion of the sale, the director now owns 14,285 shares of the company's stock, valued at approximately $115,851.35. The trade was a 47.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 37.85% of the company's stock.

Institutional Trading of SkyWater Technology

Several large investors have recently made changes to their positions in SKYT. Baillie Gifford & Co. increased its stake in shares of SkyWater Technology by 65.4% in the 4th quarter. Baillie Gifford & Co. now owns 1,665,284 shares of the company's stock worth $22,981,000 after acquiring an additional 658,431 shares during the last quarter. Nuveen LLC acquired a new position in shares of SkyWater Technology in the 1st quarter valued at $1,919,000. Nuveen Asset Management LLC grew its holdings in shares of SkyWater Technology by 414.5% during the 4th quarter. Nuveen Asset Management LLC now owns 277,962 shares of the company's stock worth $3,836,000 after purchasing an additional 223,940 shares during the period. Trexquant Investment LP increased its position in shares of SkyWater Technology by 169.7% during the 4th quarter. Trexquant Investment LP now owns 236,498 shares of the company's stock worth $3,264,000 after purchasing an additional 148,802 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of SkyWater Technology by 394.2% in the fourth quarter. Bank of America Corp DE now owns 163,645 shares of the company's stock valued at $2,258,000 after buying an additional 130,529 shares in the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

SkyWater Technology Company Profile

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.