TD Cowen Lowers SkyWater Technology (NASDAQ:SKYT) Price Target to $12.00

SkyWater Technology (NASDAQ:SKYT - Free Report) had its price target lowered by TD Cowen from $15.00 to $12.00 in a research report report published on Thursday, Marketbeat Ratings reports. The firm currently has a buy rating on the stock.

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

SkyWater Technology Stock Performance

Shares of SKYT stock remained flat at $7.61 during trading hours on Thursday. The stock had a trading volume of 702,293 shares, compared to its average volume of 571,370. 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 12-month low of $5.63 and a 12-month high of $19.00. The company has a market capitalization of $365.55 million, a PE ratio of -21.74 and a beta of 3.40. The business's 50 day moving average is $7.30 and its two-hundred day moving average is $9.38.

SkyWater Technology (NASDAQ:SKYT - Get Free Report) last released its earnings results on Wednesday, February 26th. The company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of ($0.06) by $0.10. The firm had revenue of $75.49 million for the quarter, compared to the consensus estimate of $74.25 million. SkyWater Technology had a negative net margin of 4.75% and a negative return on equity of 12.40%. As a group, equities research analysts forecast that SkyWater Technology will post -0.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SkyWater Technology news, Director Gregory B. Graves sold 12,844 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $8.11, for a total transaction of $104,164.84. Following the sale, the director now owns 14,285 shares of the company's stock, valued at approximately $115,851.35. This trade represents 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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Deutsche Bank AG grew its stake in shares of SkyWater Technology by 1.6% during the 1st quarter. Deutsche Bank AG now owns 84,977 shares of the company's stock worth $602,000 after purchasing an additional 1,372 shares during the period. Victory Capital Management Inc. increased its holdings in shares of SkyWater Technology by 9.3% in the first quarter. Victory Capital Management Inc. now owns 54,000 shares of the company's stock valued at $383,000 after purchasing an additional 4,600 shares during the last quarter. SBI Securities Co. Ltd. raised its holdings in shares of SkyWater Technology by 33.7% during the 1st quarter. SBI Securities Co. Ltd. now owns 55,381 shares of the company's stock worth $393,000 after acquiring an additional 13,955 shares during the period. CWM LLC raised its position in shares of SkyWater Technology by 320.2% during the 1st quarter. CWM LLC now owns 5,719 shares of the company's stock valued at $41,000 after buying an additional 4,358 shares during the period. Finally, Emerald Advisers LLC increased its position in shares of SkyWater Technology by 1.3% during the 1st quarter. Emerald Advisers LLC now owns 1,000,716 shares of the company's stock worth $7,095,000 after purchasing an additional 12,562 shares during the last quarter. 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.