SkyWater Technology, Inc. (NASDAQ:SKYT) Short Interest Down 40.7% in January

SkyWater Technology, Inc. (NASDAQ:SKYT) was the target of a large decline in short interest during the month of January. As of January 30th, there was short interest totaling 2,466,063 shares, a decline of 40.7% from the January 15th total of 4,155,698 shares. Approximately 8.2% of the company’s stock are sold short. Based on an average daily volume of 4,270,936 shares, the short-interest ratio is currently 0.6 days. Based on an average daily volume of 4,270,936 shares, the short-interest ratio is currently 0.6 days. Approximately 8.2% of the company’s stock are sold short.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SKYT shares. TD Cowen cut shares of SkyWater Technology from a “buy” rating to a “hold” rating and boosted their price target for the company from $24.00 to $35.00 in a research report on Tuesday, January 27th. Weiss Ratings reissued a “sell (e+)” rating on shares of SkyWater Technology in a report on Monday, December 29th. Piper Sandler cut SkyWater Technology from an “overweight” rating to a “neutral” rating and upped their target price for the company from $17.00 to $35.00 in a research report on Monday, January 26th. Needham & Company LLC lowered SkyWater Technology from a “buy” rating to a “hold” rating in a research report on Monday, January 26th. Finally, Jefferies Financial Group raised SkyWater Technology to a “hold” rating in a report on Tuesday, October 28th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $32.00.

Insiders Place Their Bets

In other news, Director Loren A. Unterseher sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $14.54, for a total transaction of $1,454,000.00. Following the completion of the sale, the director owned 4,487,394 shares in the company, valued at approximately $65,246,708.76. The trade was a 2.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas Sonderman sold 5,210 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $13.38, for a total transaction of $69,709.80. Following the completion of the transaction, the chief executive officer owned 521,757 shares of the company’s stock, valued at approximately $6,981,108.66. The trade was a 0.99% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 326,872 shares of company stock valued at $4,756,214. Insiders own 37.85% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC lifted its position in SkyWater Technology by 112.0% in the first quarter. AQR Capital Management LLC now owns 313,993 shares of the company’s stock valued at $2,226,000 after purchasing an additional 165,865 shares during the period. Strs Ohio acquired a new position in SkyWater Technology during the 1st quarter worth approximately $173,000. Y Intercept Hong Kong Ltd purchased a new position in shares of SkyWater Technology during the 2nd quarter worth approximately $243,000. GWN Securities Inc. acquired a new stake in shares of SkyWater Technology in the 2nd quarter valued at approximately $148,000. Finally, Emerald Advisers LLC boosted its stake in shares of SkyWater Technology by 36.2% in the second quarter. Emerald Advisers LLC now owns 1,362,983 shares of the company’s stock valued at $13,412,000 after buying an additional 362,267 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

SkyWater Technology Stock Performance

Shares of NASDAQ SKYT traded up $0.82 during mid-day trading on Friday, hitting $29.23. 1,037,931 shares of the company were exchanged, compared to its average volume of 3,133,229. The stock has a 50 day simple moving average of $25.68 and a 200-day simple moving average of $18.55. SkyWater Technology has a 1-year low of $5.67 and a 1-year high of $36.27. The company has a quick ratio of 0.61, a current ratio of 0.67 and a debt-to-equity ratio of 0.17. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 11.33 and a beta of 3.51.

About SkyWater Technology

SkyWater Technology Solutions, Inc is a U.S.-based specialty semiconductor foundry headquartered in Bloomington, Minnesota. The company focuses on the development and manufacture of high-reliability integrated circuits using advanced processes on 200-millimeter wafers.

SkyWater’s service offerings span analog/mixed-signal, radio frequency (RF), micro-electromechanical systems (MEMS) and advanced packaging technologies. Its turnkey model includes multi-project wafer (MPW) runs, volume production, design enablement support and assembly and test services, enabling customers to take concepts from prototype to market.

Serving aerospace, defense, automotive, industrial, medical and communications sectors, SkyWater supports applications that demand rigorous performance, quality and traceability.