SkyWater Technology (NASDAQ:SKYT) Shares Gap Down – Here’s What Happened

SkyWater Technology, Inc. (NASDAQ:SKYT)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $23.64, but opened at $22.26. SkyWater Technology shares last traded at $23.0780, with a volume of 711,968 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SKYT shares. TD Cowen increased their target price on SkyWater Technology from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Stifel Nicolaus started coverage on shares of SkyWater Technology in a research report on Tuesday, October 21st. They set a “buy” rating and a $25.00 price objective on the stock. Needham & Company LLC lifted their target price on shares of SkyWater Technology from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Jefferies Financial Group upgraded shares of SkyWater Technology to a “hold” rating in a report on Tuesday, October 28th. Finally, Wall Street Zen raised shares of SkyWater Technology from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.50.

SkyWater Technology Trading Down 2.6%

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 company has a market cap of $1.11 billion, a P/E ratio of 8.92 and a beta of 3.49. The stock’s 50-day moving average is $15.68 and its two-hundred day moving average is $11.81.

SkyWater Technology (NASDAQ:SKYT) last announced its earnings results on Wednesday, November 5th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.41. The business had revenue of $150.74 million during the quarter, compared to analyst estimates of $135.50 million. SkyWater Technology had a net margin of 36.36% and a negative return on equity of 7.97%. SkyWater Technology has set its Q4 2025 guidance at -0.080-0.040 EPS. As a group, equities research analysts predict that SkyWater Technology, Inc. will post -0.22 earnings per share for the current fiscal year.

Insider Transactions at SkyWater Technology

In other SkyWater Technology news, Director Loren A. Unterseher sold 756,516 shares of the business’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $12.06, for a total transaction of $9,123,582.96. Following the completion of the sale, the director directly owned 8,161,012 shares in the company, valued at $98,421,804.72. The trade was a 8.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 3,018,836 shares of company stock valued at $36,734,389 over the last 90 days. Company insiders own 37.85% of the company’s stock.

Hedge Funds Weigh In On SkyWater Technology

Institutional investors and hedge funds have recently made changes to their positions in the business. CWM LLC grew its position in SkyWater Technology by 320.2% during the first 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. SBI Securities Co. Ltd. increased its stake in shares of SkyWater Technology by 33.7% in the 1st quarter. SBI Securities Co. Ltd. now owns 55,381 shares of the company’s stock worth $393,000 after purchasing an additional 13,955 shares in the last quarter. Victory Capital Management Inc. raised its holdings in SkyWater Technology by 9.3% in the 1st quarter. Victory Capital Management Inc. now owns 54,000 shares of the company’s stock worth $383,000 after purchasing an additional 4,600 shares during the period. Deutsche Bank AG lifted its position in SkyWater Technology by 1.6% during the first quarter. Deutsche Bank AG now owns 84,977 shares of the company’s stock valued at $602,000 after purchasing an additional 1,372 shares in the last quarter. Finally, Nuveen LLC bought a new stake in SkyWater Technology during the first quarter valued at about $1,919,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

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.