SkyWater Technology (NASDAQ:SKYT) Stock Price Up 6.4% – Should You Buy?

SkyWater Technology, Inc. (NASDAQ:SKYT) shares traded up 6.4% during trading on Friday . The company traded as high as $10.66 and last traded at $10.84. 601,815 shares were traded during mid-day trading, a decline of 24% from the average session volume of 796,809 shares. The stock had previously closed at $10.19.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wall Street Zen raised SkyWater Technology from a “sell” rating to a “hold” rating in a research note on Friday, September 5th. Needham & Company LLC boosted their price objective on SkyWater Technology from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, SkyWater Technology currently has an average rating of “Buy” and a consensus price target of $13.00.

SkyWater Technology Stock Up 3.6%

The company has a current ratio of 1.06, a quick ratio of 0.97 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $508.78 million, a price-to-earnings ratio of -31.06 and a beta of 3.41. The stock has a fifty day moving average of $10.82 and a 200-day moving average of $9.08.

Insider Activity

In related news, Director Loren A. Unterseher sold 756,516 shares of SkyWater Technology stock in a transaction 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 transaction, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders sold 2,883,846 shares of company stock valued at $34,405,183. Insiders own 37.85% of the company’s stock.

Hedge Funds Weigh In On SkyWater Technology

Hedge funds have recently modified their holdings of the stock. Federated Hermes Inc. acquired a new position in shares of SkyWater Technology in the 2nd quarter worth $25,000. BNP Paribas Financial Markets grew its holdings in shares of SkyWater Technology by 56.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company’s stock worth $27,000 after acquiring an additional 991 shares during the last quarter. Financial Management Professionals Inc. acquired a new position in shares of SkyWater Technology in the 2nd quarter worth $32,000. GAMMA Investing LLC grew its holdings in shares of SkyWater Technology by 941.3% in the 1st quarter. GAMMA Investing LLC now owns 4,613 shares of the company’s stock worth $33,000 after acquiring an additional 4,170 shares during the last quarter. Finally, CWM LLC grew its holdings in shares of SkyWater Technology by 320.2% in the 1st quarter. CWM LLC now owns 5,719 shares of the company’s stock worth $41,000 after acquiring an additional 4,358 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

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.