SkyWater Technology (NASDAQ:SKYT) Shares Gap Up – Should You Buy?

Shares of SkyWater Technology, Inc. (NASDAQ:SKYT) gapped up before the market opened on Monday . The stock had previously closed at $14.49, but opened at $15.24. SkyWater Technology shares last traded at $16.71, with a volume of 367,943 shares.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $12.00 price target on shares of SkyWater Technology in a research note on Monday, November 11th. Piper Sandler increased their price objective on shares of SkyWater Technology from $9.00 to $12.00 and gave the company an “overweight” rating in a research report on Friday, October 25th.

SkyWater Technology Stock Down 18.3 %

The company has a market cap of $589.98 million, a price-to-earnings ratio of -35.37 and a beta of 3.43. The firm has a 50-day moving average price of $10.60 and a 200 day moving average price of $9.28. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.87 and a quick ratio of 0.78.

Insider Buying and Selling at SkyWater Technology

In other SkyWater Technology news, Director Loren A. Unterseher sold 7,761 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $9.27, for a total transaction of $71,944.47. Following the transaction, the director now owns 12,806,264 shares in the company, valued at $118,714,067.28. This represents a 0.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 42.55% of the company’s stock.

Hedge Funds Weigh In On SkyWater Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SKYT. AQR Capital Management LLC lifted its holdings in shares of SkyWater Technology by 183.6% during the 2nd quarter. AQR Capital Management LLC now owns 119,828 shares of the company’s stock worth $917,000 after acquiring an additional 77,571 shares during the period. Inspire Investing LLC acquired a new stake in shares of SkyWater Technology in the 3rd quarter valued at $418,000. Geode Capital Management LLC increased its stake in shares of SkyWater Technology by 6.4% in the 3rd quarter. Geode Capital Management LLC now owns 586,933 shares of the company’s stock valued at $5,330,000 after purchasing an additional 35,219 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of SkyWater Technology by 20.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 199,318 shares of the company’s stock worth $1,810,000 after buying an additional 34,383 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of SkyWater Technology by 167.0% during the 3rd quarter. Barclays PLC now owns 47,204 shares of the company’s stock worth $429,000 after buying an additional 29,523 shares during the last quarter. 70.00% of the stock is 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.