SkyWater Technology (NASDAQ:SKYT) Shares Up 5.2%

SkyWater Technology, Inc. (NASDAQ:SKYT) shot up 5.2% during mid-day trading on Tuesday . The stock traded as high as $10.80 and last traded at $10.79. 140,241 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 399,724 shares. The stock had previously closed at $10.26.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Needham & Company LLC raised their price objective on shares of SkyWater Technology from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Piper Sandler raised their price objective on shares of SkyWater Technology from $9.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Finally, TD Cowen raised their price objective on shares of SkyWater Technology from $12.00 to $15.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th.

SkyWater Technology Stock Performance

The company has a market capitalization of $494.23 million, a P/E ratio of -15.31 and a beta of 4.29. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.02 and a quick ratio of 0.91. The stock’s 50 day simple moving average is $10.19 and its two-hundred day simple moving average is $8.62.

SkyWater Technology (NASDAQ:SKYT) last announced its earnings results on Monday, February 26th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.12. SkyWater Technology had a negative net margin of 10.73% and a negative return on equity of 30.58%. The company had revenue of $79.15 million during the quarter, compared to the consensus estimate of $74.90 million. As a group, research analysts expect that SkyWater Technology, Inc. will post -0.05 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Thomas Sonderman sold 18,989 shares of SkyWater Technology stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $10.01, for a total transaction of $190,079.89. Following the completion of the sale, the chief executive officer now owns 498,413 shares in the company, valued at approximately $4,989,114.13. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Loren A. Unterseher sold 368,709 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $12.14, for a total transaction of $4,476,127.26. Following the completion of the transaction, the director now owns 13,022,293 shares in the company, valued at $158,090,637.02. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas Sonderman sold 18,989 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $10.01, for a total transaction of $190,079.89. Following the transaction, the chief executive officer now owns 498,413 shares of the company’s stock, valued at approximately $4,989,114.13. The disclosure for this sale can be found here. Over the last three months, insiders sold 398,218 shares of company stock valued at $4,787,187. Insiders own 42.55% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Emerald Advisers LLC grew its holdings in SkyWater Technology by 17.4% during the third quarter. Emerald Advisers LLC now owns 1,129,507 shares of the company’s stock valued at $6,800,000 after purchasing an additional 167,290 shares during the period. Baillie Gifford & Co. acquired a new position in shares of SkyWater Technology in the fourth quarter valued at approximately $9,281,000. Emerald Mutual Fund Advisers Trust boosted its holdings in shares of SkyWater Technology by 15.6% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 869,817 shares of the company’s stock valued at $5,236,000 after buying an additional 117,081 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of SkyWater Technology by 17.6% in the fourth quarter. Victory Capital Management Inc. now owns 94,800 shares of the company’s stock valued at $912,000 after buying an additional 14,163 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in shares of SkyWater Technology by 83.7% in the third quarter. Federated Hermes Inc. now owns 80,000 shares of the company’s stock valued at $482,000 after buying an additional 36,443 shares during the period. Institutional investors and hedge funds 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.