SkyWater Technology (NASDAQ:SKYT) Reaches New 12-Month High – Should You Buy?

Shares of SkyWater Technology, Inc. (NASDAQ:SKYT) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $13.89 and last traded at $13.89, with a volume of 122853 shares trading hands. The stock had previously closed at $13.08.

Analyst Ratings Changes

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

SkyWater Technology Stock Performance

The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 0.87. The firm has a market capitalization of $592.84 million, a PE ratio of -35.54 and a beta of 3.72. The firm’s 50 day moving average price is $9.46 and its 200-day moving average price is $8.66.

Insiders Place Their Bets

In other SkyWater Technology news, Director Loren A. Unterseher sold 7,761 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 12,806,264 shares in the company, valued at approximately $118,714,067.28. This represents a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 42.55% of the stock is currently owned by company insiders.

Institutional Trading of SkyWater Technology

Institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP acquired a new stake in SkyWater Technology in the 3rd quarter worth about $35,000. Allworth Financial LP acquired a new position in shares of SkyWater Technology during the third quarter valued at approximately $41,000. nVerses Capital LLC purchased a new position in shares of SkyWater Technology in the third quarter valued at approximately $60,000. The Manufacturers Life Insurance Company acquired a new stake in shares of SkyWater Technology in the second quarter worth approximately $88,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of SkyWater Technology by 98,866.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 11,876 shares of the company’s stock worth $91,000 after purchasing an additional 11,864 shares in the last quarter. Hedge funds and other institutional investors 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.