SkyWater Technology (NASDAQ:SKYT) Stock Price Up 7.3% – Still a Buy?

Shares of SkyWater Technology, Inc. (NASDAQ:SKYT) rose 7.3% during mid-day trading on Friday . The stock traded as high as $14.45 and last traded at $14.45. Approximately 229,711 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 503,435 shares. The stock had previously closed at $13.47.

Wall Street Analysts Forecast Growth

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

SkyWater Technology Stock Performance

The firm has a market capitalization of $688.63 million, a price-to-earnings ratio of -41.29 and a beta of 3.72. The company has a current ratio of 0.87, a quick ratio of 0.78 and a debt-to-equity ratio of 0.53. The stock’s 50-day moving average is $10.35 and its 200-day moving average is $9.11.

Insider Transactions at SkyWater Technology

In other news, Director Loren A. Unterseher sold 7,761 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 12,806,264 shares of the company’s stock, valued at $118,714,067.28. The trade was a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 42.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Quarry LP bought a new stake in SkyWater Technology during the 3rd quarter valued at $35,000. Victory Capital Management Inc. boosted its stake in SkyWater Technology by 4.2% in the 2nd quarter. Victory Capital Management Inc. now owns 95,150 shares of the company’s stock worth $728,000 after purchasing an additional 3,850 shares during the period. Allworth Financial LP purchased a new position in SkyWater Technology during the 3rd quarter valued at about $41,000. XTX Topco Ltd grew its holdings in SkyWater Technology by 19.5% during the 2nd quarter. XTX Topco Ltd now owns 30,836 shares of the company’s stock valued at $236,000 after buying an additional 5,038 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in SkyWater Technology during the third quarter valued at approximately $60,000. 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.