SkyWater Technology (NASDAQ:SKYT) Shares Gap Up – Time to Buy?

SkyWater Technology, Inc. (NASDAQ:SKYT)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $10.03, but opened at $10.44. SkyWater Technology shares last traded at $10.68, with a volume of 169,270 shares changing hands.

Analysts Set New Price Targets

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

SkyWater Technology Trading Down 6.8 %

The firm has a market capitalization of $461.35 million, a P/E ratio of -27.66 and a beta of 3.36. The business’s 50 day moving average is $11.77 and its two-hundred day moving average is $9.96. The company has a quick ratio of 0.78, a current ratio of 0.87 and a debt-to-equity ratio of 0.53.

Insider Buying and Selling at SkyWater Technology

In other 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 value of $71,944.47. Following the completion of the transaction, the director now directly owns 12,806,264 shares in the company, valued at $118,714,067.28. This trade 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 link. 42.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SkyWater Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in shares of SkyWater Technology by 6.4% during 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 period. UNICOM Systems Inc. bought a new position in SkyWater Technology during the fourth quarter valued at about $1,728,000. SG Americas Securities LLC acquired a new position in SkyWater Technology during the fourth quarter worth about $225,000. Barclays PLC raised its position in SkyWater Technology by 167.0% in the third quarter. Barclays PLC now owns 47,204 shares of the company’s stock worth $429,000 after acquiring an additional 29,523 shares in the last quarter. Finally, Baillie Gifford & Co. lifted its holdings in SkyWater Technology by 65.4% in the 4th quarter. Baillie Gifford & Co. now owns 1,665,284 shares of the company’s stock valued at $22,981,000 after acquiring an additional 658,431 shares during the last quarter. 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.