SkyWater Technology (NASDAQ:SKYT - Get Free Report) had its target price lifted by equities research analysts at Piper Sandler from $9.00 to $12.00 in a research note issued on Friday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Piper Sandler's price objective would indicate a potential upside of 14.50% from the stock's previous close.
SkyWater Technology Stock Performance
Shares of SKYT stock traded up $0.25 during mid-day trading on Friday, reaching $10.48. 442,755 shares of the company's stock traded hands, compared to its average volume of 394,368. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.79 and a current ratio of 0.90. The firm has a market capitalization of $497.59 million, a PE ratio of -19.78 and a beta of 3.95. SkyWater Technology has a 12 month low of $4.73 and a 12 month high of $12.97. The firm has a 50 day moving average price of $9.21 and a two-hundred day moving average price of $8.55.
SkyWater Technology (NASDAQ:SKYT - Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.12. The company had revenue of $93.33 million for the quarter, compared to the consensus estimate of $82.50 million. SkyWater Technology had a negative return on equity of 21.68% and a negative net margin of 7.88%. On average, research analysts forecast that SkyWater Technology will post -0.26 EPS for the current year.
Insider Buying and Selling
In other news, Director Loren A. Unterseher sold 2,673 shares of the firm's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $10.00, for a total transaction of $26,730.00. Following the sale, the director now directly owns 13,019,620 shares in the company, valued at $130,196,200. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 42.55% of the stock is currently owned by insiders.
Institutional Investors Weigh In On SkyWater Technology
A number of institutional investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC purchased a new stake in SkyWater Technology during the 1st quarter valued at approximately $119,000. Cetera Advisors LLC grew its stake in SkyWater Technology by 9.3% during the first quarter. Cetera Advisors LLC now owns 21,391 shares of the company's stock valued at $218,000 after acquiring an additional 1,816 shares in the last quarter. Baillie Gifford & Co. increased its holdings in SkyWater Technology by 4.4% in the 2nd quarter. Baillie Gifford & Co. now owns 1,007,449 shares of the company's stock valued at $7,707,000 after acquiring an additional 42,649 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in SkyWater Technology by 98,866.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 11,876 shares of the company's stock valued at $91,000 after acquiring an additional 11,864 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in SkyWater Technology by 36.3% in the 2nd quarter. Rhumbline Advisers now owns 32,764 shares of the company's stock worth $251,000 after purchasing an additional 8,731 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company's stock.
SkyWater Technology Company Profile
(
Get Free Report)
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.
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