Needham & Company LLC reissued their buy rating on shares of SkyWater Technology (NASDAQ:SKYT - Free Report) in a report published on Monday,Benzinga reports. Needham & Company LLC currently has a $12.00 price target on the stock.
Separately, Piper Sandler increased their price objective on shares of SkyWater Technology from $9.00 to $12.00 and gave the company an "overweight" rating in a report on Friday, October 25th.
Check Out Our Latest Stock Analysis on SkyWater Technology
SkyWater Technology Price Performance
Shares of SKYT stock traded down $0.21 during mid-day trading on Monday, hitting $8.78. 619,541 shares of the stock were exchanged, compared to its average volume of 398,613. SkyWater Technology has a 52-week low of $5.40 and a 52-week high of $12.97. The company has a market cap of $416.87 million, a PE ratio of -25.34 and a beta of 3.92. The company has a quick ratio of 0.79, a current ratio of 0.90 and a debt-to-equity ratio of 0.66. The firm has a fifty day moving average of $9.33 and a 200 day moving average of $8.59.
Insider Buying and Selling
In other SkyWater Technology news, Director Loren A. Unterseher sold 2,673 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $10.00, for a total transaction of $26,730.00. Following the completion of the sale, the director now 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 through the SEC website. Corporate insiders own 42.55% of the company's stock.
Institutional Trading of SkyWater Technology
A number of institutional investors and hedge funds have recently made changes to their positions in SKYT. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of SkyWater Technology in the third quarter valued at $202,000. Olympiad Research LP bought a new stake in SkyWater Technology in the third quarter worth approximately $126,000. Emerald Advisers LLC raised its holdings in SkyWater Technology by 1.7% during the third quarter. Emerald Advisers LLC now owns 1,113,353 shares of the company's stock valued at $10,109,000 after buying an additional 18,423 shares in the last quarter. Allworth Financial LP acquired a new stake in SkyWater Technology in the 3rd quarter worth approximately $41,000. Finally, nVerses Capital LLC bought a new stake in shares of SkyWater Technology during the 3rd quarter worth $60,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.
About SkyWater Technology
(
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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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