SkyWater Technology (NASDAQ:SKYT) Sees Strong Trading Volume - Still a Buy?

SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) shares saw unusually-high trading volume on Tuesday . Approximately 379,993 shares changed hands during trading, a decline of 6% from the previous session's volume of 405,189 shares.The stock last traded at $11.57 and had previously closed at $10.16.

Wall Street Analyst Weigh In

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

SkyWater Technology Stock Up 28.7 %

The company has a market cap of $623.39 million, a P/E ratio of -37.37 and a beta of 3.72. The company has a quick ratio of 0.78, a current ratio of 0.87 and a debt-to-equity ratio of 0.53. The firm has a fifty day moving average price of $9.27 and a 200 day moving average price of $8.59.

Insider Buying and Selling at SkyWater Technology

In other news, Director Loren A. Unterseher sold 7,761 shares of SkyWater Technology stock in a transaction on Friday, December 13th. The stock was sold at an average price of $9.27, for a total value 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 approximately $118,714,067.28. This trade represents a 0.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 42.55% of the company's stock.

Institutional Trading of SkyWater Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Emerald Advisers LLC boosted its stake in shares of SkyWater Technology by 1.7% in the 3rd quarter. Emerald Advisers LLC now owns 1,113,353 shares of the company's stock valued at $10,109,000 after purchasing an additional 18,423 shares during the last quarter. Baillie Gifford & Co. grew its holdings in SkyWater Technology by 4.4% during the 2nd quarter. Baillie Gifford & Co. now owns 1,007,449 shares of the company's stock worth $7,707,000 after acquiring an additional 42,649 shares during the period. Geode Capital Management LLC raised 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 acquiring an additional 35,219 shares during the last quarter. State Street Corp boosted its position in shares of SkyWater Technology by 4.7% in the 3rd quarter. State Street Corp now owns 473,475 shares of the company's stock worth $4,299,000 after purchasing an additional 21,134 shares during the last quarter. Finally, Lountzis Asset Management LLC acquired a new stake in shares of SkyWater Technology during the second quarter worth $2,212,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

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.