SkyWater Technology (NASDAQ:SKYT) Sees Large Volume Increase - Time to Buy?

SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 373,310 shares traded hands during mid-day trading, a decline of 22% from the previous session's volume of 477,270 shares.The stock last traded at $14.10 and had previously closed at $13.08.

Analysts Set New Price Targets

A number of research analysts recently commented on SKYT shares. Needham & Company LLC reiterated a "buy" rating and issued a $12.00 price objective on shares of SkyWater Technology in a report on Monday, November 11th. Piper Sandler upped their price target on SkyWater Technology from $9.00 to $12.00 and gave the company an "overweight" rating in a research note on Friday, October 25th.

SkyWater Technology Stock Performance

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 market capitalization of $703.40 million, a PE ratio of -42.17 and a beta of 3.72. The firm has a 50-day moving average price of $9.61 and a 200 day moving average price of $8.76.

Insiders Place Their Bets

In other SkyWater Technology 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 transaction of $71,944.47. Following the sale, the director now directly owns 12,806,264 shares in the company, valued at $118,714,067.28. This represents a 0.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 42.55% of the company's stock.

Institutional Trading of SkyWater Technology

A number of large investors have recently modified their holdings of the stock. Quarry LP acquired a new position in SkyWater Technology during the 3rd quarter worth $35,000. Allworth Financial LP purchased a new position in SkyWater Technology in the third quarter worth approximately $41,000. nVerses Capital LLC acquired a new position in SkyWater Technology during the 3rd quarter worth approximately $60,000. The Manufacturers Life Insurance Company purchased a new stake in shares of SkyWater Technology in the 2nd quarter valued at approximately $88,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of 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 purchasing an additional 11,864 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company's stock.

SkyWater Technology Company Profile

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.