SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $14.49, but opened at $15.24. SkyWater Technology shares last traded at $16.71, with a volume of 367,943 shares changing hands.
Wall Street Analyst Weigh In
SKYT has been the topic of several research analyst reports. 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 increased their price objective on SkyWater Technology from $9.00 to $12.00 and gave the company an "overweight" rating in a research note on Friday, October 25th.
Read Our Latest Stock Analysis on SkyWater Technology
SkyWater Technology Stock Performance
The company has a market cap of $747.72 million, a price-to-earnings ratio of -44.83 and a beta of 3.43. The stock's fifty day simple moving average is $10.43 and its 200 day simple moving average is $9.17. The company has a current ratio of 0.87, a quick ratio of 0.78 and a debt-to-equity ratio of 0.53.
Insiders Place Their Bets
In other SkyWater Technology news, Director Loren A. Unterseher sold 7,761 shares of SkyWater Technology stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $9.27, for a total transaction of $71,944.47. Following the transaction, the director now directly owns 12,806,264 shares of the company's stock, valued at $118,714,067.28. The trade was a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 42.55% of the stock is currently owned by corporate insiders.
Institutional Trading of SkyWater Technology
A number of hedge funds and other institutional investors have recently made changes to their positions in SKYT. Quarry LP acquired a new stake in SkyWater Technology during the third quarter worth $35,000. Allworth Financial LP acquired a new position in SkyWater Technology in the third quarter valued at about $41,000. nVerses Capital LLC purchased a new position in SkyWater Technology during the third quarter worth about $60,000. The Manufacturers Life Insurance Company acquired a new stake in shares of SkyWater Technology during the second quarter valued at about $88,000. Finally, Allspring Global Investments Holdings LLC raised its stake 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 acquiring an additional 11,864 shares during the period. Institutional investors and hedge funds 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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