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Stock Traders Purchase Large Volume of Call Options on SkyWater Technology (NASDAQ:SKYT)

SkyWater Technology logo with Computer and Technology background

SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) saw some unusual options trading activity on Wednesday. Investors purchased 1,596 call options on the company. This represents an increase of approximately 105% compared to the average daily volume of 777 call options.

Insider Activity

In other news, Director Loren A. Unterseher sold 7,761 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 12,806,264 shares of the company's stock, valued at approximately $118,714,067.28. This represents a 0.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 42.55% of the company's stock.

Institutional Trading of SkyWater Technology

Several hedge funds have recently modified their holdings of SKYT. Quarry LP acquired a new position in SkyWater Technology during the 3rd quarter worth $35,000. Victory Capital Management Inc. lifted its stake in shares of SkyWater Technology by 4.2% during the second quarter. Victory Capital Management Inc. now owns 95,150 shares of the company's stock valued at $728,000 after acquiring an additional 3,850 shares during the period. Allworth Financial LP bought a new position in SkyWater Technology in the third quarter valued at about $41,000. XTX Topco Ltd increased its position in SkyWater Technology by 19.5% in the second quarter. XTX Topco Ltd now owns 30,836 shares of the company's stock worth $236,000 after purchasing an additional 5,038 shares during the period. Finally, nVerses Capital LLC bought a new stake in SkyWater Technology during the 3rd quarter worth about $60,000. 70.00% of the stock is owned by institutional investors.

SkyWater Technology Price Performance

NASDAQ SKYT traded up $2.68 on Wednesday, hitting $15.76. 9,274,459 shares of the company were exchanged, compared to its average volume of 458,638. SkyWater Technology has a 1-year low of $5.63 and a 1-year high of $19.00. The firm has a 50 day moving average of $9.40 and a two-hundred day moving average of $8.64. The company has a current ratio of 0.87, a quick ratio of 0.78 and a debt-to-equity ratio of 0.53. The company has a market cap of $751.06 million, a P/E ratio of -45.03 and a beta of 3.72.

Analysts Set New Price Targets

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

Get Our Latest Report on SkyWater Technology

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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