SkyWater Technology, Inc. (NASDAQ:SKYT) Given Consensus Rating of “Hold” by Brokerages

SkyWater Technology, Inc. (NASDAQ:SKYT) has been assigned an average recommendation of “Hold” from the eight research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $32.00.

A number of equities analysts recently issued reports on SKYT shares. Weiss Ratings reissued a “sell (e+)” rating on shares of SkyWater Technology in a report on Friday, March 27th. Piper Sandler downgraded shares of SkyWater Technology from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $17.00 to $35.00 in a research report on Monday, January 26th. TD Cowen cut shares of SkyWater Technology from a “buy” rating to a “hold” rating and lifted their price target for the stock from $24.00 to $35.00 in a research note on Tuesday, January 27th. Stifel Nicolaus set a $35.00 price objective on shares of SkyWater Technology in a research report on Monday, January 26th. Finally, Zacks Research upgraded SkyWater Technology from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th.

SkyWater Technology Stock Performance

SKYT stock opened at $33.72 on Friday. The stock’s 50 day simple moving average is $29.80 and its 200 day simple moving average is $25.06. The company has a current ratio of 0.60, a quick ratio of 0.52 and a debt-to-equity ratio of 0.17. SkyWater Technology has a 12-month low of $7.46 and a 12-month high of $36.27. The stock has a market capitalization of $1.66 billion, a PE ratio of 13.88 and a beta of 3.30.

SkyWater Technology (NASDAQ:SKYT) last issued its earnings results on Wednesday, May 6th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.17). The business had revenue of $160.69 million during the quarter, compared to analysts’ expectations of $146.31 million. SkyWater Technology had a negative return on equity of 6.89% and a net margin of 26.90%. As a group, research analysts forecast that SkyWater Technology will post -0.42 earnings per share for the current fiscal year.

Insider Transactions at SkyWater Technology

In related news, CFO Steve Manko sold 84,215 shares of the stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $30.41, for a total value of $2,560,978.15. Following the completion of the sale, the chief financial officer directly owned 171,567 shares of the company’s stock, valued at approximately $5,217,352.47. This represents a 32.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 37.85% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. KBC Group NV purchased a new position in shares of SkyWater Technology during the first quarter valued at about $27,000. Swiss National Bank increased its holdings in shares of SkyWater Technology by 26.1% in the first quarter. Swiss National Bank now owns 72,000 shares of the company’s stock worth $1,974,000 after purchasing an additional 14,900 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of SkyWater Technology by 12.2% in the first quarter. Bank of New York Mellon Corp now owns 103,608 shares of the company’s stock worth $2,840,000 after buying an additional 11,235 shares in the last quarter. Bleakley Financial Group LLC bought a new position in SkyWater Technology during the first quarter valued at approximately $291,000. Finally, Principal Financial Group Inc. boosted its stake in SkyWater Technology by 57.7% during the first quarter. Principal Financial Group Inc. now owns 93,637 shares of the company’s stock valued at $2,567,000 after buying an additional 34,245 shares during the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

SkyWater Technology Company Profile

SkyWater Technology Solutions, Inc is a U.S.-based specialty semiconductor foundry headquartered in Bloomington, Minnesota. The company focuses on the development and manufacture of high-reliability integrated circuits using advanced processes on 200-millimeter wafers.

SkyWater’s service offerings span analog/mixed-signal, radio frequency (RF), micro-electromechanical systems (MEMS) and advanced packaging technologies. Its turnkey model includes multi-project wafer (MPW) runs, volume production, design enablement support and assembly and test services, enabling customers to take concepts from prototype to market.

Serving aerospace, defense, automotive, industrial, medical and communications sectors, SkyWater supports applications that demand rigorous performance, quality and traceability.