Brokerages Set SkyWater Technology, Inc. (NASDAQ:SKYT) Target Price at $32.00

SkyWater Technology, Inc. (NASDAQ:SKYT) has received an average rating of “Hold” from the eight ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $32.00.

Several analysts have commented on SKYT shares. Weiss Ratings reissued a “sell (e+)” rating on shares of SkyWater Technology in a research report on Wednesday, June 24th. Zacks Research upgraded shares of SkyWater Technology from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th.

Insider Buying and Selling

In other SkyWater Technology news, CFO Steve Manko sold 75,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $35.08, for a total transaction of $2,631,000.00. Following the transaction, the chief financial officer directly owned 96,567 shares in the company, valued at $3,387,570.36. This trade represents a 43.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 22.56% of the stock is owned by insiders.

Institutional Trading of SkyWater Technology

Several large investors have recently made changes to their positions in SKYT. Carmignac Gestion acquired a new position in shares of SkyWater Technology during the 1st quarter valued at about $2,305,000. Bank of America Corp DE lifted its holdings in SkyWater Technology by 7.5% in the 1st quarter. Bank of America Corp DE now owns 117,856 shares of the company’s stock worth $3,230,000 after purchasing an additional 8,181 shares during the last quarter. California State Teachers Retirement System boosted its position in SkyWater Technology by 63.2% during the first quarter. California State Teachers Retirement System now owns 46,046 shares of the company’s stock worth $1,262,000 after purchasing an additional 17,827 shares during the period. Royal Bank of Canada boosted its position in SkyWater Technology by 26.7% during the first quarter. Royal Bank of Canada now owns 6,118 shares of the company’s stock worth $168,000 after purchasing an additional 1,290 shares during the period. Finally, Regal Partners Ltd acquired a new position in SkyWater Technology during the first quarter valued at approximately $266,000. Institutional investors own 70.00% of the company’s stock.

SkyWater Technology Stock Performance

Shares of NASDAQ SKYT opened at $32.46 on Friday. The business’s 50-day moving average price is $34.75 and its two-hundred day moving average price is $32.13. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.51 and a quick ratio of 0.44. SkyWater Technology has a one year low of $8.49 and a one year high of $39.93. The company has a market capitalization of $1.60 billion, a P/E ratio of 13.93 and a beta of 3.34.

SkyWater Technology (NASDAQ:SKYT) last announced its quarterly earnings results on Friday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter. The firm had revenue of $160.69 million for the quarter. SkyWater Technology had a net margin of 21.04% and a negative return on equity of 7.88%. Analysts anticipate that SkyWater Technology will post -0.42 earnings per share for the current fiscal year.

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.