SkyWater Technology (NASDAQ:SKYT) Reaches New 52-Week High – What’s Next?

SkyWater Technology, Inc. (NASDAQ:SKYT) shares hit a new 52-week high during trading on Thursday . The company traded as high as $38.50 and last traded at $38.7090, with a volume of 294728 shares. The stock had previously closed at $37.88.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SKYT shares. Zacks Research upgraded shares of SkyWater Technology from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Weiss Ratings restated a “sell (e+)” rating on shares of SkyWater Technology in a research note on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $32.00.

SkyWater Technology Trading Up 0.0%

The stock has a market cap of $1.92 billion, a P/E ratio of 16.73 and a beta of 3.30. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.51 and a quick ratio of 0.44. The business’s 50 day simple moving average is $32.16 and its 200 day simple moving average is $27.20.

SkyWater Technology (NASDAQ:SKYT) last announced its quarterly earnings results on Wednesday, May 20th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.17). The business had revenue of $160.69 million for the quarter, compared to the consensus estimate of $146.07 million. SkyWater Technology had a negative return on equity of 7.88% and a net margin of 21.04%. On average, analysts expect that SkyWater Technology, Inc. will post -0.42 earnings per share for the current fiscal year.

Insider Buying and Selling at SkyWater Technology

In other news, CFO Steve Manko sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $35.08, for a total transaction of $2,631,000.00. Following the completion of the sale, the chief financial officer owned 96,567 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 250,324 shares of company stock worth $7,728,453 over the last three months. Company insiders own 37.85% of the company’s stock.

Institutional Trading of SkyWater Technology

Hedge funds have recently modified their holdings of the company. Federated Hermes Inc. increased its holdings in shares of SkyWater Technology by 13,712.9% during the third quarter. Federated Hermes Inc. now owns 347,119 shares of the company’s stock worth $6,477,000 after buying an additional 344,606 shares in the last quarter. Pier Capital LLC acquired a new stake in shares of SkyWater Technology during the fourth quarter worth approximately $3,365,000. Quantbot Technologies LP increased its holdings in shares of SkyWater Technology by 44,565.1% during the third quarter. Quantbot Technologies LP now owns 94,690 shares of the company’s stock worth $1,767,000 after buying an additional 94,478 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in shares of SkyWater Technology during the third quarter worth approximately $752,000. Finally, Teton Advisors LLC acquired a new stake in shares of SkyWater Technology during the third quarter worth approximately $1,129,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

About SkyWater Technology

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.