SkyWater Technology (NASDAQ:SKYT) Shares Gap Up – Still a Buy?

Shares of SkyWater Technology, Inc. (NASDAQ:SKYT) gapped up before the market opened on Wednesday . The stock had previously closed at $10.03, but opened at $10.44. SkyWater Technology shares last traded at $10.68, with a volume of 169,270 shares.

Analysts Set New Price Targets

SKYT has been the topic of several recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $12.00 price objective on shares of SkyWater Technology in a research report on Monday, November 11th. Piper Sandler lifted their price objective on shares of SkyWater Technology from $9.00 to $12.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th.

SkyWater Technology Price Performance

The company has a debt-to-equity ratio of 0.53, a current ratio of 0.87 and a quick ratio of 0.78. The stock has a market capitalization of $512.82 million, a price-to-earnings ratio of -30.76 and a beta of 3.36. The stock’s 50 day simple moving average is $11.72 and its 200-day simple moving average is $9.96.

Insider Transactions at SkyWater Technology

In other news, Director Loren A. Unterseher sold 7,761 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $9.27, for a total value of $71,944.47. Following the completion of the sale, the director now directly owns 12,806,264 shares in the company, valued at approximately $118,714,067.28. The trade was a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 42.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SkyWater Technology

Several large investors have recently bought and sold shares of SKYT. Quarry LP bought a new stake in SkyWater Technology in the 3rd quarter valued at $35,000. Summit Investment Advisors Inc. grew its holdings in shares of SkyWater Technology by 64.1% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,849 shares of the company’s stock worth $39,000 after purchasing an additional 1,113 shares during the last quarter. Allworth Financial LP bought a new stake in shares of SkyWater Technology in the 3rd quarter worth about $41,000. BNP Paribas Financial Markets acquired a new position in SkyWater Technology during the 4th quarter worth about $50,000. Finally, nVerses Capital LLC acquired a new position in SkyWater Technology during the 3rd quarter worth about $60,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

About SkyWater Technology

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.