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

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

SKYT has been the subject of a number of research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SkyWater Technology in a research note on Friday, March 27th. Zacks Research raised shares of SkyWater Technology from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th.

Insider Buying and Selling

In other SkyWater Technology news, CFO Steve Manko sold 91,109 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $27.84, for a total value of $2,536,474.56. Following the completion of the transaction, the chief financial officer directly owned 215,166 shares in the company, valued at approximately $5,990,221.44. The trade was a 29.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 250,324 shares of company stock valued at $7,728,453 in the last ninety days. Insiders own 22.56% of the company’s stock.

Hedge Funds Weigh In On SkyWater Technology

Hedge funds have recently modified their holdings of the stock. Pier Capital LLC acquired a new position in SkyWater Technology in the 4th quarter worth approximately $3,365,000. Quantbot Technologies LP increased its holdings in SkyWater Technology by 44,565.1% in the 3rd 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 during the period. Principal Financial Group Inc. acquired a new position in SkyWater Technology in the 3rd quarter worth approximately $752,000. Tudor Investment Corp ET AL acquired a new position in SkyWater Technology in the 3rd quarter worth approximately $1,202,000. Finally, Teton Advisors LLC acquired a new position in SkyWater Technology in the 3rd quarter worth approximately $1,129,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

SkyWater Technology Stock Down 3.9%

NASDAQ SKYT opened at $38.37 on Thursday. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.17. The company has a fifty day moving average of $32.81 and a two-hundred day moving average of $27.61. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 16.47 and a beta of 3.32. SkyWater Technology has a 52 week low of $8.18 and a 52 week high of $39.93.

SkyWater Technology (NASDAQ:SKYT) last posted 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 company had revenue of $160.69 million during 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 predict that SkyWater Technology will post -0.42 earnings per share for the current year.

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.