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

Shares of SkyWater Technology, Inc. (NASDAQ:SKYT) have been given a consensus recommendation of “Hold” by the eight ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $32.00.

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

SkyWater Technology Price Performance

Shares of NASDAQ:SKYT opened at $34.24 on Monday. SkyWater Technology has a 52 week low of $8.49 and a 52 week high of $39.93. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.44 and a current ratio of 0.51. The company’s fifty day moving average is $35.51 and its 200-day moving average is $30.49. The company has a market capitalization of $1.68 billion, a PE ratio of 14.70 and a beta of 3.34.

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

Insider Activity at SkyWater Technology

In other news, CFO Steve Manko sold 75,000 shares of the business’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 completion of the transaction, the chief financial officer directly owned 96,567 shares in the company, valued at approximately $3,387,570.36. The trade was a 43.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 22.56% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SKYT. Quarry LP acquired a new stake in shares of SkyWater Technology during the fourth quarter worth $25,000. Federated Hermes Inc. acquired a new stake in SkyWater Technology in the 2nd quarter valued at about $25,000. KBC Group NV bought a new position in SkyWater Technology during the first quarter worth $27,000. BNP Paribas Financial Markets grew its position in shares of SkyWater Technology by 56.4% in the second quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company’s stock valued at $27,000 after purchasing an additional 991 shares during the last quarter. Finally, State of Wyoming bought a new position in shares of SkyWater Technology during the fourth quarter worth approximately $35,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

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.