SkyWater Technology, Inc. (NASDAQ:SKYT) Short Interest Update

SkyWater Technology, Inc. (NASDAQ:SKYT) saw a significant decline in short interest in the month of January. As of January 30th, there was short interest totaling 2,466,063 shares, a decline of 40.7% from the January 15th total of 4,155,698 shares. Approximately 8.2% of the shares of the company are sold short. Based on an average daily trading volume, of 4,270,936 shares, the short-interest ratio is presently 0.6 days. Based on an average daily trading volume, of 4,270,936 shares, the short-interest ratio is presently 0.6 days. Approximately 8.2% of the shares of the company are sold short.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Piper Sandler downgraded SkyWater Technology from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $17.00 to $35.00 in a research note on Monday, January 26th. Needham & Company LLC lowered shares of SkyWater Technology from a “buy” rating to a “hold” rating in a research report on Monday, January 26th. Stifel Nicolaus set a $35.00 price objective on shares of SkyWater Technology in a research report on Monday, January 26th. TD Cowen downgraded shares of SkyWater Technology from a “buy” rating to a “hold” rating and lifted their target price for the company from $24.00 to $35.00 in a report on Tuesday, January 27th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of SkyWater Technology in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $32.00.

Insiders Place Their Bets

In other news, Director Loren A. Unterseher sold 100,000 shares of SkyWater Technology stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $14.54, for a total value of $1,454,000.00. Following the transaction, the director directly owned 4,487,394 shares of the company’s stock, valued at $65,246,708.76. The trade was a 2.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Thomas Sonderman sold 5,210 shares of the stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $13.38, for a total transaction of $69,709.80. Following the sale, the chief executive officer owned 521,757 shares of the company’s stock, valued at $6,981,108.66. This trade represents a 0.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 326,872 shares of company stock worth $4,756,214 over the last ninety days. Corporate insiders own 37.85% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in shares of SkyWater Technology during the 4th quarter valued at approximately $25,000. Federated Hermes Inc. acquired a new position in SkyWater Technology during the second quarter worth $25,000. BNP Paribas Financial Markets boosted its position in SkyWater Technology by 56.4% during the second quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company’s stock worth $27,000 after purchasing an additional 991 shares in the last quarter. State of Wyoming acquired a new stake in SkyWater Technology in the fourth quarter valued at $35,000. Finally, Russell Investments Group Ltd. grew its holdings in SkyWater Technology by 814.1% in the third quarter. Russell Investments Group Ltd. now owns 2,468 shares of the company’s stock valued at $46,000 after purchasing an additional 2,198 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

SkyWater Technology Price Performance

Shares of NASDAQ SKYT opened at $29.23 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.61 and a current ratio of 0.67. SkyWater Technology has a one year low of $5.67 and a one year high of $36.27. The firm has a market capitalization of $1.42 billion, a P/E ratio of 11.33 and a beta of 3.51. The company’s fifty day moving average is $25.68 and its two-hundred day moving average is $18.49.

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.