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

Shares of SkyWater Technology, Inc. (NASDAQ:SKYT) have received a consensus recommendation of “Hold” from the seven research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $32.00.

A number of brokerages recently commented on SKYT. Piper Sandler cut SkyWater Technology from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $17.00 to $35.00 in a research report on Monday, January 26th. Stifel Nicolaus set a $35.00 price objective on shares of SkyWater Technology in a research note on Monday, January 26th. Craig Hallum lowered shares of SkyWater Technology from a “buy” rating to a “hold” rating and set a $35.00 target price on the stock. in a report on Tuesday, January 27th. Needham & Company LLC downgraded shares of SkyWater Technology from a “buy” rating to a “hold” rating in a report on Monday, January 26th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of SkyWater Technology in a research report on Monday, December 29th.

SkyWater Technology Stock Performance

Shares of SKYT opened at $29.46 on Tuesday. The company has a market cap of $1.43 billion, a PE ratio of 12.12 and a beta of 3.51. The firm has a 50-day moving average of $27.94 and a 200-day moving average of $19.82. SkyWater Technology has a one year low of $5.67 and a one year high of $36.27. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.67 and a quick ratio of 0.61.

SkyWater Technology (NASDAQ:SKYT) last issued its earnings results on Wednesday, February 25th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.02). SkyWater Technology had a negative return on equity of 8.42% and a net margin of 26.90%.The business had revenue of $171.04 million for the quarter, compared to the consensus estimate of $160.05 million. During the same quarter in the prior year, the firm posted $0.04 earnings per share. The business’s revenue was up 13.5% compared to the same quarter last year. As a group, equities analysts forecast that SkyWater Technology will post -0.22 earnings per share for the current year.

Institutional Trading of SkyWater Technology

A number of hedge funds have recently added to or reduced their stakes in the stock. Inspire Investing LLC grew its position in shares of SkyWater Technology by 2.5% in the 4th quarter. Inspire Investing LLC now owns 25,460 shares of the company’s stock valued at $462,000 after buying an additional 612 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in 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 acquiring an additional 991 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in SkyWater Technology by 10.7% in the third quarter. NewEdge Advisors LLC now owns 10,350 shares of the company’s stock valued at $193,000 after acquiring an additional 1,000 shares during the last quarter. Quarry LP acquired a new stake in SkyWater Technology during the 4th quarter valued at approximately $25,000. Finally, State of Wyoming acquired a new stake in SkyWater Technology during the 4th quarter valued at 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.