SkyWater Technology, Inc. (NASDAQ:SKYT) Given Average Recommendation of “Hold” by Analysts

Shares of SkyWater Technology, Inc. (NASDAQ:SKYT) have received an average rating of “Hold” from the eight research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $32.00.

SKYT has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of SkyWater Technology in a research note on Wednesday, June 24th. Zacks Research upgraded shares of SkyWater Technology from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th.

Institutional Investors Weigh In On SkyWater Technology

A number of large investors have recently bought and sold shares of the stock. KBC Group NV acquired a new position in shares of SkyWater Technology during the first quarter valued at about $27,000. Quarry LP bought a new position in shares of SkyWater Technology during the 4th quarter worth about $25,000. State of Wyoming acquired a new stake in shares of SkyWater Technology in the 4th quarter valued at about $35,000. Russell Investments Group Ltd. grew its stake in shares of SkyWater Technology by 814.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,468 shares of the company’s stock valued at $46,000 after buying an additional 2,198 shares during the period. Finally, Federated Hermes Inc. bought a new stake in SkyWater Technology in the 2nd quarter valued at about $25,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

SkyWater Technology Stock Performance

SKYT stock opened at $32.46 on Tuesday. The stock has a 50-day moving average price of $33.46 and a 200-day moving average price of $32.14. SkyWater Technology has a 1-year low of $8.49 and a 1-year high of $39.93. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.17. The firm has a market cap of $1.60 billion, a PE ratio of 13.93 and a beta of 3.39.

SkyWater Technology (NASDAQ:SKYT) last announced its earnings results on Friday, May 8th. The company reported ($0.25) EPS for the quarter. SkyWater Technology had a net margin of 21.04% and a negative return on equity of 7.88%. The business had revenue of $160.69 million for the quarter.

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.