SkyWater Technology (NASDAQ:SKYT) Trading 7% Higher – Should You Buy?

SkyWater Technology, Inc. (NASDAQ:SKYT)’s share price shot up 7% during mid-day trading on Thursday . The company traded as high as $15.81 and last traded at $15.79. 705,561 shares traded hands during trading, an increase of 46% from the average session volume of 483,141 shares. The stock had previously closed at $14.76.

Analyst Ratings Changes

Several research analysts have commented on the stock. Needham & Company LLC restated a “buy” rating and issued a $12.00 target price on shares of SkyWater Technology in a research report on Monday, November 11th. Piper Sandler raised their target price on SkyWater Technology from $9.00 to $12.00 and gave the company an “overweight” rating in a research report on Friday, October 25th.

SkyWater Technology Stock Up 7.3 %

The company has a debt-to-equity ratio of 0.53, a current ratio of 0.87 and a quick ratio of 0.78. The firm has a market capitalization of $754.87 million, a P/E ratio of -45.26 and a beta of 3.72. The firm’s fifty day moving average price is $9.81 and its 200-day moving average price is $8.85.

Insider Activity at SkyWater Technology

In related news, Director Loren A. Unterseher sold 7,761 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $9.27, for a total transaction of $71,944.47. Following the completion of the sale, the director now directly owns 12,806,264 shares in the company, valued at approximately $118,714,067.28. This trade represents a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 42.55% of the company’s stock.

Institutional Investors Weigh In On SkyWater Technology

Large investors have recently modified their holdings of the stock. Lountzis Asset Management LLC purchased a new stake in shares of SkyWater Technology during the second quarter valued at $2,212,000. AQR Capital Management LLC lifted its stake in SkyWater Technology by 183.6% during the second quarter. AQR Capital Management LLC now owns 119,828 shares of the company’s stock valued at $917,000 after buying an additional 77,571 shares in the last quarter. Inspire Investing LLC acquired a new position in shares of SkyWater Technology in the third quarter worth about $418,000. Geode Capital Management LLC increased its position in shares of SkyWater Technology by 6.4% in the third quarter. Geode Capital Management LLC now owns 586,933 shares of the company’s stock worth $5,330,000 after acquiring an additional 35,219 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of SkyWater Technology by 20.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 199,318 shares of the company’s stock valued at $1,810,000 after acquiring an additional 34,383 shares during the period. 70.00% of the stock is owned by institutional investors.

SkyWater Technology Company Profile

SkyWater Technology, Inc, together with its subsidiaries, operates as a pure-play technology foundry that engages in the provision of semiconductor development, manufacturing, and packaging services in the United States. The company offers engineering and process development support services to co-create technologies with customers; and semiconductor manufacturing services for various silicon-based analog and mixed-signal, micro-electromechanical systems, and rad-hard integrated circuits.