SkyWater Technology (NASDAQ:SKYT) Shares Up 10.5% – What’s Next?

SkyWater Technology, Inc. (NASDAQ:SKYT) shares shot up 10.5% during mid-day trading on Friday . The company traded as high as $13.83 and last traded at $13.75. 450,074 shares changed hands during mid-day trading, a decline of 4% from the average session volume of 470,118 shares. The stock had previously closed at $12.44.

Analyst Ratings Changes

SKYT has been the topic of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $12.00 price target on shares of SkyWater Technology in a research note on Monday, November 11th. Piper Sandler upped their target price on shares of SkyWater Technology from $9.00 to $12.00 and gave the stock an “overweight” rating in a report on Friday, October 25th.

SkyWater Technology Trading Up 16.2 %

The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 0.87. The stock has a market cap of $688.63 million, a P/E ratio of -41.29 and a beta of 3.72. The company has a 50-day simple moving average of $9.46 and a 200-day simple moving average of $8.66.

Insiders Place Their Bets

In other news, Director Loren A. Unterseher sold 7,761 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $9.27, for a total value of $71,944.47. Following the completion of the sale, the director now directly owns 12,806,264 shares of the company’s stock, valued at $118,714,067.28. This represents a 0.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 42.55% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Quarry LP bought a new position in shares of SkyWater Technology during the third quarter worth $35,000. Allworth Financial LP acquired a new stake in SkyWater Technology during the 3rd quarter worth $41,000. nVerses Capital LLC bought a new position in SkyWater Technology during the third quarter worth about $60,000. The Manufacturers Life Insurance Company acquired a new position in SkyWater Technology in the second quarter valued at about $88,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of SkyWater Technology by 98,866.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 11,876 shares of the company’s stock worth $91,000 after acquiring an additional 11,864 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

About SkyWater Technology

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.