SkyWater Technology (NASDAQ:SKYT) Sets New 1-Year High – Here’s Why

SkyWater Technology, Inc. (NASDAQ:SKYT)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $13.89 and last traded at $13.89, with a volume of 122853 shares changing hands. The stock had previously closed at $13.08.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $12.00 target price on shares of SkyWater Technology in a research report on Monday, November 11th. Piper Sandler raised their price objective 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 43.2 %

The stock has a market cap of $892.60 million, a P/E ratio of -48.97 and a beta of 3.72. The company’s fifty day moving average price is $9.27 and its 200-day moving average price is $8.59. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 0.87.

Insider Buying and Selling at SkyWater Technology

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

Hedge Funds Weigh In On SkyWater Technology

A number of institutional investors have recently modified their holdings of the stock. Emerald Advisers LLC grew its stake in SkyWater Technology by 1.7% in the third quarter. Emerald Advisers LLC now owns 1,113,353 shares of the company’s stock worth $10,109,000 after purchasing an additional 18,423 shares in the last quarter. Baillie Gifford & Co. raised its holdings in shares of SkyWater Technology by 4.4% in the second quarter. Baillie Gifford & Co. now owns 1,007,449 shares of the company’s stock valued at $7,707,000 after acquiring an additional 42,649 shares in the last quarter. Geode Capital Management LLC lifted its stake in 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 during the period. State Street Corp grew its holdings in SkyWater Technology by 4.7% during the 3rd quarter. State Street Corp now owns 473,475 shares of the company’s stock worth $4,299,000 after acquiring an additional 21,134 shares in the last quarter. Finally, Lountzis Asset Management LLC bought a new stake in shares of SkyWater Technology in the 2nd quarter valued at about $2,212,000. 70.00% of the stock is owned by hedge funds and other 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.