SkyWater Technology (NASDAQ:SKYT) Stock Price Down 7.1% – Should You Sell?

Shares of SkyWater Technology, Inc. (NASDAQ:SKYT) traded down 7.1% during mid-day trading on Monday . The company traded as low as $12.77 and last traded at $12.77. 346,425 shares were traded during trading, a decline of 27% from the average session volume of 475,419 shares. The stock had previously closed at $13.75.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Needham & Company LLC reiterated 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 boosted their price target on SkyWater Technology from $9.00 to $12.00 and gave the stock an “overweight” rating in a report on Friday, October 25th.

SkyWater Technology Stock Performance

The stock has a fifty day simple moving average of $9.55 and a two-hundred day simple moving average of $8.72. 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 capitalization of $613.81 million, a price-to-earnings ratio of -36.80 and a beta of 3.72.

Insider Activity

In related news, Director Loren A. Unterseher sold 7,761 shares of the stock in a transaction on 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 approximately $118,714,067.28. This represents a 0.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 42.55% of the stock is currently owned by company insiders.

Institutional Trading of SkyWater Technology

Several institutional investors have recently made changes to their positions in SKYT. Allspring Global Investments Holdings LLC grew its position in SkyWater Technology by 98,866.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 11,876 shares of the company’s stock worth $91,000 after purchasing an additional 11,864 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of SkyWater Technology by 36.3% in the 2nd quarter. Rhumbline Advisers now owns 32,764 shares of the company’s stock worth $251,000 after buying an additional 8,731 shares during the last quarter. Whalen Wealth Management Inc. increased its stake in shares of SkyWater Technology by 41.1% during the 2nd quarter. Whalen Wealth Management Inc. now owns 33,689 shares of the company’s stock worth $258,000 after purchasing an additional 9,816 shares during the last quarter. Lountzis Asset Management LLC purchased a new position in SkyWater Technology in the second quarter valued at approximately $2,212,000. Finally, Victory Capital Management Inc. lifted its stake in SkyWater Technology by 4.2% in the second quarter. Victory Capital Management Inc. now owns 95,150 shares of the company’s stock valued at $728,000 after purchasing an additional 3,850 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

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.