SkyWater Technology (NASDAQ:SKYT) Shares Up 5.2%

SkyWater Technology, Inc. (NASDAQ:SKYT) shares shot up 5.2% on Tuesday . The company traded as high as $10.80 and last traded at $10.79. 140,241 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 399,724 shares. The stock had previously closed at $10.26.

Analyst Upgrades and Downgrades

SKYT has been the subject of several research reports. Piper Sandler increased their price objective on shares of SkyWater Technology from $9.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. Needham & Company LLC upped their price target on shares of SkyWater Technology from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Finally, TD Cowen increased their price target on SkyWater Technology from $12.00 to $15.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th.

SkyWater Technology Stock Performance

The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.91 and a current ratio of 1.02. The stock’s 50 day moving average price is $10.21 and its 200 day moving average price is $8.66. The company has a market capitalization of $477.66 million, a P/E ratio of -15.06 and a beta of 4.18.

SkyWater Technology (NASDAQ:SKYT) last released its earnings results on Monday, February 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.12. SkyWater Technology had a negative net margin of 10.73% and a negative return on equity of 30.58%. The business had revenue of $79.15 million for the quarter, compared to analyst estimates of $74.90 million. As a group, equities analysts expect that SkyWater Technology, Inc. will post -0.05 EPS for the current year.

Insider Activity

In related news, CEO Thomas Sonderman sold 18,989 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $10.01, for a total transaction of $190,079.89. Following the completion of the sale, the chief executive officer now owns 498,413 shares of the company’s stock, valued at $4,989,114.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other SkyWater Technology news, CEO Thomas Sonderman sold 18,989 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $10.01, for a total value of $190,079.89. Following the completion of the sale, the chief executive officer now directly owns 498,413 shares in the company, valued at $4,989,114.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Loren A. Unterseher sold 368,709 shares of SkyWater Technology stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $12.14, for a total transaction of $4,476,127.26. Following the completion of the sale, the director now directly owns 13,022,293 shares of the company’s stock, valued at $158,090,637.02. The disclosure for this sale can be found here. Insiders have sold 398,218 shares of company stock valued at $4,787,187 in the last ninety days. 42.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC acquired a new stake in SkyWater Technology in the first quarter valued at approximately $119,000. Whalen Wealth Management Inc. bought a new position in shares of SkyWater Technology in the 1st quarter worth $243,000. Arlington Capital Management Inc. acquired a new stake in SkyWater Technology in the 1st quarter valued at $107,000. Gabelli Funds LLC increased its stake in SkyWater Technology by 2.1% during the 4th quarter. Gabelli Funds LLC now owns 61,202 shares of the company’s stock valued at $589,000 after purchasing an additional 1,275 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in SkyWater Technology by 622.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,712 shares of the company’s stock worth $55,000 after buying an additional 4,921 shares during the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

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.