SkyWater Technology Target of Unusually Large Options Trading (NASDAQ:SKYT)

SkyWater Technology, Inc. (NASDAQ:SKYTGet Free Report) saw unusually large options trading on Wednesday. Traders bought 1,596 call options on the company. This is an increase of 105% compared to the typical daily volume of 777 call options.

Insider Buying and Selling

In related news, Director Loren A. Unterseher sold 7,761 shares of the company’s stock in a transaction 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 sale, the director now owns 12,806,264 shares of the company’s stock, valued at $118,714,067.28. This represents a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 42.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP acquired a new stake in SkyWater Technology in the third quarter worth about $35,000. Allworth Financial LP purchased a new position in SkyWater Technology in the 3rd quarter worth $41,000. nVerses Capital LLC purchased a new position in shares of SkyWater Technology in the third quarter worth about $60,000. The Manufacturers Life Insurance Company acquired a new stake in SkyWater Technology during the 2nd quarter valued at approximately $88,000. Finally, Allspring Global Investments Holdings LLC lifted its position in SkyWater Technology by 98,866.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 11,876 shares of the company’s stock valued at $91,000 after purchasing an additional 11,864 shares during the period. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

SkyWater Technology Stock Up 31.0 %

SkyWater Technology stock traded up $4.06 during midday trading on Wednesday, hitting $17.14. 2,009,578 shares of the company’s stock were exchanged, compared to its average volume of 426,612. The company has a market cap of $816.82 million, a PE ratio of -47.43 and a beta of 3.72. The firm has a 50-day moving average of $9.27 and a two-hundred day moving average of $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. SkyWater Technology has a 12 month low of $5.63 and a 12 month high of $17.40.

Analysts Set New Price Targets

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

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SkyWater Technology Company Profile

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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.

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