SkyWater Technology, Inc. (NASDAQ:SKYT – Get 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 %
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.
Get Our Latest Research Report on SkyWater Technology
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.
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