SkyWater Technology (NASDAQ:SKYT) Sees Large Volume Increase – Time to Buy?

SkyWater Technology, Inc. (NASDAQ:SKYT) saw unusually-high trading volume on Tuesday . Approximately 379,993 shares traded hands during mid-day trading, a decline of 6% from the previous session’s volume of 405,189 shares.The stock last traded at $11.57 and had previously closed at $10.16.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Piper Sandler increased their target price on shares of SkyWater Technology from $9.00 to $12.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Needham & Company LLC reiterated a “buy” rating and issued a $12.00 price objective on shares of SkyWater Technology in a report on Monday, November 11th.

SkyWater Technology Price Performance

The company has a current ratio of 0.87, a quick ratio of 0.78 and a debt-to-equity ratio of 0.53. The business’s 50 day moving average price is $9.40 and its two-hundred day moving average price is $8.64. The stock has a market cap of $751.06 million, a P/E ratio of -45.03 and a beta of 3.72.

Insiders Place Their Bets

In other SkyWater Technology news, Director Loren A. Unterseher sold 7,761 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 12,806,264 shares of the company’s stock, valued at approximately $118,714,067.28. This trade represents a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 42.55% of the company’s stock.

Institutional Trading of SkyWater Technology

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP bought a new stake in SkyWater Technology in the third quarter worth $35,000. Allworth Financial LP bought a new position in SkyWater Technology in the 3rd quarter worth about $41,000. nVerses Capital LLC purchased a new stake in SkyWater Technology during the 3rd quarter valued at about $60,000. The Manufacturers Life Insurance Company bought a new stake in SkyWater Technology during the 2nd quarter valued at about $88,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of 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 acquiring an additional 11,864 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

About SkyWater Technology

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.