SkyWater Technology (NASDAQ:SKYT) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of SkyWater Technology, Inc. (NASDAQ:SKYT) saw unusually-high trading volume on Tuesday . Approximately 373,310 shares traded hands during trading, a decline of 22% from the previous session’s volume of 477,270 shares.The stock last traded at $14.10 and had previously closed at $13.08.

Analyst Ratings Changes

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

SkyWater Technology Stock Performance

The firm has a 50-day moving average of $9.61 and a 200-day moving average of $8.76. 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 stock has a market capitalization of $711.03 million, a price-to-earnings ratio of -42.63 and a beta of 3.72.

Insiders Place Their Bets

In other news, Director Loren A. Unterseher sold 7,761 shares of the stock in a transaction dated Friday, December 13th. The shares were 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 in the company, valued at $118,714,067.28. This represents a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 42.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SkyWater Technology

Several large investors have recently made changes to their positions in SKYT. Lountzis Asset Management LLC purchased a new stake in shares of SkyWater Technology during the second quarter worth approximately $2,212,000. AQR Capital Management LLC raised its stake in SkyWater Technology by 183.6% in the second quarter. AQR Capital Management LLC now owns 119,828 shares of the company’s stock valued at $917,000 after buying an additional 77,571 shares in the last quarter. Inspire Investing LLC purchased a new position in shares of SkyWater Technology in the 3rd quarter valued at about $418,000. Geode Capital Management LLC lifted its stake in SkyWater Technology by 6.4% during the third quarter. Geode Capital Management LLC now owns 586,933 shares of the company’s stock worth $5,330,000 after purchasing an additional 35,219 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in SkyWater Technology by 20.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 199,318 shares of the company’s stock valued at $1,810,000 after purchasing an additional 34,383 shares in the last quarter. 70.00% of the stock is currently 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.