SkyWater Technology (NASDAQ:SKYT) Price Target Raised to $17.00 at Piper Sandler

SkyWater Technology (NASDAQ:SKYT) had its price target lifted by equities research analysts at Piper Sandler from $12.00 to $17.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 1.94% from the company’s previous close.

Several other equities analysts also recently commented on SKYT. Wall Street Zen raised SkyWater Technology from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. TD Cowen lifted their price target on SkyWater Technology from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday. Needham & Company LLC lifted their price objective on SkyWater Technology from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday. Jefferies Financial Group upgraded shares of SkyWater Technology to a “hold” rating in a research report on Tuesday, October 28th. Finally, Stifel Nicolaus began coverage on SkyWater Technology in a report on Tuesday, October 21st. They set a “buy” rating and a $25.00 price target on the stock. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.50.

SkyWater Technology Price Performance

Shares of SKYT traded up $1.97 during midday trading on Thursday, hitting $16.68. 2,565,054 shares of the company traded hands, compared to its average volume of 1,036,853. The stock has a market cap of $803.45 million, a price-to-earnings ratio of -49.59 and a beta of 3.49. The firm has a 50 day moving average of $15.20 and a 200-day moving average of $11.50. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.97 and a current ratio of 1.06. SkyWater Technology has a 52 week low of $5.67 and a 52 week high of $20.85.

Insider Buying and Selling

In other news, Director Loren A. Unterseher sold 756,516 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $12.06, for a total transaction of $9,123,582.96. Following the completion of the sale, the director owned 8,161,012 shares in the company, valued at approximately $98,421,804.72. The trade was a 8.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 3,402,446 shares of company stock valued at $41,689,461 in the last 90 days. Corporate insiders own 37.85% of the company’s stock.

Institutional Trading of SkyWater Technology

Large investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in SkyWater Technology by 941.3% in the first quarter. GAMMA Investing LLC now owns 4,613 shares of the company’s stock valued at $33,000 after purchasing an additional 4,170 shares during the period. Lountzis Asset Management LLC raised its holdings in SkyWater Technology by 1.6% during the first quarter. Lountzis Asset Management LLC now owns 291,940 shares of the company’s stock worth $2,146,000 after purchasing an additional 4,618 shares during the last quarter. Emerald Mutual Fund Advisers Trust grew its stake in SkyWater Technology by 0.4% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 602,297 shares of the company’s stock valued at $4,270,000 after acquiring an additional 2,555 shares during the last quarter. Emerald Advisers LLC increased its stake in shares of SkyWater Technology by 1.3% during the 1st quarter. Emerald Advisers LLC now owns 1,000,716 shares of the company’s stock worth $7,095,000 after purchasing an additional 12,562 shares in the last quarter. Finally, CWM LLC lifted its position in shares of SkyWater Technology by 320.2% in the first quarter. CWM LLC now owns 5,719 shares of the company’s stock valued at $41,000 after acquiring an additional 4,358 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

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.