SkyWater Technology (NASDAQ:SKYT) Stock Price Down 9% – Here’s Why

Shares of SkyWater Technology, Inc. (NASDAQ:SKYT) dropped 9% during trading on Friday . The company traded as low as $16.42 and last traded at $17.0330. Approximately 467,815 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 1,056,386 shares. The stock had previously closed at $18.71.

Analyst Upgrades and Downgrades

SKYT has been the topic of a number of research analyst reports. Piper Sandler increased their price objective on shares of SkyWater Technology from $12.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday. Cowen reiterated a “buy” rating on shares of SkyWater Technology in a research note on Thursday. Needham & Company LLC increased their price target on SkyWater Technology from $15.00 to $20.00 and gave the company a “buy” rating in a report on Thursday. Wall Street Zen raised SkyWater Technology from a “sell” rating to a “hold” rating in a report on Friday, September 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of SkyWater Technology in a research report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, SkyWater Technology currently has a consensus rating of “Moderate Buy” and an average target price of $21.50.

SkyWater Technology Stock Performance

The stock has a market cap of $867.24 million, a P/E ratio of 6.98 and a beta of 3.49. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.97 and a current ratio of 1.06. The business’s 50-day moving average price is $15.45 and its 200-day moving average price is $11.66.

SkyWater Technology (NASDAQ:SKYT) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.41. SkyWater Technology had a negative return on equity of 7.97% and a net margin of 36.36%.The business had revenue of $150.74 million during the quarter, compared to analysts’ expectations of $135.50 million. SkyWater Technology has set its Q4 2025 guidance at -0.080-0.040 EPS. As a group, sell-side analysts expect that SkyWater Technology, Inc. will post -0.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Loren A. Unterseher sold 756,516 shares of the company’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $12.06, for a total value of $9,123,582.96. Following the completion of the transaction, the director owned 8,161,012 shares of the company’s stock, valued at $98,421,804.72. This represents a 8.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 3,364,601 shares of company stock worth $41,174,012 over the last quarter. 37.85% of the stock is owned by insiders.

Institutional Investors Weigh In On SkyWater Technology

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in SkyWater Technology by 4.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,047,168 shares of the company’s stock worth $38,200,000 after acquiring an additional 94,948 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of SkyWater Technology by 15.7% in the second quarter. Ameriprise Financial Inc. now owns 1,693,056 shares of the company’s stock valued at $16,660,000 after purchasing an additional 229,954 shares in the last quarter. Emerald Advisers LLC grew its holdings in shares of SkyWater Technology by 36.2% in the second quarter. Emerald Advisers LLC now owns 1,362,983 shares of the company’s stock valued at $13,412,000 after purchasing an additional 362,267 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its position in SkyWater Technology by 1.5% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 725,120 shares of the company’s stock worth $13,531,000 after purchasing an additional 10,976 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in SkyWater Technology by 13,712.9% during the third quarter. Federated Hermes Inc. now owns 347,119 shares of the company’s stock valued at $6,477,000 after purchasing an additional 344,606 shares in the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

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.