SkyWater Technology, Inc. (NASDAQ:SKYT) Given Consensus Recommendation of “Hold” by Brokerages

Shares of SkyWater Technology, Inc. (NASDAQ:SKYT) have earned an average rating of “Hold” from the eight brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $32.00.

Several research analysts have weighed in on SKYT shares. Weiss Ratings restated a “sell (e+)” rating on shares of SkyWater Technology in a report on Wednesday, June 24th. Zacks Research upgraded shares of SkyWater Technology from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th.

Hedge Funds Weigh In On SkyWater Technology

Large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its holdings in SkyWater Technology by 112.0% during the 1st quarter. AQR Capital Management LLC now owns 313,993 shares of the company’s stock worth $2,226,000 after purchasing an additional 165,865 shares in the last quarter. Strs Ohio purchased a new stake in shares of SkyWater Technology in the first quarter worth approximately $173,000. Creative Planning lifted its holdings in shares of SkyWater Technology by 69.7% in the second quarter. Creative Planning now owns 34,283 shares of the company’s stock valued at $337,000 after purchasing an additional 14,085 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of SkyWater Technology by 27.4% in the second quarter. Rhumbline Advisers now owns 47,643 shares of the company’s stock valued at $469,000 after purchasing an additional 10,246 shares in the last quarter. Finally, American Century Companies Inc. purchased a new position in shares of SkyWater Technology during the second quarter valued at approximately $377,000. Institutional investors own 70.00% of the company’s stock.

SkyWater Technology Price Performance

Shares of NASDAQ:SKYT opened at $32.46 on Tuesday. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.17. SkyWater Technology has a twelve month low of $8.49 and a twelve month high of $39.93. The stock’s 50 day moving average is $33.46 and its 200-day moving average is $32.14. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 13.93 and a beta of 3.39.

SkyWater Technology (NASDAQ:SKYT) last issued its earnings results on Friday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter. SkyWater Technology had a negative return on equity of 7.88% and a net margin of 21.04%.The firm had revenue of $160.69 million during the quarter.

SkyWater Technology Company Profile

SkyWater Technology Solutions, Inc is a U.S.-based specialty semiconductor foundry headquartered in Bloomington, Minnesota. The company focuses on the development and manufacture of high-reliability integrated circuits using advanced processes on 200-millimeter wafers.

SkyWater’s service offerings span analog/mixed-signal, radio frequency (RF), micro-electromechanical systems (MEMS) and advanced packaging technologies. Its turnkey model includes multi-project wafer (MPW) runs, volume production, design enablement support and assembly and test services, enabling customers to take concepts from prototype to market.

Serving aerospace, defense, automotive, industrial, medical and communications sectors, SkyWater supports applications that demand rigorous performance, quality and traceability.