Investors Purchase High Volume of SkyWater Technology Call Options (NASDAQ:SKYT)

SkyWater Technology, Inc. (NASDAQ:SKYT) saw some unusual options trading on Wednesday. Stock investors purchased 1,596 call options on the stock. This represents an increase of approximately 105% compared to the typical daily volume of 777 call options.

Insider Activity

In related news, Director Loren A. Unterseher sold 7,761 shares of the company’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 directly owns 12,806,264 shares in the company, valued at $118,714,067.28. This represents a 0.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 42.55% of the company’s stock.

Hedge Funds Weigh In On SkyWater Technology

Several institutional investors have recently added to or reduced their stakes in SKYT. Quarry LP bought a new position in shares of SkyWater Technology during the 3rd quarter worth about $35,000. Victory Capital Management Inc. raised its stake in SkyWater Technology by 4.2% during the 2nd quarter. Victory Capital Management Inc. now owns 95,150 shares of the company’s stock worth $728,000 after buying an additional 3,850 shares during the period. Allworth Financial LP bought a new position in SkyWater Technology in the third quarter worth approximately $41,000. XTX Topco Ltd grew its stake in SkyWater Technology by 19.5% in the second quarter. XTX Topco Ltd now owns 30,836 shares of the company’s stock valued at $236,000 after acquiring an additional 5,038 shares during the period. Finally, nVerses Capital LLC acquired a new stake in SkyWater Technology in the third quarter valued at approximately $60,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

SkyWater Technology Price Performance

SKYT stock opened at $12.44 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.87 and a debt-to-equity ratio of 0.53. The firm has a market cap of $592.84 million, a price-to-earnings ratio of -35.54 and a beta of 3.72. The company’s fifty day simple moving average is $9.46 and its 200 day simple moving average is $8.66. SkyWater Technology has a 12-month low of $5.63 and a 12-month high of $19.00.

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.