SkyWater Technology (NASDAQ:SKYT) Sees Large Volume Increase – Time to Buy?

SkyWater Technology, Inc. (NASDAQ:SKYT) shares saw unusually-strong 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.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SKYT shares. Needham & Company LLC reiterated a “buy” rating and set a $12.00 price objective on shares of SkyWater Technology in a research note on Monday, November 11th. Piper Sandler boosted 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.

SkyWater Technology Price Performance

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 stock’s 50 day moving average price is $9.81 and its two-hundred day moving average price is $8.85. The stock has a market cap of $703.40 million, a price-to-earnings ratio of -42.17 and a beta of 3.72.

Insiders Place Their Bets

In other SkyWater Technology news, Director Loren A. Unterseher sold 7,761 shares of the company’s stock in a transaction 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 approximately $118,714,067.28. This represents a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 42.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SKYT. Quarry LP acquired a new stake in shares of SkyWater Technology in the third quarter valued at about $35,000. Allworth Financial LP purchased a new stake in shares of SkyWater Technology in the 3rd quarter valued at approximately $41,000. nVerses Capital LLC acquired a new stake in shares of SkyWater Technology during the 3rd quarter worth approximately $60,000. The Manufacturers Life Insurance Company purchased a new stake in shares of SkyWater Technology during the 2nd quarter valued at approximately $88,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in SkyWater Technology by 98,866.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 11,876 shares of the company’s stock valued at $91,000 after acquiring an additional 11,864 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

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.