SkyWater Technology (NASDAQ:SKYT) Reaches New 12-Month High – What’s Next?

SkyWater Technology, Inc. (NASDAQ:SKYT) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $13.89 and last traded at $13.89, with a volume of 122853 shares changing hands. The stock had previously closed at $13.08.

Analysts Set New Price Targets

Several research analysts have recently commented on SKYT shares. Piper Sandler boosted their price target on SkyWater Technology from $9.00 to $12.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Needham & Company LLC reissued a “buy” rating and set a $12.00 price target on shares of SkyWater Technology in a research report on Monday, November 11th.

SkyWater Technology Stock Up 43.2 %

The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 0.87. The firm has a market cap of $892.60 million, a price-to-earnings ratio of -48.97 and a beta of 3.72. The business’s 50 day moving average price is $9.27 and its 200 day moving average price is $8.59.

Insider Activity at SkyWater Technology

In other SkyWater Technology news, Director Loren A. Unterseher sold 7,761 shares of SkyWater Technology 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 sale, the director now owns 12,806,264 shares of the company’s stock, valued at $118,714,067.28. The trade was a 0.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 42.55% of the stock is owned by company insiders.

Hedge Funds Weigh In On SkyWater Technology

Several hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP acquired a new position in shares of SkyWater Technology during the 3rd quarter valued at about $35,000. Allworth Financial LP acquired a new position in SkyWater Technology in the 3rd quarter valued at about $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 increased its position in shares of SkyWater Technology by 98,866.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 11,876 shares of the company’s stock worth $91,000 after purchasing an additional 11,864 shares during the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

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.