SkyWater Technology (NASDAQ:SKYT) Given New $17.00 Price Target at Piper Sandler

SkyWater Technology (NASDAQ:SKYT) had its target price boosted by Piper Sandler from $12.00 to $17.00 in a research note published on Thursday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

SKYT has been the topic of several other research reports. Stifel Nicolaus assumed coverage on shares of SkyWater Technology in a research note on Tuesday, October 21st. They set a “buy” rating and a $25.00 price objective on the stock. Cowen restated a “buy” rating on shares of SkyWater Technology in a report on Thursday. TD Cowen lifted their price objective on SkyWater Technology from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday. Needham & Company LLC upped their target price on SkyWater Technology from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of SkyWater Technology in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $21.50.

SkyWater Technology Price Performance

NASDAQ:SKYT opened at $18.71 on Thursday. SkyWater Technology has a 12-month low of $5.67 and a 12-month high of $20.85. The firm has a market cap of $901.45 million, a price-to-earnings ratio of 7.25 and a beta of 3.49. The company’s 50-day moving average is $15.33 and its two-hundred day moving average is $11.55. The company has a current ratio of 1.06, a quick ratio of 0.97 and a debt-to-equity ratio of 0.68.

Insider Activity at SkyWater Technology

In other news, Director Loren A. Unterseher sold 756,516 shares of SkyWater Technology 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 transaction, the director directly owned 8,161,012 shares of the company’s stock, valued at $98,421,804.72. The trade was a 8.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last quarter, insiders sold 3,364,601 shares of company stock valued at $41,174,012. Company insiders own 37.85% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets grew its stake in SkyWater Technology by 56.4% during the second quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company’s stock worth $27,000 after buying an additional 991 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of SkyWater Technology by 15.4% during the 2nd quarter. NewEdge Advisors LLC now owns 9,350 shares of the company’s stock valued at $92,000 after acquiring an additional 1,250 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of SkyWater Technology by 1.6% during the 1st quarter. Deutsche Bank AG now owns 84,977 shares of the company’s stock valued at $602,000 after acquiring an additional 1,372 shares in the last quarter. CWM LLC boosted its position in SkyWater Technology by 291.3% during the 3rd quarter. CWM LLC now owns 3,138 shares of the company’s stock worth $59,000 after purchasing an additional 2,336 shares during the period. Finally, Federated Hermes Inc. acquired a new stake in SkyWater Technology in the 2nd quarter valued at $25,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

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.