SkyWater Technology, Inc. (NASDAQ:SKYT) Receives $32.00 Average Price Target from Analysts

Shares of SkyWater Technology, Inc. (NASDAQ:SKYT) have been given a consensus recommendation of “Hold” by the eight brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $32.00.

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

SkyWater Technology Stock Performance

NASDAQ:SKYT opened at $34.24 on Monday. SkyWater Technology has a 1 year low of $8.49 and a 1 year high of $39.93. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 14.70 and a beta of 3.34. The business has a fifty day moving average of $35.51 and a 200-day moving average of $30.59. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.44 and a current ratio of 0.51.

SkyWater Technology (NASDAQ:SKYT) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.25) earnings per share for the quarter. The company had revenue of $160.69 million during the quarter. SkyWater Technology had a negative return on equity of 7.88% and a net margin of 21.04%. Equities analysts predict that SkyWater Technology will post -0.42 earnings per share for the current year.

Insider Activity

In other news, CFO Steve Manko sold 84,215 shares of the business’s stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $30.41, for a total value of $2,560,978.15. Following the sale, the chief financial officer owned 171,567 shares of the company’s stock, valued at approximately $5,217,352.47. The trade was a 32.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 22.56% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC lifted its holdings in SkyWater Technology by 112.0% in the 1st quarter. AQR Capital Management LLC now owns 313,993 shares of the company’s stock valued at $2,226,000 after acquiring an additional 165,865 shares during the last quarter. Strs Ohio acquired a new position in shares of SkyWater Technology in the 1st quarter worth approximately $173,000. Creative Planning raised its holdings in shares of SkyWater Technology by 69.7% in the 2nd quarter. Creative Planning now owns 34,283 shares of the company’s stock worth $337,000 after purchasing an additional 14,085 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of SkyWater Technology by 27.4% in the 2nd quarter. Rhumbline Advisers now owns 47,643 shares of the company’s stock worth $469,000 after purchasing an additional 10,246 shares in the last quarter. Finally, American Century Companies Inc. acquired a new stake in SkyWater Technology during the second quarter valued at approximately $377,000. 70.00% of the stock is owned by institutional investors and hedge funds.

About SkyWater Technology

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.