SkyWater Technology (NASDAQ:SKYT) Shares Gap Up – Here’s Why

SkyWater Technology, Inc. (NASDAQ:SKYT)’s share price gapped up before the market opened on Friday . The stock had previously closed at $18.16, but opened at $18.96. SkyWater Technology shares last traded at $20.7030, with a volume of 392,935 shares.

Analyst Ratings Changes

Several brokerages have recently issued reports on SKYT. Needham & Company LLC boosted their price target on shares of SkyWater Technology from $15.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Weiss Ratings restated a “sell (e+)” rating on shares of SkyWater Technology in a research report on Monday. Wall Street Zen upgraded shares of SkyWater Technology from a “sell” rating to a “hold” rating in a research note on Friday, September 5th. Jefferies Financial Group upgraded SkyWater Technology to a “hold” rating in a research report on Tuesday, October 28th. Finally, Stifel Nicolaus initiated coverage on SkyWater Technology in a report on Tuesday, October 21st. They set a “buy” rating and a $25.00 price target on the stock. 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.50.

SkyWater Technology Stock Up 13.6%

The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of 7.99 and a beta of 3.49. The company has a quick ratio of 0.61, a current ratio of 0.67 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average price of $17.19 and a 200-day moving average price of $14.08.

SkyWater Technology (NASDAQ:SKYT) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.41. SkyWater Technology had a net margin of 36.36% and a negative return on equity of 4.96%. The company had revenue of $150.74 million during the quarter, compared to analyst estimates of $135.50 million. SkyWater Technology has set its Q4 2025 guidance at -0.080-0.040 EPS. As a group, equities analysts anticipate that SkyWater Technology, Inc. will post -0.22 earnings per share for the current fiscal year.

Insider Buying and Selling at SkyWater Technology

In other news, CEO Thomas Sonderman sold 5,210 shares of SkyWater Technology stock in a transaction on Friday, November 21st. The stock was sold at an average price of $13.38, for a total transaction of $69,709.80. Following the transaction, the chief executive officer owned 521,757 shares in the company, valued at approximately $6,981,108.66. The trade was a 0.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Steve Manko sold 50,000 shares of the stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $17.40, for a total value of $870,000.00. Following the completion of the sale, the chief financial officer directly owned 277,122 shares of the company’s stock, valued at approximately $4,821,922.80. This represents a 15.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 384,279 shares of company stock valued at $5,759,943 in the last three months. 37.85% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SkyWater Technology

Large investors have recently made changes to their positions in the business. Millennium Management LLC boosted its holdings in shares of SkyWater Technology by 3,396.4% during the third quarter. Millennium Management LLC now owns 775,364 shares of the company’s stock worth $14,468,000 after purchasing an additional 753,188 shares during the period. Emerald Advisers LLC increased its holdings in SkyWater Technology by 36.2% in the second quarter. Emerald Advisers LLC now owns 1,362,983 shares of the company’s stock worth $13,412,000 after buying an additional 362,267 shares during the last quarter. Federated Hermes Inc. raised its position in SkyWater Technology by 13,712.9% during the third quarter. Federated Hermes Inc. now owns 347,119 shares of the company’s stock valued at $6,477,000 after acquiring an additional 344,606 shares in the last quarter. Erste Asset Management GmbH increased its stake in shares of SkyWater Technology by 21.7% during the 3rd quarter. Erste Asset Management GmbH now owns 1,400,000 shares of the company’s stock worth $25,508,000 after purchasing an additional 250,000 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of SkyWater Technology by 15.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,693,056 shares of the company’s stock valued at $16,660,000 after purchasing an additional 229,954 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

SkyWater Technology Company Profile

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.