SkyWater Technology, Inc. (NASDAQ:SKYT) Receives Consensus Recommendation of “Hold” from Brokerages

SkyWater Technology, Inc. (NASDAQ:SKYT) has earned an average rating of “Hold” from the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $32.00.

SKYT has been the subject of several recent research reports. Weiss Ratings restated a “sell (e+)” rating on shares of SkyWater Technology in a research report on Wednesday, June 24th. Zacks Research raised shares of SkyWater Technology from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th.

Insider Buying and Selling

In other SkyWater Technology news, CFO Steve Manko sold 75,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $35.08, for a total value of $2,631,000.00. Following the completion of the transaction, the chief financial officer owned 96,567 shares in the company, valued at approximately $3,387,570.36. This represents a 43.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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.

Hedge Funds Weigh In On SkyWater Technology

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP bought a new position in SkyWater Technology in the 4th quarter worth approximately $25,000. Federated Hermes Inc. bought a new stake in SkyWater Technology during the 2nd quarter valued at $25,000. KBC Group NV bought a new stake in SkyWater Technology during the 1st quarter valued at $27,000. BNP Paribas Financial Markets boosted its position in SkyWater Technology by 56.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company’s stock worth $27,000 after acquiring an additional 991 shares during the period. Finally, State of Wyoming acquired a new position in SkyWater Technology during the 4th quarter worth $35,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

SkyWater Technology Trading Down 0.4%

NASDAQ:SKYT opened at $30.72 on Friday. The firm has a market capitalization of $1.51 billion, a P/E ratio of 13.18 and a beta of 3.34. The business has a 50 day simple moving average of $35.13 and a 200 day simple moving average of $32.00. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.51 and a quick ratio of 0.44. SkyWater Technology has a 12-month low of $8.49 and a 12-month high of $39.93.

SkyWater Technology (NASDAQ:SKYT) last issued its earnings results 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 research analysts predict that SkyWater Technology will post -0.42 EPS for the current year.

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.