SkyWater Technology, Inc. (NASDAQ:SKYT) Given Average Recommendation of “Hold” by Analysts

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

Several brokerages have commented on SKYT. Weiss Ratings restated a “sell (e+)” rating on shares of SkyWater Technology in a report on Friday, March 27th. Zacks Research upgraded 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 firm’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 sale, the chief financial officer directly owned 96,567 shares in the company, valued at $3,387,570.36. This trade represents a 43.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 250,324 shares of company stock valued at $7,728,453 in the last ninety days. Company insiders own 22.56% of the company’s stock.

Hedge Funds Weigh In On SkyWater Technology

Large investors have recently made changes to their positions in the business. KBC Group NV purchased a new position in shares of SkyWater Technology during the first quarter valued at approximately $27,000. Quarry LP purchased a new position in shares of SkyWater Technology during the fourth quarter valued at approximately $25,000. State of Wyoming purchased a new position in shares of SkyWater Technology during the fourth quarter valued at approximately $35,000. Russell Investments Group Ltd. lifted its holdings in shares of SkyWater Technology by 814.1% during the third quarter. Russell Investments Group Ltd. now owns 2,468 shares of the company’s stock valued at $46,000 after purchasing an additional 2,198 shares during the last quarter. Finally, Federated Hermes Inc. purchased a new position in shares of SkyWater Technology during the second quarter valued at approximately $25,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

SkyWater Technology Stock Performance

Shares of SKYT opened at $34.85 on Thursday. 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 one year low of $8.18 and a one year high of $39.93. The company has a 50-day simple moving average of $33.62 and a two-hundred day simple moving average of $28.33. The firm has a market capitalization of $1.71 billion, a PE ratio of 14.96 and a beta of 3.32.

SkyWater Technology (NASDAQ:SKYT) last issued its quarterly earnings data on Wednesday, May 20th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.17). SkyWater Technology had a negative return on equity of 7.88% and a net margin of 21.04%.The company had revenue of $160.69 million during the quarter, compared to analysts’ expectations of $146.07 million. On average, analysts anticipate that SkyWater Technology will post -0.42 EPS for the current fiscal year.

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.