Needham & Company LLC Reiterates “Buy” Rating for SkyWater Technology (NASDAQ:SKYT)

SkyWater Technology (NASDAQ:SKYT)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a research note issued to investors on Monday,Benzinga reports. They currently have a $12.00 target price on the stock. Needham & Company LLC’s price target would indicate a potential upside of 44.58% from the company’s current price.

Separately, Piper Sandler lifted their price objective on SkyWater Technology from $9.00 to $12.00 and gave the company an “overweight” rating in a report on Friday, October 25th.

SkyWater Technology Price Performance

Shares of NASDAQ SKYT opened at $8.30 on Monday. The stock has a market capitalization of $394.08 million, a PE ratio of -23.71 and a beta of 3.92. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.90 and a quick ratio of 0.79. The business has a fifty day moving average price of $9.32 and a two-hundred day moving average price of $8.59. SkyWater Technology has a fifty-two week low of $5.40 and a fifty-two week high of $12.97.

Insider Transactions at SkyWater Technology

In other news, Director Loren A. Unterseher sold 2,673 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $10.00, for a total transaction of $26,730.00. Following the completion of the transaction, the director now owns 13,019,620 shares of the company’s stock, valued at approximately $130,196,200. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 42.55% of the stock is owned by insiders.

Hedge Funds Weigh In On SkyWater Technology

Institutional investors and hedge funds have recently bought and sold shares of the company. Lountzis Asset Management LLC bought a new stake in shares of SkyWater Technology in the 2nd quarter valued at about $2,212,000. AQR Capital Management LLC grew its position in shares of SkyWater Technology by 183.6% in the 2nd quarter. AQR Capital Management LLC now owns 119,828 shares of the company’s stock valued at $917,000 after buying an additional 77,571 shares during the last quarter. Inspire Investing LLC bought a new stake in shares of SkyWater Technology in the 3rd quarter valued at about $418,000. Baillie Gifford & Co. grew its position in shares of SkyWater Technology by 4.4% in the 2nd quarter. Baillie Gifford & Co. now owns 1,007,449 shares of the company’s stock valued at $7,707,000 after buying an additional 42,649 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of SkyWater Technology by 20.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 199,318 shares of the company’s stock valued at $1,810,000 after buying an additional 34,383 shares during the last quarter. Institutional investors and hedge funds 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.