SkyWater Technology (NASDAQ:SKYT) Sees Large Volume Increase – Still a Buy?

SkyWater Technology, Inc. (NASDAQ:SKYT) saw unusually-strong trading volume on Tuesday . Approximately 373,310 shares traded hands during trading, a decline of 22% from the previous session’s volume of 477,270 shares.The stock last traded at $14.10 and had previously closed at $13.08.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SKYT. Piper Sandler boosted their price target on SkyWater Technology from $9.00 to $12.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Needham & Company LLC reiterated a “buy” rating and issued a $12.00 target price on shares of SkyWater Technology in a report on Monday, November 11th.

SkyWater Technology Trading Up 12.8 %

The stock has a market capitalization of $703.40 million, a P/E ratio of -42.17 and a beta of 3.72. The stock’s 50 day moving average price is $9.81 and its 200-day moving average price is $8.85. The company has a quick ratio of 0.78, a current ratio of 0.87 and a debt-to-equity ratio of 0.53.

Insider Buying and Selling at SkyWater Technology

In other SkyWater Technology news, Director Loren A. Unterseher sold 7,761 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $9.27, for a total transaction of $71,944.47. Following the completion of the sale, the director now directly owns 12,806,264 shares of the company’s stock, valued at approximately $118,714,067.28. This represents a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 42.55% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SKYT. Emerald Advisers LLC grew its holdings in SkyWater Technology by 1.7% in the third quarter. Emerald Advisers LLC now owns 1,113,353 shares of the company’s stock worth $10,109,000 after purchasing an additional 18,423 shares during the last quarter. Geode Capital Management LLC grew its stake in SkyWater Technology by 6.4% during the 3rd quarter. Geode Capital Management LLC now owns 586,933 shares of the company’s stock worth $5,330,000 after buying an additional 35,219 shares during the last quarter. State Street Corp increased its position in SkyWater Technology by 4.7% during the 3rd quarter. State Street Corp now owns 473,475 shares of the company’s stock valued at $4,299,000 after buying an additional 21,134 shares in the last quarter. Lountzis Asset Management LLC purchased a new stake in SkyWater Technology in the second quarter valued at about $2,212,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in SkyWater Technology by 20.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 199,318 shares of the company’s stock worth $1,810,000 after acquiring an additional 34,383 shares in the last quarter. Institutional investors 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.