SkyWater Technology, Inc. (NASDAQ:SKYT) Receives $32.00 Consensus Target Price from Brokerages

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

Several analysts recently commented on the stock. Stifel Nicolaus set a $35.00 price target on shares of SkyWater Technology in a report on Monday, January 26th. Craig Hallum cut shares of SkyWater Technology from a “buy” rating to a “hold” rating and set a $35.00 price target for the company. in a report on Tuesday, January 27th. TD Cowen cut shares of SkyWater Technology from a “buy” rating to a “hold” rating and raised their price target for the stock from $24.00 to $35.00 in a report on Tuesday, January 27th. Piper Sandler cut shares of SkyWater Technology from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $17.00 to $35.00 in a research note on Monday, January 26th. Finally, Zacks Research upgraded shares of SkyWater Technology from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th.

Insider Transactions at SkyWater Technology

In other SkyWater Technology news, CFO Steve Manko sold 75,000 shares of SkyWater Technology stock in a transaction that occurred on 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. The trade was a 43.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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. 37.85% of the stock is owned by insiders.

Institutional Trading of SkyWater Technology

Institutional investors and hedge funds have recently modified their holdings of the company. Federated Hermes Inc. lifted its stake in shares of SkyWater Technology by 13,712.9% in the third quarter. Federated Hermes Inc. now owns 347,119 shares of the company’s stock worth $6,477,000 after buying an additional 344,606 shares during the last quarter. Pier Capital LLC acquired a new stake in shares of SkyWater Technology in the fourth quarter worth $3,365,000. Quantbot Technologies LP lifted its stake in shares of SkyWater Technology by 44,565.1% in the third quarter. Quantbot Technologies LP now owns 94,690 shares of the company’s stock worth $1,767,000 after buying an additional 94,478 shares during the last quarter. Perkins Capital Management Inc. lifted its stake in shares of SkyWater Technology by 86.4% in the third quarter. Perkins Capital Management Inc. now owns 170,050 shares of the company’s stock worth $3,173,000 after buying an additional 78,800 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in shares of SkyWater Technology in the third quarter worth $752,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

SkyWater Technology Stock Performance

SKYT stock opened at $34.72 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.52 and a current ratio of 0.51. The stock has a market cap of $1.71 billion, a P/E ratio of 14.29 and a beta of 3.30. The firm has a 50 day simple moving average of $30.43 and a 200 day simple moving average of $25.78. SkyWater Technology has a 52 week low of $8.18 and a 52 week high of $36.38.

SkyWater Technology (NASDAQ:SKYT) last posted its quarterly earnings results on Wednesday, May 20th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.17). The company had revenue of $160.69 million for the quarter, compared to analyst estimates of $146.07 million. SkyWater Technology had a negative return on equity of 9.03% and a net margin of 21.04%. Research analysts anticipate that SkyWater Technology will post -0.42 earnings per share 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.