SkyWater Technology (NASDAQ:SKYT) Price Target Increased to $12.00 by Analysts at Piper Sandler

SkyWater Technology (NASDAQ:SKYT) had its target price boosted by Piper Sandler from $9.00 to $12.00 in a report published on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

SkyWater Technology Stock Performance

Shares of SKYT opened at $10.48 on Friday. 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 firm has a 50-day moving average of $9.22 and a 200-day moving average of $8.52. The company has a market cap of $496.23 million, a PE ratio of -15.19 and a beta of 3.95. SkyWater Technology has a one year low of $4.73 and a one year high of $12.97.

SkyWater Technology (NASDAQ:SKYT) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.12. SkyWater Technology had a negative return on equity of 21.68% and a negative net margin of 7.88%. The firm had revenue of $93.33 million for the quarter, compared to analyst estimates of $82.50 million. As a group, equities analysts forecast that SkyWater Technology will post -0.26 earnings per share for the current year.

Insider Buying and Selling at SkyWater Technology

In related news, Director Loren A. Unterseher sold 2,673 shares of SkyWater Technology stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $10.00, for a total transaction of $26,730.00. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 42.55% of the company’s stock.

Institutional Trading of SkyWater Technology

Institutional investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC acquired a new stake in shares of SkyWater Technology during the 1st quarter worth $119,000. Cetera Advisors LLC grew its stake in SkyWater Technology by 9.3% during the first quarter. Cetera Advisors LLC now owns 21,391 shares of the company’s stock worth $218,000 after buying an additional 1,816 shares in the last quarter. Baillie Gifford & Co. increased its holdings in 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 period. Allspring Global Investments Holdings LLC raised its position in shares of SkyWater Technology by 98,866.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 11,876 shares of the company’s stock valued at $91,000 after buying an additional 11,864 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of SkyWater Technology by 36.3% during the 2nd quarter. Rhumbline Advisers now owns 32,764 shares of the company’s stock worth $251,000 after acquiring an additional 8,731 shares during the period. 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.