SkyWater Technology (NASDAQ:SKYT) Sees Large Volume Increase – Time to Buy?

Shares of SkyWater Technology, Inc. (NASDAQ:SKYT) saw unusually-strong trading volume on Tuesday . Approximately 379,993 shares traded hands during trading, a decline of 6% from the previous session’s volume of 405,189 shares.The stock last traded at $11.57 and had previously closed at $10.16.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SKYT shares. Piper Sandler lifted their price objective on SkyWater Technology from $9.00 to $12.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $12.00 price target on shares of SkyWater Technology in a report on Monday, November 11th.

SkyWater Technology Trading Up 20.5 %

The company has a current ratio of 0.87, a quick ratio of 0.78 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $751.06 million, a PE ratio of -45.03 and a beta of 3.72. The stock has a 50 day moving average price of $9.40 and a 200-day moving average price of $8.64.

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 that occurred on Friday, December 13th. The shares were sold at an average price of $9.27, for a total value of $71,944.47. Following the transaction, the director now directly owns 12,806,264 shares in the company, valued at approximately $118,714,067.28. This trade represents a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 42.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SkyWater Technology

A number of institutional investors have recently bought and sold shares of the stock. Quarry LP purchased a new stake in SkyWater Technology in the 3rd quarter worth approximately $35,000. Allworth Financial LP purchased a new stake in shares of SkyWater Technology in the third quarter worth $41,000. nVerses Capital LLC bought a new stake in shares of SkyWater Technology during the 3rd quarter valued at $60,000. The Manufacturers Life Insurance Company purchased a new position in shares of SkyWater Technology during the 2nd quarter valued at $88,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in 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 worth $91,000 after buying an additional 11,864 shares during the period. 70.00% of the stock is owned by institutional investors.

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.