SkyWater Technology Sees Unusually Large Options Volume (NASDAQ:SKYT)

SkyWater Technology, Inc. (NASDAQ:SKYT) was the target of unusually large options trading on Wednesday. Investors acquired 1,596 call options on the stock. This is an increase of 105% compared to the typical volume of 777 call options.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SKYT shares. Needham & Company LLC reaffirmed a “buy” rating and set a $12.00 target price on shares of SkyWater Technology in a research note on Monday, November 11th. Piper Sandler upped their target price 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 Trading Up 31.0 %

Shares of SkyWater Technology stock traded up $4.06 during mid-day trading on Wednesday, hitting $17.14. The stock had a trading volume of 2,009,578 shares, compared to its average volume of 426,612. The firm has a 50-day moving average of $9.27 and a two-hundred day moving average of $8.59. The company has a quick ratio of 0.78, a current ratio of 0.87 and a debt-to-equity ratio of 0.53. The firm has a market cap of $816.82 million, a P/E ratio of -47.43 and a beta of 3.72. SkyWater Technology has a 12-month low of $5.63 and a 12-month high of $17.40.

Insider Transactions 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 stock was sold at an average price of $9.27, for a total transaction of $71,944.47. Following the completion of the transaction, the director now owns 12,806,264 shares of the company’s stock, valued at $118,714,067.28. This represents a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 42.55% of the company’s stock.

Hedge Funds Weigh In On SkyWater Technology

Large investors have recently modified their holdings of the business. Emerald Advisers LLC increased its position in shares of SkyWater Technology by 1.7% during the third quarter. Emerald Advisers LLC now owns 1,113,353 shares of the company’s stock valued at $10,109,000 after acquiring an additional 18,423 shares during the last quarter. Baillie Gifford & Co. raised its position in SkyWater Technology by 4.4% in the second quarter. Baillie Gifford & Co. now owns 1,007,449 shares of the company’s stock valued at $7,707,000 after purchasing an additional 42,649 shares during the period. Geode Capital Management LLC lifted its stake in SkyWater Technology by 6.4% during the third quarter. Geode Capital Management LLC now owns 586,933 shares of the company’s stock worth $5,330,000 after purchasing an additional 35,219 shares in the last quarter. State Street Corp boosted its position in shares of SkyWater Technology by 4.7% during the third quarter. State Street Corp now owns 473,475 shares of the company’s stock worth $4,299,000 after buying an additional 21,134 shares during the period. Finally, Lountzis Asset Management LLC purchased a new position in shares of SkyWater Technology during the second quarter worth $2,212,000. 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.