SkyWater Technology (NASDAQ:SKYT) Sees Large Volume Increase – Should You Buy?

SkyWater Technology, Inc. (NASDAQ:SKYT) shares saw an uptick in trading volume on Tuesday . 373,310 shares were traded 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 Analysts Forecast Growth

Several research analysts have issued reports on the stock. Needham & Company LLC reissued a “buy” rating and set a $12.00 price objective on shares of SkyWater Technology in a research report on Monday, November 11th. Piper Sandler upped their price objective on SkyWater Technology from $9.00 to $12.00 and gave the company an “overweight” rating in a research note on Friday, October 25th.

SkyWater Technology Stock Performance

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 company has a market cap of $711.03 million, a price-to-earnings ratio of -42.63 and a beta of 3.72. The stock has a 50 day simple moving average of $9.61 and a 200 day simple moving average of $8.76.

Insider Activity at SkyWater Technology

In related 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 value of $71,944.47. Following the completion of the transaction, the director now directly owns 12,806,264 shares of the company’s stock, valued at $118,714,067.28. This represents a 0.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 42.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SkyWater Technology

Large investors have recently made changes to their positions in the business. Lountzis Asset Management LLC acquired a new stake in shares of SkyWater Technology during the second quarter worth $2,212,000. AQR Capital Management LLC grew its position in SkyWater Technology by 183.6% during the 2nd quarter. AQR Capital Management LLC now owns 119,828 shares of the company’s stock worth $917,000 after purchasing an additional 77,571 shares in the last quarter. Inspire Investing LLC acquired a new stake in SkyWater Technology during the 3rd quarter valued at $418,000. Geode Capital Management LLC lifted its holdings in shares of SkyWater Technology by 6.4% in the third quarter. Geode Capital Management LLC now owns 586,933 shares of the company’s stock valued at $5,330,000 after purchasing an additional 35,219 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of SkyWater Technology by 20.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 199,318 shares of the company’s stock valued at $1,810,000 after buying an additional 34,383 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

SkyWater Technology Company Profile

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.