SkyWater Technology (NASDAQ:SKYT) Given New $24.00 Price Target at TD Cowen

SkyWater Technology (NASDAQ:SKYT) had its price target upped by TD Cowen from $22.00 to $24.00 in a research note released on Thursday, MarketBeat reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the company. Wall Street Zen raised SkyWater Technology from a “sell” rating to a “hold” rating in a research note on Friday, September 5th. Needham & Company LLC upped their target price on shares of SkyWater Technology from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of SkyWater Technology in a research note on Wednesday, October 8th. Jefferies Financial Group raised shares of SkyWater Technology to a “hold” rating in a research note on Tuesday, October 28th. Finally, Stifel Nicolaus began coverage on shares of SkyWater Technology in a research note on Tuesday, October 21st. They set a “buy” rating and a $25.00 target price for the company. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.50.

SkyWater Technology Stock Up 27.2%

SKYT stock opened at $18.71 on Thursday. SkyWater Technology has a fifty-two week low of $5.67 and a fifty-two week high of $20.85. The business’s 50 day moving average price is $15.33 and its two-hundred day moving average price is $11.55. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.97 and a current ratio of 1.06. The company has a market capitalization of $901.45 million, a price-to-earnings ratio of 7.25 and a beta of 3.49.

Insider Buying and Selling at SkyWater Technology

In related news, CFO Steve Manko sold 60,829 shares of the firm’s stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $17.40, for a total transaction of $1,058,424.60. Following the completion of the sale, the chief financial officer owned 327,122 shares of the company’s stock, valued at $5,691,922.80. This trade represents a 15.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Loren A. Unterseher sold 120,370 shares of the company’s stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $18.02, for a total value of $2,169,067.40. Following the completion of the transaction, the director directly owned 6,811,256 shares in the company, valued at $122,738,833.12. This trade represents a 1.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 3,364,601 shares of company stock worth $41,174,012. 37.85% of the stock is owned by corporate insiders.

Institutional Trading of SkyWater Technology

A number of institutional investors and hedge funds have recently modified their holdings of SKYT. Emerald Advisers LLC raised its stake in shares of SkyWater Technology by 36.2% in the second quarter. Emerald Advisers LLC now owns 1,362,983 shares of the company’s stock worth $13,412,000 after purchasing an additional 362,267 shares during the last quarter. Federated Hermes Inc. lifted its stake in SkyWater Technology by 13,712.9% during the 3rd quarter. Federated Hermes Inc. now owns 347,119 shares of the company’s stock valued at $6,477,000 after acquiring an additional 344,606 shares during the period. Nuveen LLC bought a new position in SkyWater Technology during the 1st quarter valued at about $1,919,000. Ameriprise Financial Inc. boosted its holdings in shares of SkyWater Technology by 15.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,693,056 shares of the company’s stock valued at $16,660,000 after acquiring an additional 229,954 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS bought a new stake in shares of SkyWater Technology in the third quarter worth approximately $4,004,000. 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.