SkyWater Technology (NASDAQ:SKYT) Trading Up 7.3% - Should You Buy?

SkyWater Technology, Inc. (NASDAQ:SKYT) experienced a notable increase of 7.3% during trading on a recent Friday. The stock peaked at $14.45 and maintained this value at the last trade. During this trading session, 229,711 shares changed hands, which is a significant drop of 54% from the average trading volume of 503,435 shares, with the stock having previously closed at $13.47.

Wall Street Analyst Insights

Recently, various equity analysts have shared their perspectives on SKYT stock. Needham & Company LLC reaffirmed a "buy" rating with a price target of $12.00 for SkyWater Technology. This rating was noted in a research communication dated November 11. Meanwhile, Piper Sandler adjusted their price target, increasing it from $9.00 to $12.00 and assigning an "overweight" rating in their report from October 25.

SkyWater Technology Stock Performance Overview

The company maintains a debt-to-equity ratio of 0.53 and shows a quick ratio of 0.78, alongside a current ratio of 0.87. SkyWater holds a market capitalization of approximately $688.63 million, with a price-to-earnings ratio standing at -41.29 and a beta value of 3.72. Its 50-day moving average price is $10.35, while the 200-day moving average is $9.11.

Insider Trading Activity

In other news related to SkyWater Technology, Director Loren A. Unterseher executed a sale of 7,761 shares on December 13 at an average price of $9.27. This transaction amounted to approximately $71,944.47. After this sale, Unterseher holds a total of 12,806,264 shares valued at around $118,714,067.28, reflecting a 0.06% decrease in their holdings. The transaction details are accessible through a legal filing with the SEC. It is also noted that corporate insiders own about 42.55% of the firm's stock.

Hedge Funds and Institutional Investors Involvement

Several hedge funds and institutional investors have recently adjusted their positions in SkyWater Technology. Quarry LP has acquired a new stake valued near $35,000 in the third quarter. Victory Capital Management Inc. has increased its holdings by 4.2%, now owning 95,150 shares worth $728,000 after adding 3,850 shares in the previous quarter. Allworth Financial LP has also made a new investment estimated at around $41,000 during the third quarter. XTX Topco Ltd increased its holdings by 19.5%, and now possesses 30,836 shares valued at $236,000 after acquiring additional shares. Lastly, nVerses Capital LLC also bought a new stake worth $60,000 in the third quarter. Around 70.00% of the shares are owned by institutional investors.

About SkyWater Technology

SkyWater Technology, Inc., along with its subsidiaries, operates exclusively as a technology foundry in the U.S., focusing on semiconductor development, manufacturing, and packaging services. It provides engineering and process development support to collaborate with customers, in addition to manufacturing services for various silicon-based products.

Conclusion

Investing in stocks always comes with risks and requires careful evaluation of various factors. Despite the current "Buy" rating from analysts, other top-rated analysts have identified five stocks they believe to be more attractive options right now. It is essential to conduct thorough research before making any investment decisions.

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