SkyWater Technology, Inc. (NASDAQ:SKYT) Receives $32.00 Average PT from Brokerages

SkyWater Technology, Inc. (NASDAQ:SKYT) has been assigned a consensus rating of “Hold” from the eight research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $32.00.

Several research firms have recently issued reports on SKYT. Weiss Ratings reissued a “sell (e+)” rating on shares of SkyWater Technology in a research note on Wednesday, June 24th. Zacks Research upgraded shares of SkyWater Technology from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th.

SkyWater Technology Stock Performance

SKYT opened at $32.46 on Tuesday. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.17. The business’s 50 day moving average is $33.10 and its 200-day moving average is $32.15. The stock has a market cap of $1.60 billion, a PE ratio of 13.93 and a beta of 3.39. SkyWater Technology has a twelve month low of $8.49 and a twelve month high of $39.93.

SkyWater Technology (NASDAQ:SKYT) last issued its quarterly earnings data on Friday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter. The business had revenue of $160.69 million during the quarter. SkyWater Technology had a negative return on equity of 7.88% and a net margin of 21.04%.

Institutional Trading of SkyWater Technology

Hedge funds and other institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System lifted its stake in shares of SkyWater Technology by 3,297.5% in the 2nd quarter. California State Teachers Retirement System now owns 1,564,428 shares of the company’s stock worth $54,473,000 after acquiring an additional 1,518,382 shares during the period. BTG Pactual Asset Management US LLC increased its stake in shares of SkyWater Technology by 100.6% during the second quarter. BTG Pactual Asset Management US LLC now owns 30,083 shares of the company’s stock valued at $1,047,000 after acquiring an additional 15,083 shares during the period. Harvest Management LLC increased its stake in shares of SkyWater Technology by 123.4% during the second quarter. Harvest Management LLC now owns 115,288 shares of the company’s stock valued at $4,014,000 after acquiring an additional 63,688 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in SkyWater Technology by 12.0% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 45,530 shares of the company’s stock worth $1,585,000 after purchasing an additional 4,893 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new stake in SkyWater Technology during the second quarter worth approximately $249,000. 70.00% of the stock is currently owned by institutional investors.

SkyWater Technology Company Profile

SkyWater Technology Solutions, Inc is a U.S.-based specialty semiconductor foundry headquartered in Bloomington, Minnesota. The company focuses on the development and manufacture of high-reliability integrated circuits using advanced processes on 200-millimeter wafers.

SkyWater’s service offerings span analog/mixed-signal, radio frequency (RF), micro-electromechanical systems (MEMS) and advanced packaging technologies. Its turnkey model includes multi-project wafer (MPW) runs, volume production, design enablement support and assembly and test services, enabling customers to take concepts from prototype to market.

Serving aerospace, defense, automotive, industrial, medical and communications sectors, SkyWater supports applications that demand rigorous performance, quality and traceability.