SkyWater Technology (NASDAQ:SKYT – Free Report) had its price target raised by Piper Sandler from $9.00 to $12.00 in a research report sent to investors on Friday, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.
SkyWater Technology Price Performance
Shares of SKYT traded up $0.25 during mid-day trading on Friday, reaching $10.48. 442,785 shares of the company’s stock were exchanged, compared to its average volume of 394,368. The company has a market cap of $497.59 million, a price-to-earnings ratio of -19.41 and a beta of 3.95. The company has a quick ratio of 0.79, a current ratio of 0.90 and a debt-to-equity ratio of 0.66. SkyWater Technology has a 52-week low of $4.73 and a 52-week high of $12.97. The company has a 50-day simple moving average of $9.22 and a two-hundred day simple moving average of $8.55.
SkyWater Technology (NASDAQ:SKYT – Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.12. The company had revenue of $93.33 million for the quarter, compared to analyst estimates of $82.50 million. SkyWater Technology had a negative net margin of 7.88% and a negative return on equity of 21.68%. On average, sell-side analysts predict that SkyWater Technology will post -0.26 EPS for the current fiscal year.
Insider Activity at SkyWater Technology
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the business. Allworth Financial LP acquired a new stake in SkyWater Technology during the third quarter worth about $41,000. nVerses Capital LLC acquired a new position in SkyWater Technology during the 3rd quarter valued at about $60,000. The Manufacturers Life Insurance Company bought a new position in SkyWater Technology in the 2nd quarter worth about $88,000. Allspring Global Investments Holdings LLC lifted its stake in SkyWater Technology by 98,866.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 11,876 shares of the company’s stock valued at $91,000 after purchasing an additional 11,864 shares during the last quarter. Finally, Algert Global LLC acquired a new stake in SkyWater Technology during the second quarter valued at approximately $107,000. 70.00% of the stock is currently owned by institutional investors.
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.
Featured Articles
- Five stocks we like better than SkyWater Technology
- Investing in the High PE Growth Stocks
- Lam Research Proves Analysts Wrong with a Strong Earnings Report
- Why is the Ex-Dividend Date Significant to Investors?
- PureCycle: Up 250% in 2024 – Is This Materials Stock Still a Buy?
- 5 Top Rated Dividend Stocks to Consider
- MarketBeat Week in Review – 10/21- 10/25
Receive News & Ratings for SkyWater Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SkyWater Technology and related companies with MarketBeat.com's FREE daily email newsletter.