SkyWater Technology (NASDAQ:SKYT) Shares Gap Up – Should You Buy?

Shares of SkyWater Technology, Inc. (NASDAQ:SKYT) gapped up before the market opened on Tuesday . The stock had previously closed at $11.55, but opened at $12.09. SkyWater Technology shares last traded at $11.58, with a volume of 129,913 shares traded.

Analysts Set New Price Targets

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

SkyWater Technology Trading Up 1.7 %

The company has a 50 day moving average of $10.97 and a 200 day moving average of $9.55. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 0.87. The firm has a market cap of $559.62 million, a P/E ratio of -33.47 and a beta of 3.43.

Insiders Place Their Bets

In other SkyWater Technology news, Director Loren A. Unterseher sold 7,761 shares of the business’s stock in a transaction 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 transaction, the director now owns 12,806,264 shares of the company’s stock, valued at approximately $118,714,067.28. The trade was a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 42.55% of the company’s stock.

Institutional Trading of SkyWater Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its stake in shares of SkyWater Technology by 36.3% in the 2nd quarter. Rhumbline Advisers now owns 32,764 shares of the company’s stock valued at $251,000 after acquiring an additional 8,731 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in SkyWater Technology in the second quarter worth $195,000. XTX Topco Ltd boosted its position in shares of SkyWater Technology by 19.5% during the second quarter. XTX Topco Ltd now owns 30,836 shares of the company’s stock worth $236,000 after purchasing an additional 5,038 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of SkyWater Technology in the 2nd quarter valued at $161,000. Finally, AQR Capital Management LLC raised its stake 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 buying an additional 77,571 shares during the period. 70.00% of the stock is 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.