SkyWater Technology (NASDAQ:SKYT) Sees Large Volume Increase on Analyst Upgrade

SkyWater Technology, Inc. (NASDAQ:SKYTGet Rating) saw an uptick in trading volume on Monday after Craig Hallum raised their price target on the stock from $10.00 to $18.00. 16,636 shares changed hands during mid-day trading, a decline of 93% from the previous session’s volume of 240,838 shares.The stock last traded at $13.59 and had previously closed at $14.86.

Other analysts have also recently issued research reports about the company. Cowen increased their target price on SkyWater Technology from $12.00 to $20.00 and gave the company an “outperform” rating in a research report on Tuesday. Cowen raised their price objective on SkyWater Technology from $12.00 to $20.00 and gave the company an “outperform” rating in a research report on Tuesday. Needham & Company LLC lifted their target price on SkyWater Technology from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Piper Sandler increased their price target on shares of SkyWater Technology from $10.00 to $18.00 and gave the company an “overweight” rating in a research report on Monday. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $19.20.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Northern Trust Corp grew its stake in shares of SkyWater Technology by 5.2% during the fourth quarter. Northern Trust Corp now owns 76,703 shares of the company’s stock worth $1,245,000 after acquiring an additional 3,763 shares during the last quarter. Stegent Equity Advisors Inc. purchased a new stake in SkyWater Technology during the 4th quarter worth approximately $457,000. Swiss National Bank acquired a new position in SkyWater Technology during the 4th quarter valued at approximately $349,000. Needham Investment Management LLC raised its holdings in shares of SkyWater Technology by 22.8% in the fourth quarter. Needham Investment Management LLC now owns 50,350 shares of the company’s stock worth $817,000 after buying an additional 9,350 shares during the last quarter. Finally, Fortem Financial Group LLC lifted its stake in shares of SkyWater Technology by 300.0% during the first quarter. Fortem Financial Group LLC now owns 40,000 shares of the company’s stock worth $433,000 after buying an additional 30,000 shares during the period. 17.24% of the stock is owned by institutional investors and hedge funds.

SkyWater Technology Stock Performance

The company has a current ratio of 1.35, a quick ratio of 1.11 and a debt-to-equity ratio of 1.43. The business’s fifty day moving average price is $10.21 and its two-hundred day moving average price is $9.11.

About SkyWater Technology

(Get Rating)

SkyWater Technology, Inc, together with its subsidiaries, provides semiconductor development and manufacturing services. 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, power discrete, microelectromechanical systems, and rad-hard integrated circuits.

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