SkyWater Technology (NASDAQ:SKYT) Shares Down 8.5% – Here’s What Happened

by · The Cerbat Gem

SkyWater Technology, Inc. (NASDAQ:SKYT – Get Free Report) was down 8.5% during mid-day trading on Friday . The stock traded as low as $18.73 and last traded at $18.5040. Approximately 241,267 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 1,150,386 shares. The stock had previously closed at $20.22.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Stifel Nicolaus started coverage on shares of SkyWater Technology in a research report on Tuesday, October 21st. They set a “buy” rating and a $25.00 price target for the company. Needham & Company LLC upped their target price on shares of SkyWater Technology from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Jefferies Financial Group upgraded SkyWater Technology to a “hold” rating in a research report on Tuesday, October 28th. Wall Street Zen upgraded SkyWater Technology from a “sell” rating to a “hold” rating in a report on Friday, September 5th. Finally, Cowen restated a “buy” rating on shares of SkyWater Technology in a report on Thursday, November 6th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, SkyWater Technology currently has a consensus rating of “Moderate Buy” and an average price target of $21.50.

View Our Latest Analysis on SKYT

SkyWater Technology Price Performance

The company has a debt-to-equity ratio of 0.17, a current ratio of 0.67 and a quick ratio of 0.61. The company’s 50-day moving average price is $17.26 and its 200-day moving average price is $13.21. The company has a market cap of $879.00 million, a P/E ratio of 7.00 and a beta of 3.50.

SkyWater Technology (NASDAQ:SKYT – Get Free Report) last announced its earnings results on Wednesday, November 5th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.41. The firm had revenue of $150.74 million during the quarter, compared to analyst estimates of $135.50 million. SkyWater Technology had a net margin of 36.36% and a negative return on equity of 4.96%. SkyWater Technology has set its Q4 2025 guidance at -0.080-0.040 EPS. As a group, sell-side analysts predict that SkyWater Technology, Inc. will post -0.22 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Loren A. Unterseher sold 100,000 shares of SkyWater Technology stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $14.54, for a total value of $1,454,000.00. Following the sale, the director owned 4,487,394 shares of the company’s stock, valued at approximately $65,246,708.76. The trade was a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas Sonderman sold 5,210 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $13.38, for a total value of $69,709.80. Following the sale, the chief executive officer owned 521,757 shares in the company, valued at approximately $6,981,108.66. This represents a 0.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 728,861 shares of company stock worth $11,215,820 over the last ninety days. Insiders own 37.85% of the company’s stock.

Institutional Investors Weigh In On SkyWater Technology

Several hedge funds have recently bought and sold shares of the company. Federated Hermes Inc. bought a new stake in SkyWater Technology in the second quarter valued at approximately $25,000. BNP Paribas Financial Markets increased its holdings in shares of SkyWater Technology by 56.4% in the second quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company’s stock valued at $27,000 after purchasing an additional 991 shares during the last quarter. Financial Management Professionals Inc. acquired a new stake in shares of SkyWater Technology during the 2nd quarter worth about $32,000. Russell Investments Group Ltd. boosted its holdings in shares of SkyWater Technology by 814.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,468 shares of the company’s stock worth $46,000 after buying an additional 2,198 shares during the period. Finally, CWM LLC grew its stake in SkyWater Technology by 291.3% in the 3rd quarter. CWM LLC now owns 3,138 shares of the company’s stock valued at $59,000 after buying an additional 2,336 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

SkyWater Technology Company Profile

(Get Free Report)

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.

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