Needham & Company LLC Reiterates “Buy” Rating for SkyWater Technology (NASDAQ:SKYT)

Needham & Company LLC restated their buy rating on shares of SkyWater Technology (NASDAQ:SKYT) in a research report report published on Monday,Benzinga reports. Needham & Company LLC currently has a $12.00 price target on the stock.

Separately, Piper Sandler raised their price target on SkyWater Technology from $9.00 to $12.00 and gave the company an “overweight” rating in a report on Friday, October 25th.

SkyWater Technology Price Performance

Shares of SkyWater Technology stock opened at $8.22 on Monday. SkyWater Technology has a one year low of $5.63 and a one year high of $12.97. The stock’s fifty day moving average is $9.32 and its 200 day moving average is $8.58. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.53.

Insider Buying and Selling at SkyWater Technology

In other news, Director Loren A. Unterseher sold 2,673 shares of SkyWater Technology stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $10.00, for a total value of $26,730.00. Following the sale, the director now directly owns 13,019,620 shares of the company’s stock, valued at approximately $130,196,200. The trade was a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 42.55% of the company’s stock.

Institutional Investors Weigh In On SkyWater Technology

Several large investors have recently made changes to their positions in SKYT. Lountzis Asset Management LLC bought a new stake in shares of SkyWater Technology in the second quarter worth about $2,212,000. AQR Capital Management LLC increased its holdings in shares of SkyWater Technology by 183.6% in the second quarter. AQR Capital Management LLC now owns 119,828 shares of the company’s stock worth $917,000 after purchasing an additional 77,571 shares during the last quarter. Inspire Investing LLC bought a new stake in shares of SkyWater Technology in the third quarter worth about $418,000. Baillie Gifford & Co. increased its holdings in shares of SkyWater Technology by 4.4% in the second quarter. Baillie Gifford & Co. now owns 1,007,449 shares of the company’s stock worth $7,707,000 after purchasing an additional 42,649 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of SkyWater Technology by 20.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 199,318 shares of the company’s stock worth $1,810,000 after purchasing an additional 34,383 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

SkyWater Technology Company Profile

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.