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Needham & Company LLC raises SkyWater Technology (NASDAQ:SKYT) price target to $15.00

SkyWater Technology (NASDAQ:SKYT – Get a review) had its price target raised by Needham & Company LLC stock research analysts to $15.00 in a research report released on Friday, Stock Target Advisor reports. Needham & Company LLC’s target price suggests a potential upside of 17.19% from the stock’s previous close.

Several other stock analysts have also published reports on SKYT. Piper Sandler lowered its target price on SkyWater Technology from $15.00 to $10.00 in a Wednesday May 4 research note. Craig Hallum began coverage of SkyWater Technology in a research note on Tuesday, April 26. They set a “buy” rating and a target price of $10.00 on the stock.

SkyWater Technology Stock Performance

Shares of SkyWater Technology opened at $12.80 on Friday. SkyWater Technology has a 52 week low of $4.43 and a 52 week high of $36.80. The company’s fifty-day simple moving average is $7.10 and its 200-day simple moving average is $8.72. The company has a market capitalization of $515.97 million, a PE ratio of -7.66 and a beta of 3.45. The company has a quick ratio of 1.11, a current ratio of 1.35 and a debt ratio of 1.43.

SkyWater Technology (NASDAQ:SKYT – Get Rating) last reported quarterly results on Tuesday, May 3. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.02). SkyWater Technology had a negative net margin of 39.60% and a negative return on equity of 78.19%. The company posted revenue of $48.12 million in the quarter, compared to analyst estimates of $41.75 million. Stock analysts expect SkyWater Technology to post -1.33 earnings per share for the current year.

Insider Buying and Selling at SkyWater Technology

In other SkyWater Technology news, CEO Thomas Sonderman sold 9,192 shares in a trade dated Monday, May 9. The stock was sold at an average price of $5.74, for a total value of $52,762.08. Following the sale, the CEO now owns 538,536 shares of the company, valued at approximately $3,091,196.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Insiders sold 11,660 shares of the company valued at $68,315 during the last quarter. Company insiders hold 72.80% of the company’s stock.

Institutional investors weigh in on SkyWater technology

A number of hedge funds have been buying and selling shares of SKYT recently. Exane Derivatives acquired a new stake in SkyWater Technology in the 4th quarter valued at approximately $47,000. Allspring Global Investments Holdings LLC bought a new stock position in SkyWater Technology in Q4, valued at approximately $6,968,000. Emerald Advisers LLC increased its equity stake in SkyWater Technology by 44.5% in Q4. Emerald Advisers LLC now owns 867,511 shares of the company valued at $14,071,000 after acquiring an additional 267,214 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its holdings of SkyWater Technology shares by 46.7% in Q4. Emerald Mutual Fund Advisers Trust now owns 890,876 shares of the company valued at $14,450,000 after acquiring 283,753 additional shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of SkyWater Technology by 5.2% in the 4th quarter. Northern Trust Corp now owns 76,703 shares of the company valued at $1,245,000 after acquiring 3,763 additional shares in the last quarter. Institutional investors and hedge funds own 17.24% of the company’s shares.

SkyWater Technology Company Profile

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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 analog and mixed-signal, power discrete, microelectromechanical, and ultra-hard silicon-based integrated circuit systems.

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