SkyWater Technology Target of Unusually High Options Trading (NASDAQ:SKYT)

SkyWater Technology, Inc. (NASDAQ:SKYT) saw unusually large options trading activity on Wednesday. Traders purchased 1,596 call options on the stock. This represents an increase of approximately 105% compared to the average volume of 777 call options.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $12.00 price target on shares of SkyWater Technology in a report on Monday, November 11th. Piper Sandler lifted their target price on shares of SkyWater Technology from $9.00 to $12.00 and gave the company an “overweight” rating in a research report on Friday, October 25th.

Insider Transactions at SkyWater Technology

In other news, Director Loren A. Unterseher sold 7,761 shares of SkyWater Technology stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $9.27, for a total transaction of $71,944.47. Following the sale, the director now owns 12,806,264 shares of the company’s stock, valued at approximately $118,714,067.28. This trade represents a 0.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 42.55% of the company’s stock.

Institutional Investors Weigh In On SkyWater Technology

Several institutional investors and hedge funds have recently made changes to their positions in SKYT. Lountzis Asset Management LLC bought a new position in SkyWater Technology during the 2nd quarter valued at about $2,212,000. AQR Capital Management LLC raised its stake 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 valued at $917,000 after acquiring an additional 77,571 shares during the last quarter. Inspire Investing LLC acquired a new position in shares of SkyWater Technology in the 3rd quarter worth approximately $418,000. Baillie Gifford & Co. grew its position in SkyWater Technology by 4.4% during the 2nd quarter. Baillie Gifford & Co. now owns 1,007,449 shares of the company’s stock worth $7,707,000 after acquiring an additional 42,649 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in SkyWater Technology by 6.4% during the 3rd quarter. Geode Capital Management LLC now owns 586,933 shares of the company’s stock valued at $5,330,000 after purchasing an additional 35,219 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

SkyWater Technology Price Performance

Shares of SKYT stock opened at $15.76 on Thursday. The stock’s fifty day simple moving average is $9.40 and its 200 day simple moving average is $8.64. SkyWater Technology has a one year low of $5.63 and a one year high of $19.00. The firm has a market cap of $751.06 million, a price-to-earnings ratio of -45.03 and a beta of 3.72. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.87 and a quick ratio of 0.78.

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.