SkyWater Technology price target raised to $12 from $9 at Piper Sandler

Piper Sandler raised the firm’s price target on SkyWater Technology (SKYT) to $12 from $9 and keeps an Overweight rating on the shares. The firm views AI compute driving the incremental growth amongst semiconductor end markets while analog and mobile-oriented names lag fundamentally. According to Piper, SkyWater is positioning itself to capitalize on “leading-edge” production in the U.S. with its advanced packaging capabilities coming online at its Florida facility. The firm added that the company is “well positioned” to receive CHIPS funding.