Insider Selling: SkyWater Technology, Inc. (NASDAQ:SKYT) Director Sells 2,673 Shares of Stock

SkyWater Technology, Inc. (NASDAQ:SKYT) Director Loren A. Unterseher sold 2,673 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $10.00, for a total transaction of $26,730.00. Following the transaction, the director now directly owns 13,019,620 shares of the company’s stock, valued at approximately $130,196,200. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

SkyWater Technology Price Performance

Shares of SKYT opened at $9.28 on Wednesday. SkyWater Technology, Inc. has a twelve month low of $4.73 and a twelve month high of $12.97. The firm’s fifty day simple moving average is $7.92 and its 200-day simple moving average is $8.93. The firm has a market capitalization of $439.41 million, a price-to-earnings ratio of -13.45 and a beta of 3.94. The company has a current ratio of 0.90, a quick ratio of 0.79 and a debt-to-equity ratio of 0.66.

Institutional Investors Weigh In On SkyWater Technology

Several hedge funds and other institutional investors have recently bought and sold shares of SKYT. Tower Research Capital LLC TRC raised its stake in SkyWater Technology by 622.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,712 shares of the company’s stock worth $55,000 after acquiring an additional 4,921 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in SkyWater Technology during the 2nd quarter worth $88,000. Allspring Global Investments Holdings LLC raised its stake in SkyWater Technology by 98,866.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 11,876 shares of the company’s stock worth $91,000 after acquiring an additional 11,864 shares in the last quarter. Arlington Capital Management Inc. acquired a new stake in SkyWater Technology during the 1st quarter worth $107,000. Finally, Algert Global LLC acquired a new stake in SkyWater Technology during the 2nd quarter worth $107,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SKYT shares. Craig Hallum lowered their price objective on shares of SkyWater Technology from $16.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Needham & Company LLC decreased their price target on shares of SkyWater Technology from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Finally, Piper Sandler decreased their price target on shares of SkyWater Technology from $14.00 to $9.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th.

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.