Loren A. Unterseher Sells 7,761 Shares of SkyWater Technology, Inc. (NASDAQ:SKYT) Stock

SkyWater Technology, Inc. (NASDAQ:SKYT) Director Loren A. Unterseher sold 7,761 shares of the stock in a transaction 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 represents a 0.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

SkyWater Technology Stock Performance

Shares of SKYT opened at $12.44 on Friday. The stock has a market capitalization of $592.84 million, a P/E ratio of -35.54 and a beta of 3.72. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 0.87. SkyWater Technology, Inc. has a 1 year low of $5.63 and a 1 year high of $19.00. The company’s fifty day moving average is $9.46 and its two-hundred day moving average is $8.66.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Piper Sandler increased their target price on shares of SkyWater Technology from $9.00 to $12.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $12.00 price objective on shares of SkyWater Technology in a research note on Monday, November 11th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SKYT. Quarry LP acquired a new stake in SkyWater Technology in the third quarter valued at about $35,000. Allworth Financial LP purchased a new position in shares of SkyWater Technology during the 3rd quarter worth approximately $41,000. nVerses Capital LLC acquired a new stake in shares of SkyWater Technology in the 3rd quarter valued at approximately $60,000. The Manufacturers Life Insurance Company purchased a new stake in shares of SkyWater Technology in the second quarter valued at approximately $88,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in SkyWater Technology by 98,866.7% during the second 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 during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

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.