Insider Selling: SkyWater Technology (NASDAQ:SKYT) Director Sells 217,329 Shares of Stock

SkyWater Technology, Inc. (NASDAQ:SKYT) Director Loren Unterseher sold 217,329 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $11.80, for a total value of $2,564,482.20. Following the transaction, the director directly owned 9,595,260 shares in the company, valued at $113,224,068. This trade represents a 2.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

SkyWater Technology Stock Performance

Shares of SKYT stock opened at $11.30 on Thursday. The firm has a market capitalization of $544.43 million, a price-to-earnings ratio of -33.23 and a beta of 3.38. The stock has a fifty day moving average of $10.26 and a 200 day moving average of $8.93. SkyWater Technology, Inc. has a 52 week low of $5.67 and a 52 week high of $19.00. The company has a quick ratio of 0.97, a current ratio of 1.06 and a debt-to-equity ratio of 0.68.

Hedge Funds Weigh In On SkyWater Technology

A number of institutional investors and hedge funds have recently made changes to their positions in SKYT. Wells Fargo & Company MN boosted its position in shares of SkyWater Technology by 51.1% in the 4th quarter. Wells Fargo & Company MN now owns 12,826 shares of the company’s stock worth $177,000 after purchasing an additional 4,338 shares in the last quarter. Summit Investment Advisors Inc. raised its stake in SkyWater Technology by 64.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,849 shares of the company’s stock valued at $39,000 after buying an additional 1,113 shares during the last quarter. Barclays PLC raised its stake in SkyWater Technology by 27.7% during the fourth quarter. Barclays PLC now owns 60,260 shares of the company’s stock valued at $832,000 after buying an additional 13,056 shares during the last quarter. XTX Topco Ltd boosted its holdings in SkyWater Technology by 45.1% in the fourth quarter. XTX Topco Ltd now owns 37,228 shares of the company’s stock worth $514,000 after acquiring an additional 11,578 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of SkyWater Technology by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 74,321 shares of the company’s stock worth $1,026,000 after acquiring an additional 3,170 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

SKYT has been the topic of several research analyst reports. Wall Street Zen cut shares of SkyWater Technology from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Needham & Company LLC lifted their price objective on SkyWater Technology from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Finally, TD Cowen decreased their target price on SkyWater Technology from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $13.00.

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.