Insider Selling: SkyWater Technology (NASDAQ:SKYT) Director Sells 120,370 Shares of Stock

SkyWater Technology, Inc. (NASDAQ:SKYT) Director Loren Unterseher sold 120,370 shares of the company’s stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $18.02, for a total transaction of $2,169,067.40. Following the completion of the transaction, the director owned 6,811,256 shares of the company’s stock, valued at approximately $122,738,833.12. This trade represents a 1.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

SkyWater Technology Price Performance

Shares of NASDAQ:SKYT opened at $20.00 on Friday. The firm has a market cap of $963.60 million, a PE ratio of -58.82 and a beta of 3.51. SkyWater Technology, Inc. has a 52 week low of $5.67 and a 52 week high of $20.85. The firm’s fifty day moving average is $12.29 and its 200-day moving average is $9.77. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.97 and a current ratio of 1.06.

Institutional Investors Weigh In On SkyWater Technology

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Federated Hermes Inc. acquired a new position in shares of SkyWater Technology during the second quarter valued at about $25,000. BNP Paribas Financial Markets raised its stake in SkyWater Technology by 56.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company’s stock worth $27,000 after buying an additional 991 shares during the period. Financial Management Professionals Inc. bought a new position in SkyWater Technology in the second quarter worth approximately $32,000. GAMMA Investing LLC grew its stake in SkyWater Technology by 941.3% in the first quarter. GAMMA Investing LLC now owns 4,613 shares of the company’s stock valued at $33,000 after acquiring an additional 4,170 shares during the period. Finally, CWM LLC increased its holdings in shares of SkyWater Technology by 320.2% during the first quarter. CWM LLC now owns 5,719 shares of the company’s stock valued at $41,000 after acquiring an additional 4,358 shares in the last quarter. 70.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SKYT shares. Wall Street Zen raised SkyWater Technology from a “sell” rating to a “hold” rating in a research note on Friday, September 5th. Needham & Company LLC increased their target price on shares of SkyWater Technology from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $13.00.

About SkyWater Technology

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.