AlphaQuest LLC Raises Stake in SkyWater Technology, Inc. $SKYT

Key Points

• AlphaQuest LLC increased its stake in SkyWater Technology, Inc. by 159.9% in Q1, owning approximately 0.09% of the company worth $308,000 after acquiring an additional 26,754 shares.
• Director Loren A. Unterseher sold 311,959 shares for over $3.8 million, reducing their ownership by 3.91%, while CEO Thomas Sonderman also sold a portion of their shares, signaling ongoing insider trading activity.
• SkyWater Technology received varying ratings from analysts, with TD Cowen lowering their price target from $15.00 to $12.00 but maintaining a "buy" rating, while the consensus rating is "buy" with a price target of $13.00.

AlphaQuest LLC increased its position in shares of SkyWater Technology, Inc. (NASDAQ:SKYT - Free Report) by 159.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,483 shares of the company's stock after purchasing an additional 26,754 shares during the period. AlphaQuest LLC owned 0.09% of SkyWater Technology worth $308,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Nuveen LLC bought a new stake in SkyWater Technology in the 1st quarter valued at $1,919,000. Deutsche Bank AG increased its holdings in shares of SkyWater Technology by 1.6% in the 1st quarter. Deutsche Bank AG now owns 84,977 shares of the company's stock worth $602,000 after buying an additional 1,372 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of SkyWater Technology by 9.3% in the 1st quarter. Victory Capital Management Inc. now owns 54,000 shares of the company's stock worth $383,000 after buying an additional 4,600 shares during the last quarter. SBI Securities Co. Ltd. increased its holdings in shares of SkyWater Technology by 33.7% in the 1st quarter. SBI Securities Co. Ltd. now owns 55,381 shares of the company's stock worth $393,000 after buying an additional 13,955 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of SkyWater Technology by 320.2% in the 1st quarter. CWM LLC now owns 5,719 shares of the company's stock worth $41,000 after buying an additional 4,358 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other SkyWater Technology news, Director Loren A. Unterseher sold 311,959 shares of the stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $12.28, for a total transaction of $3,830,856.52. Following the transaction, the director directly owned 7,661,012 shares of the company's stock, valued at $94,077,227.36. This trade represents a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Thomas Sonderman sold 24,936 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $12.24, for a total transaction of $305,216.64. Following the completion of the sale, the chief executive officer owned 540,529 shares of the company's stock, valued at $6,616,074.96. This trade represents a 4.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,703,165 shares of company stock worth $32,282,140 over the last three months. 37.85% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. TD Cowen dropped 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 note on Thursday, May 8th. Needham & Company LLC lifted their price target on shares of SkyWater Technology from $11.00 to $15.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Finally, Wall Street Zen cut shares of SkyWater Technology from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, SkyWater Technology presently has a consensus rating of "Buy" and a consensus price target of $13.00.

SkyWater Technology Stock Performance

Shares of SKYT stock traded down $1.02 during trading hours on Tuesday, hitting $10.97. The company's stock had a trading volume of 549,306 shares, compared to its average volume of 779,815. The company has a 50 day moving average of $10.76 and a 200 day moving average of $9.03. The stock has a market cap of $528.49 million, a PE ratio of -32.32 and a beta of 3.41. The company has a current ratio of 1.06, a quick ratio of 0.97 and a debt-to-equity ratio of 0.68. SkyWater Technology, Inc. has a 12-month low of $5.67 and a 12-month high of $19.00.

SkyWater Technology 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.