Insider Selling: SkyWater Technology, Inc. (NASDAQ:SKYT) Director Sells 17,136 Shares of Stock

SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) Director Loren A. Unterseher sold 17,136 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $9.36, for a total value of $160,392.96. Following the completion of the transaction, the director now directly owns 10,547,693 shares of the company's stock, valued at $98,726,406.48. This trade represents a 0.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

SkyWater Technology Price Performance

NASDAQ SKYT traded down $0.63 on Friday, reaching $8.19. 611,890 shares of the stock traded hands, compared to its average volume of 597,990. The firm's fifty day simple moving average is $7.95 and its 200 day simple moving average is $9.33. The company has a quick ratio of 0.78, a current ratio of 0.87 and a debt-to-equity ratio of 0.53. The company has a market cap of $393.41 million, a price-to-earnings ratio of -23.40 and a beta of 3.43. SkyWater Technology, Inc. has a 12 month low of $5.63 and a 12 month high of $19.00.

Hedge Funds Weigh In On SkyWater Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in SkyWater Technology by 941.3% during the 1st quarter. GAMMA Investing LLC now owns 4,613 shares of the company's stock valued at $33,000 after purchasing an additional 4,170 shares in the last quarter. Summit Investment Advisors Inc. lifted its position in shares of SkyWater Technology by 64.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,849 shares of the company's stock valued at $39,000 after acquiring an additional 1,113 shares during the last quarter. CWM LLC lifted its position in shares of SkyWater Technology by 320.2% during the 1st quarter. CWM LLC now owns 5,719 shares of the company's stock valued at $41,000 after acquiring an additional 4,358 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of SkyWater Technology during the 4th quarter valued at $50,000. Finally, BIT Capital GmbH acquired a new stake in shares of SkyWater Technology during the 4th quarter valued at $143,000. 70.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SKYT has been the subject of a number of recent analyst reports. Needham & Company LLC decreased their price objective on SkyWater Technology from $12.00 to $11.00 and set a "buy" rating for the company in a report on Thursday, May 8th. TD Cowen decreased their price target on SkyWater Technology from $15.00 to $12.00 and set a "buy" rating for the company in a research note on Thursday, May 8th.

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.