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

Key Points

• SkyWater Technology director Loren A. Unterseher sold 217,329 shares of stock on August 14th, resulting in a total transaction value of $2,564,482.20, which decreased his ownership by 2.21%.
• The company's stock price recently traded at $11.39, marking a slight decline of 0.2%, with notable trading volume increased to over one million shares.
• Several hedge funds have adjusted their positions in SkyWater Technology, with 70% of the company's stock now owned by institutional investors.

SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) Director Loren A. Unterseher sold 217,329 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $11.80, for a total value of $2,564,482.20. Following the completion of the transaction, the director owned 9,595,260 shares in the company, valued at approximately $113,224,068. This represents a 2.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

SkyWater Technology Trading Down 0.2%

SKYT stock traded down $0.02 during midday trading on Monday, hitting $11.39. The company had a trading volume of 1,076,726 shares, compared to its average volume of 756,159. 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 52 week low of $5.67 and a 52 week high of $19.00. The stock's 50 day moving average price is $10.14 and its 200 day moving average price is $8.89. The stock has a market cap of $548.77 million, a price-to-earnings ratio of -33.50 and a beta of 3.38.

Hedge Funds Weigh In On SkyWater Technology

Hedge funds and other institutional investors have recently made changes to their positions in the business. Federated Hermes Inc. bought a new position in shares of SkyWater Technology during the second quarter valued at approximately $25,000. BNP Paribas Financial Markets grew its stake in shares of SkyWater Technology by 56.4% in the second quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company's stock worth $27,000 after acquiring an additional 991 shares during the last quarter. Financial Management Professionals Inc. purchased a new stake in shares of SkyWater Technology in the second quarter worth $32,000. GAMMA Investing LLC boosted its position in shares of SkyWater Technology by 941.3% during the first quarter. GAMMA Investing LLC now owns 4,613 shares of the company's stock valued at $33,000 after buying an additional 4,170 shares during the last quarter. Finally, Summit Investment Advisors Inc. boosted its position in shares of 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. Institutional investors own 70.00% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Needham & Company LLC raised their price objective on SkyWater Technology from $11.00 to $15.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. TD Cowen lowered their price objective on SkyWater Technology from $15.00 to $12.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Finally, Wall Street Zen lowered SkyWater Technology from a "hold" rating to a "sell" rating in a report on Saturday, August 9th.

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.

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