Insider Selling: SkyWater Technology (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 dated 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 transaction, the director 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 can be accessed through the SEC website.

SkyWater Technology Trading Up 7.9%

NASDAQ SKYT traded up $0.87 during trading hours on Friday, hitting $11.84. 913,873 shares of the company's stock were exchanged, compared to its average volume of 1,307,158. The business's 50 day moving average is $10.37 and its 200-day moving average is $8.94. SkyWater Technology, Inc. has a 12-month low of $5.67 and a 12-month high of $19.00. The firm has a market capitalization of $570.45 million, a P/E ratio of -34.82 and a beta of 3.38. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.97 and a current ratio of 1.06.

Hedge Funds Weigh In On SkyWater Technology

A number of large investors have recently modified their holdings of the company. Marex Group plc purchased a new position in shares of SkyWater Technology in the 2nd quarter worth about $206,000. Sugar Maple Asset Management LLC acquired a new stake in shares of SkyWater Technology in the second quarter valued at about $253,000. 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 valued at $27,000 after buying an additional 991 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of SkyWater Technology by 15.7% in the second quarter. Ameriprise Financial Inc. now owns 1,693,056 shares of the company's stock valued at $16,660,000 after buying an additional 229,954 shares in the last quarter. Finally, Quantinno Capital Management LP grew its stake in shares of SkyWater Technology by 145.4% in the second quarter. Quantinno Capital Management LP now owns 36,252 shares of the company's stock valued at $357,000 after buying an additional 21,481 shares in the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Needham & Company LLC increased their target price on SkyWater Technology from $11.00 to $15.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. TD Cowen reduced their target price on SkyWater Technology from $15.00 to $12.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Finally, Wall Street Zen downgraded SkyWater Technology from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average 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.