Insider Selling: SkyWater Technology, Inc. (NASDAQ:SKYT) Director Sells 33,640 Shares of Stock

SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) Director Loren A. Unterseher sold 33,640 shares of SkyWater Technology stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $9.36, for a total transaction of $314,870.40. Following the transaction, the director now directly owns 10,514,053 shares in the company, valued at approximately $98,411,536.08. This trade represents a 0.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

SkyWater Technology Stock Down 7.1%

Shares of NASDAQ SKYT traded down $0.63 during trading on Friday, reaching $8.19. 611,890 shares of the stock were exchanged, compared to its average volume of 596,787. The business's 50-day moving average price is $7.90 and its 200 day moving average price is $9.32. SkyWater Technology, Inc. has a twelve month low of $5.63 and a twelve month high of $19.00. 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 capitalization of $393.41 million, a price-to-earnings ratio of -23.40 and a beta of 3.43.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted 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 worth $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 fourth quarter. Summit Investment Advisors Inc. now owns 2,849 shares of the company's stock worth $39,000 after purchasing an additional 1,113 shares in the last quarter. CWM LLC lifted its position in shares of SkyWater Technology by 320.2% during the first quarter. CWM LLC now owns 5,719 shares of the company's stock worth $41,000 after purchasing an additional 4,358 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in shares of SkyWater Technology during the fourth quarter worth $50,000. Finally, BIT Capital GmbH acquired a new position in shares of SkyWater Technology during the fourth quarter worth $143,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SKYT. Needham & Company LLC reduced their price target on shares of SkyWater Technology from $12.00 to $11.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. TD Cowen reduced their price target on shares of SkyWater Technology from $15.00 to $12.00 and set a "buy" rating on the stock in a research report 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.