Insider Selling: SkyWater Technology, Inc. (NASDAQ:SKYT) Director Sells 366,418 Shares of Stock

SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) Director Loren A. Unterseher sold 366,418 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $9.54, for a total value of $3,495,627.72. Following the completion of the sale, the director now directly owns 10,660,365 shares of the company's stock, valued at $101,699,882.10. This trade represents a 3.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

SkyWater Technology Stock Performance

NASDAQ:SKYT traded up $0.11 during trading on Tuesday, reaching $9.01. The company's stock had a trading volume of 239,770 shares, compared to its average volume of 586,002. SkyWater Technology, Inc. has a 12 month low of $5.63 and a 12 month high of $19.00. The firm has a market cap of $432.80 million, a price-to-earnings ratio of -25.74 and a beta of 3.40. The firm has a 50 day moving average of $7.54 and a 200-day moving average of $9.29. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 0.87.

Analysts Set New Price Targets

Several research firms have recently issued reports on SKYT. Needham & Company LLC reduced their target price on shares of SkyWater Technology from $12.00 to $11.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. TD Cowen reduced their price objective on shares of SkyWater Technology from $15.00 to $12.00 and set a "buy" rating for the company in a research report on Thursday, May 8th.

Hedge Funds Weigh In On SkyWater Technology

Several institutional investors have recently added to or reduced their stakes in SKYT. Baillie Gifford & Co. grew its position in shares of SkyWater Technology by 65.4% during the 4th quarter. Baillie Gifford & Co. now owns 1,665,284 shares of the company's stock valued at $22,981,000 after acquiring an additional 658,431 shares during the period. Vanguard Group Inc. increased its holdings in SkyWater Technology by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 1,448,738 shares of the company's stock worth $19,993,000 after acquiring an additional 40,060 shares during the last quarter. Emerald Advisers LLC increased its holdings in SkyWater Technology by 1.3% in the 1st quarter. Emerald Advisers LLC now owns 1,000,716 shares of the company's stock worth $7,095,000 after acquiring an additional 12,562 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its stake in SkyWater Technology by 0.4% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 602,297 shares of the company's stock valued at $4,270,000 after acquiring an additional 2,555 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in SkyWater Technology by 112.0% during the first quarter. AQR Capital Management LLC now owns 313,993 shares of the company's stock valued at $2,226,000 after purchasing an additional 165,865 shares during the last quarter. Institutional investors own 70.00% of the company's stock.

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.