Insider Selling: SkyWater Technology, Inc. (NASDAQ:SKYT) Director Sells 67,345 Shares of Stock

SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) Director Loren A. Unterseher sold 67,345 shares of the business's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $9.44, for a total transaction of $635,736.80. Following the completion of the sale, the director now owns 10,446,708 shares of the company's stock, valued at $98,616,923.52. The trade was a 0.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

SkyWater Technology Price Performance

Shares of SKYT stock traded down $0.25 during trading hours on Thursday, hitting $8.98. The company had a trading volume of 322,186 shares, compared to its average volume of 673,712. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 0.87. The firm has a market capitalization of $431.35 million, a price-to-earnings ratio of -25.66 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. The firm's fifty day moving average is $7.85 and its 200 day moving average is $9.32.

Wall Street Analyst Weigh In

SKYT has been the topic of several research analyst reports. TD Cowen lowered their price target 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. Needham & Company LLC dropped their price target on SkyWater Technology from $12.00 to $11.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th.

Institutional Investors Weigh In On SkyWater Technology

A number of hedge funds have recently made changes to their positions in the company. Baillie Gifford & Co. boosted its holdings in shares of SkyWater Technology by 65.4% in the 4th quarter. Baillie Gifford & Co. now owns 1,665,284 shares of the company's stock worth $22,981,000 after acquiring an additional 658,431 shares in the last quarter. Nuveen LLC bought a new stake in shares of SkyWater Technology during the first quarter worth $1,919,000. Nuveen Asset Management LLC increased its stake in shares of SkyWater Technology by 414.5% in the fourth quarter. Nuveen Asset Management LLC now owns 277,962 shares of the company's stock valued at $3,836,000 after buying an additional 223,940 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of SkyWater Technology by 112.0% in the first quarter. AQR Capital Management LLC now owns 313,993 shares of the company's stock valued at $2,226,000 after buying an additional 165,865 shares during the last quarter. Finally, Trexquant Investment LP raised its holdings in shares of SkyWater Technology by 169.7% in the fourth quarter. Trexquant Investment LP now owns 236,498 shares of the company's stock valued at $3,264,000 after buying an additional 148,802 shares during the last quarter. Institutional investors and hedge funds 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.