Insider Selling: SkyWater Technology, Inc. (NASDAQ:SKYT) Director Sells 97,957 Shares

Key Points

• SkyWater Technology's Director, Loren A. Unterseher, sold 97,957 shares at an average price of $11.62, totaling approximately $1.14 million.
• As a result of the sale, the director now owns about 9.49 million shares, valued at roughly $110.29 million, reflecting a 1.02% decrease in his position.
• Several hedge funds have recently made significant adjustments to their stakes in SkyWater Technology, indicating increased institutional interest, with total institutional ownership at 70%.

SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) Director Loren A. Unterseher sold 97,957 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $11.62, for a total transaction of $1,138,260.34. Following the sale, the director owned 9,491,619 shares of the company's stock, valued at approximately $110,292,612.78. This represents a 1.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

SkyWater Technology Price Performance

Shares of NASDAQ SKYT traded down $0.02 during midday trading on Monday, reaching $11.39. The company's stock had a trading volume of 1,076,726 shares, compared to its average volume of 756,159. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.97 and a current ratio of 1.06. The company has a market cap of $548.77 million, a P/E ratio of -33.50 and a beta of 3.38. The business's 50 day moving average price is $10.14 and its two-hundred day moving average price is $8.89. SkyWater Technology, Inc. has a fifty-two week low of $5.67 and a fifty-two week high of $19.00.

Hedge Funds Weigh In On SkyWater Technology

A number of hedge funds have recently added to or reduced their stakes in the stock. Sugar Maple Asset Management LLC bought a new stake in SkyWater Technology during the second quarter worth about $253,000. BNP Paribas Financial Markets boosted its position in shares of SkyWater Technology by 56.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company's stock worth $27,000 after acquiring an additional 991 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of SkyWater Technology by 15.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,693,056 shares of the company's stock worth $16,660,000 after acquiring an additional 229,954 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of SkyWater Technology by 145.4% during the 2nd quarter. Quantinno Capital Management LP now owns 36,252 shares of the company's stock worth $357,000 after acquiring an additional 21,481 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its holdings in shares of SkyWater Technology by 405.4% in the 2nd quarter. Squarepoint Ops LLC now owns 87,290 shares of the company's stock valued at $859,000 after purchasing an additional 70,019 shares in the last quarter. Institutional investors own 70.00% of the company's stock.

Wall Street Analysts Forecast Growth

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

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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