SkyWater Technology (NASDAQ:SKYT) Director Loren A. Unterseher 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 on Monday, August 18th. The stock was sold at an average price of $11.62, for a total value of $1,138,260.34. Following the completion of the transaction, the director owned 9,491,619 shares in the company, valued at $110,292,612.78. This represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

SkyWater Technology Trading Up 7.9%

SkyWater Technology stock traded up $0.87 during mid-day trading 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 firm has a market capitalization of $570.45 million, a P/E ratio of -34.82 and a beta of 3.38. SkyWater Technology, Inc. has a fifty-two week low of $5.67 and a fifty-two week high of $19.00. The company has a quick ratio of 0.97, a current ratio of 1.06 and a debt-to-equity ratio of 0.68. The company's 50 day simple moving average is $10.37 and its 200-day simple moving average is $8.94.

Hedge Funds Weigh In On SkyWater Technology

Several hedge funds have recently modified their holdings of SKYT. Emerald Advisers LLC grew its holdings in shares of SkyWater Technology by 36.2% in the 2nd quarter. Emerald Advisers LLC now owns 1,362,983 shares of the company's stock valued at $13,412,000 after acquiring an additional 362,267 shares in the last quarter. Nuveen LLC bought a new position in shares of SkyWater Technology in the 1st quarter valued at about $1,919,000. Ameriprise Financial Inc. grew its holdings in shares of SkyWater Technology by 15.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,693,056 shares of the company's stock valued at $16,660,000 after acquiring an additional 229,954 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in shares of SkyWater Technology by 414.5% in the 4th quarter. Nuveen Asset Management LLC now owns 277,962 shares of the company's stock valued at $3,836,000 after acquiring an additional 223,940 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of SkyWater Technology by 112.0% in the 1st quarter. AQR Capital Management LLC now owns 313,993 shares of the company's stock valued at $2,226,000 after acquiring an additional 165,865 shares in the last quarter. Institutional investors own 70.00% of the company's stock.

Analyst Ratings Changes

SKYT has been the topic of several research analyst reports. TD Cowen dropped their price objective on SkyWater Technology from $15.00 to $12.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Wall Street Zen downgraded SkyWater Technology from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, Needham & Company LLC lifted their price target on SkyWater Technology from $11.00 to $15.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $13.00.

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.