Thomas Sonderman Sells 8,355 Shares of SkyWater Technology (NASDAQ:SKYT) Stock

Key Points

• Thomas Sonderman, CEO of SkyWater Technology, sold 8,355 shares of the company's stock on September 10th for a total of $88,395.90, reducing his ownership by 1.55% to 532,174 shares valued at over $5.6 million.
• The stock price of SkyWater Technology has fluctuated between a one-year low of $5.67 and a high of $19.00, with a P/E ratio currently at -29.97.
• Research reports indicate a positive outlook for SkyWater Technology, with analysts setting a consensus target price of $13.00 and recent upgrades to its stock rating, reflecting growing investor interest.

SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) CEO Thomas Sonderman sold 8,355 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $10.58, for a total value of $88,395.90. Following the completion of the sale, the chief executive officer directly owned 532,174 shares in the company, valued at $5,630,400.92. This represents a 1.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Thomas Sonderman also recently made the following trade(s):

• On Wednesday, August 13th, Thomas Sonderman sold 24,936 shares of SkyWater Technology stock. The stock was sold at an average price of $12.24, for a total value of $305,216.64.
• On Thursday, June 26th, Thomas Sonderman sold 14,958 shares of SkyWater Technology stock. The stock was sold at an average price of $10.04, for a total value of $150,178.32.

SkyWater Technology Stock Performance

NASDAQ SKYT traded up $0.13 during trading hours on Tuesday, hitting $11.51. The company had a trading volume of 1,323,685 shares, compared to its average volume of 1,168,186. 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 business has a fifty day simple moving average of $10.86 and a 200-day simple moving average of $9.11. The firm has a market cap of $554.55 million, a P/E ratio of -33.85 and a beta of 3.41.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SKYT shares. Needham & Company LLC increased their target price on SkyWater Technology from $11.00 to $15.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Wall Street Zen raised SkyWater Technology from a "sell" rating to a "hold" rating in a research report on Friday, September 5th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, SkyWater Technology currently has an average rating of "Buy" and an average target price of $13.00.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. GAMMA Investing LLC increased its holdings in shares of SkyWater Technology by 7,282.8% during the first quarter. GAMMA Investing LLC now owns 32,706 shares of the company's stock valued at $232,000 after purchasing an additional 32,263 shares during the period. Deutsche Bank AG grew its holdings in SkyWater Technology by 605.2% during the fourth quarter. Deutsche Bank AG now owns 83,605 shares of the company's stock worth $1,154,000 after acquiring an additional 71,750 shares during the period. AlphaQuest LLC grew its holdings in SkyWater Technology by 159.9% during the first quarter. AlphaQuest LLC now owns 43,483 shares of the company's stock worth $308,000 after acquiring an additional 26,754 shares during the period. Nuveen LLC acquired a new position in SkyWater Technology during the first quarter worth about $1,919,000. Finally, Cubist Systematic Strategies LLC acquired a new position in SkyWater Technology during the first quarter worth about $464,000. 70.00% of the stock is owned by institutional investors and hedge funds.

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.