Insider Selling: SkyWater Technology (NASDAQ:SKYT) CEO Sells 8,355 Shares of 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 SkyWater Technology stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $10.58, for a total value of $88,395.90. Following the sale, the chief executive officer directly owned 532,174 shares in the company, valued at $5,630,400.92. The trade was a 1.55% decrease in their position. The sale was disclosed in a filing 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 shares were 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 shares were sold at an average price of $10.04, for a total transaction of $150,178.32.

SkyWater Technology Price Performance

SKYT traded up $0.35 on Thursday, reaching $10.19. The company had a trading volume of 1,501,242 shares, compared to its average volume of 798,497. The company has a market capitalization of $490.91 million, a P/E ratio of -29.97 and a beta of 3.41. The company has a current ratio of 1.06, a quick ratio of 0.97 and a debt-to-equity ratio of 0.68. The company has a fifty day moving average of $10.84 and a 200-day moving average of $9.07. SkyWater Technology, Inc. has a one year low of $5.67 and a one year high of $19.00.

Institutional Investors Weigh In On SkyWater Technology

Large investors have recently made changes to their positions in the company. Federated Hermes Inc. purchased a new position in SkyWater Technology during the 2nd quarter worth approximately $25,000. BNP Paribas Financial Markets raised its position in SkyWater Technology by 56.4% during the second quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company's stock valued at $27,000 after buying an additional 991 shares during the period. Financial Management Professionals Inc. purchased a new stake in SkyWater Technology in the 2nd quarter worth about $32,000. GAMMA Investing LLC boosted its position in SkyWater Technology by 941.3% during the 1st quarter. GAMMA Investing LLC now owns 4,613 shares of the company's stock worth $33,000 after acquiring an additional 4,170 shares during the period. Finally, CWM LLC grew its stake in SkyWater Technology by 320.2% during the 1st quarter. CWM LLC now owns 5,719 shares of the company's stock valued at $41,000 after acquiring an additional 4,358 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company's stock.

Wall Street Analysts Forecast Growth

SKYT has been the topic of a number of research reports. Needham & Company LLC boosted their target price on shares of SkyWater Technology from $11.00 to $15.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Wall Street Zen upgraded shares of SkyWater Technology from a "sell" rating to a "hold" rating in a research report on Friday, September 5th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, SkyWater Technology currently has an average rating of "Buy" and a consensus target price 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.

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