Insider Selling: SkyWater Technology (NASDAQ:SKYT) CFO Sells 43,383 Shares of Stock

Key Points

• SkyWater Technology CFO Steve Manko sold 43,383 shares at an average price of $15.13, totaling approximately $656,384.79, which reduced his ownership position by 10.54%.
• Institutional investors have increased their stakes in SkyWater Technology, with Squarepoint Ops LLC raising its position by 405.4% in the second quarter, now owning 87,290 shares worth $859,000.
• Equities analysts have reacted positively, with Needham & Company raising its target price for SkyWater Technology from $11.00 to $15.00 and rating it as a "buy."

SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) CFO Steve Manko sold 43,383 shares of the company's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $15.13, for a total transaction of $656,384.79. Following the completion of the transaction, the chief financial officer directly owned 368,407 shares in the company, valued at approximately $5,573,997.91. The trade was a 10.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Steve Manko also recently made the following trade(s):

• On Friday, August 8th, Steve Manko sold 37,845 shares of SkyWater Technology stock. The stock was sold at an average price of $13.62, for a total transaction of $515,448.90.

SkyWater Technology Stock Up 0.7%

SKYT stock traded up $0.10 during trading on Wednesday, hitting $15.30. 1,247,226 shares of the company's stock traded hands, compared to its average volume of 860,757. 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 $11.26 and a two-hundred day simple moving average of $9.31. SkyWater Technology, Inc. has a 1 year low of $5.67 and a 1 year high of $19.00. The firm has a market capitalization of $737.15 million, a P/E ratio of -45.00 and a beta of 3.41.

Institutional Investors Weigh In On SkyWater Technology

Institutional investors have recently made changes to their positions in the company. Squarepoint Ops LLC raised its position in SkyWater Technology by 405.4% during the second quarter. Squarepoint Ops LLC now owns 87,290 shares of the company's stock worth $859,000 after acquiring an additional 70,019 shares during the period. Marex Group plc bought a new position in shares of SkyWater Technology during the 2nd quarter valued at $206,000. Sugar Maple Asset Management LLC bought a new position in shares of SkyWater Technology during the 2nd quarter worth approximately $253,000. BNP Paribas Financial Markets increased its holdings in SkyWater Technology by 56.4% in the second quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company's stock valued at $27,000 after purchasing an additional 991 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in SkyWater Technology by 15.7% in the second 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 during the last quarter. Institutional investors own 70.00% of the company's stock.

Analysts Set New Price Targets

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

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.

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