Loren A. Unterseher Sells 188,976 Shares of SkyWater Technology (NASDAQ:SKYT) Stock

Key Points

• Loren Unterseher, a director at SkyWater Technology, sold 188,976 shares at an average price of $10.47, marking a total transaction value of approximately $1.98 million and reducing his ownership by 2.57%.
• SkyWater Technology's stock has a market cap of $554.55 million and recently traded at $11.51, reflecting a slight increase of 1.1%.
• Recent analyst activity includes a price target increase from $11.00 to $15.00 by Needham & Company, with three analysts rating the stock as a Buy and a consensus target price of $13.00.

SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) Director Loren A. Unterseher sold 188,976 shares of the company's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $10.47, for a total transaction of $1,978,578.72. Following the completion of the transaction, the director owned 7,171,626 shares in the company, valued at $75,086,924.22. This represents a 2.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

SkyWater Technology Stock Up 1.9%

Shares of NASDAQ SKYT traded up $0.25 during midday trading on Friday, reaching $13.76. 2,960,851 shares of the company's stock traded hands, compared to its average volume of 1,333,393. 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 stock's 50 day simple moving average is $11.04 and its 200-day simple moving average is $9.20. SkyWater Technology, Inc. has a one year low of $5.67 and a one year high of $19.00. The company has a market cap of $662.90 million, a price-to-earnings ratio of -40.47 and a beta of 3.41.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SKYT shares. Needham & Company LLC increased their price objective 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. Wall Street Zen upgraded shares of SkyWater Technology from a "sell" rating to a "hold" rating in a research note on Friday, September 5th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, SkyWater Technology currently has an average rating of "Buy" and a consensus target price of $13.00.

Institutional Investors Weigh In On SkyWater Technology

Institutional investors have recently bought and sold shares of the company. Northern Trust Corp raised its holdings in shares of SkyWater Technology by 5.1% in the fourth quarter. Northern Trust Corp now owns 221,739 shares of the company's stock worth $3,060,000 after buying an additional 10,689 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in shares of SkyWater Technology in the fourth quarter worth $191,000. BNP Paribas Financial Markets purchased a new position in shares of SkyWater Technology in the fourth quarter worth $50,000. Bank of America Corp DE raised its holdings in shares of SkyWater Technology by 394.2% in the fourth quarter. Bank of America Corp DE now owns 163,645 shares of the company's stock worth $2,258,000 after buying an additional 130,529 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its holdings in shares of SkyWater Technology by 89.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 176,473 shares of the company's stock worth $2,435,000 after buying an additional 83,544 shares during the last quarter. 70.00% of the stock is currently 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.