Insider Selling: SkyWater Technology (NASDAQ:SKYT) Director Sells 229,029 Shares of Stock

Key Points

• Director Loren Unterseher sold 229,029 shares of SkyWater Technology stock at an average price of $10.44, totaling approximately $2.39 million, which represents a 3.02% decrease in his ownership.
• SkyWater Technology's shares traded up 3.6% to $10.19, with an average trading volume of 1,501,742 shares compared to its usual volume of 1,084,634.
• Several analysts have upgraded their ratings on SkyWater Technology, with Needham & Company raising the price objective from $11.00 to $15.00, indicating a consensus rating of "Buy" with a target price of $13.00.

SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) Director Loren Unterseher sold 229,029 shares of the firm's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $10.44, for a total value of $2,391,062.76. Following the completion of the transaction, the director owned 7,360,602 shares in the company, valued at approximately $76,844,684.88. This trade represents a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

SkyWater Technology Trading Up 3.6%

Shares of NASDAQ:SKYT traded up $0.35 during trading on Thursday, reaching $10.19. 1,501,742 shares of the stock were exchanged, compared to its average volume of 1,084,634. The firm's 50-day moving average price is $10.84 and its 200 day moving average price is $9.07. SkyWater Technology, Inc. has a 12-month low of $5.67 and a 12-month 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.

Wall Street Analyst Weigh In

Several equities research 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 stock a "buy" rating in a research report on Thursday, August 7th. Wall Street Zen upgraded SkyWater Technology from a "sell" rating to a "hold" rating in a report on Friday, September 5th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $13.00.

Institutional Investors Weigh In On SkyWater Technology

Hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. acquired a new position in shares of SkyWater Technology in the 2nd quarter valued at approximately $25,000. BNP Paribas Financial Markets raised 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 acquiring an additional 991 shares in the last quarter. Financial Management Professionals Inc. acquired a new position in SkyWater Technology during the 2nd quarter worth $32,000. GAMMA Investing LLC grew its holdings 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 in the last quarter. Finally, CWM LLC increased its position in shares of SkyWater Technology by 320.2% in the 1st quarter. CWM LLC now owns 5,719 shares of the company's stock worth $41,000 after purchasing an additional 4,358 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company's stock.

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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