Insider Selling: SkyWater Technology, Inc. (NASDAQ:SKYT) Director Sells 3,144 Shares of Stock

SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) Director Loren A. Unterseher sold 3,144 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $9.35, for a total transaction of $29,396.40. Following the completion of the sale, the director now owns 10,564,829 shares in the company, valued at $98,781,151.15. This represents a 0.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

SkyWater Technology Stock Performance

SkyWater Technology stock traded up $0.21 during midday trading on Monday, hitting $9.24. The stock had a trading volume of 547,259 shares, compared to its average volume of 593,171. The company has a market capitalization of $443.84 million, a PE ratio of -26.40 and a beta of 3.43. SkyWater Technology, Inc. has a 52-week low of $5.63 and a 52-week high of $19.00. The firm's fifty day moving average is $7.69 and its two-hundred day moving average is $9.32. The company has a current ratio of 0.87, a quick ratio of 0.78 and a debt-to-equity ratio of 0.53.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SKYT. Needham & Company LLC dropped their price target on SkyWater Technology from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. TD Cowen dropped their target price on SkyWater Technology from $15.00 to $12.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Baillie Gifford & Co. raised its position in shares of SkyWater Technology by 65.4% during the fourth quarter. Baillie Gifford & Co. now owns 1,665,284 shares of the company's stock valued at $22,981,000 after buying an additional 658,431 shares during the last quarter. Nuveen LLC purchased a new stake in shares of SkyWater Technology in the first quarter worth about $1,919,000. Nuveen Asset Management LLC boosted its stake in SkyWater Technology by 414.5% during the fourth quarter. Nuveen Asset Management LLC now owns 277,962 shares of the company's stock valued at $3,836,000 after buying an additional 223,940 shares during the last quarter. AQR Capital Management LLC increased its stake in SkyWater Technology by 112.0% in the 1st quarter. AQR Capital Management LLC now owns 313,993 shares of the company's stock worth $2,226,000 after acquiring an additional 165,865 shares during the last quarter. Finally, Trexquant Investment LP increased its stake in SkyWater Technology by 169.7% in the 4th quarter. Trexquant Investment LP now owns 236,498 shares of the company's stock worth $3,264,000 after acquiring an additional 148,802 shares during the last quarter. Hedge funds and other institutional investors 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.