Insider Selling: SkyWater Technology (NASDAQ:SKYT) Director Sells 345,765 Shares of Stock

Key Points

• Loren A. Unterseher sold 345,765 shares of SkyWater Technology at an average price of $12.84, totaling approximately $4.44 million, which decreased their ownership by 3.31%.
• SkyWater Technology's stock price recently fell by 3.7%, reaching $11.81, with a trading volume of over 1 million shares.
• Institutional investors now hold 70.00% of SkyWater Technology's stock, with several firms making significant modifications to their positions recently.

SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) Director Loren A. Unterseher sold 345,765 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $12.84, for a total transaction of $4,439,622.60. Following the sale, the director directly owned 10,100,043 shares in the company, valued at $129,684,552.12. The trade was a 3.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

SkyWater Technology Stock Performance

Shares of SkyWater Technology stock traded down $0.59 during trading hours on Tuesday, reaching $10.80. The company had a trading volume of 733,542 shares, compared to its average volume of 1,258,598. The firm has a market cap of $520.34 million, a PE ratio of -31.76 and a beta of 3.38. SkyWater Technology, Inc. has a one year low of $5.67 and a one year high of $19.00. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.06 and a quick ratio of 0.97. The business has a fifty day simple moving average of $10.21 and a 200 day simple moving average of $8.91.

Analyst Ratings Changes

A number of research analysts have weighed in on SKYT shares. TD Cowen reduced their target price on SkyWater Technology from $15.00 to $12.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Needham & Company LLC boosted 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. Finally, Wall Street Zen lowered shares of SkyWater Technology from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $13.00.

Institutional Trading of SkyWater Technology

Several hedge funds and other institutional investors have recently bought and sold shares of SKYT. Emerald Advisers LLC increased its holdings in shares of SkyWater Technology by 36.2% in the second quarter. Emerald Advisers LLC now owns 1,362,983 shares of the company's stock worth $13,412,000 after buying an additional 362,267 shares during the period. Nuveen LLC purchased a new position in shares of SkyWater Technology in the first quarter worth $1,919,000. Ameriprise Financial Inc. boosted its position in SkyWater Technology by 15.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,693,056 shares of the company's stock valued at $16,660,000 after buying an additional 229,954 shares during the period. Nuveen Asset Management LLC grew its holdings in SkyWater Technology by 414.5% in the 4th quarter. Nuveen Asset Management LLC now owns 277,962 shares of the company's stock worth $3,836,000 after acquiring an additional 223,940 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of SkyWater Technology by 112.0% in the first quarter. AQR Capital Management LLC now owns 313,993 shares of the company's stock valued at $2,226,000 after acquiring an additional 165,865 shares during the period. 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.