Loren Unterseher Sells 120,370 Shares of SkyWater Technology (NASDAQ:SKYT) Stock

Key Points

• Loren Unterseher, a director at SkyWater Technology, sold 120,370 shares at an average price of $18.02, totaling over $2.1 million, reducing his ownership by 1.74%.
• SkyWater Technology's stock price reached $18.66 after trading up $0.44, with a market capitalization of approximately $899.04 million.
• Analysts are optimistic, with a consensus rating of "Buy" and a price target increase to $15.00 from Needham & Company.

SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) Director Loren Unterseher sold 120,370 shares of the business's stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $18.02, for a total transaction of $2,169,067.40. Following the transaction, the director owned 6,811,256 shares in the company, valued at $122,738,833.12. This represents a 1.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

SkyWater Technology Stock Performance

Shares of SkyWater Technology stock traded up $0.44 during trading on Tuesday, hitting $18.66. 2,158,327 shares of the stock were exchanged, compared to its average volume of 1,836,208. SkyWater Technology, Inc. has a 1-year low of $5.67 and a 1-year high of $19.87. The stock has a market capitalization of $899.04 million, a price-to-earnings ratio of -54.88 and a beta of 3.41. The company has a fifty day moving average price of $11.93 and a 200-day moving average price of $9.63. The company has a current ratio of 1.06, a quick ratio of 0.97 and a debt-to-equity ratio of 0.68.

Hedge Funds Weigh In On SkyWater Technology

Institutional investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. bought a new position in shares of SkyWater Technology in the second quarter valued at $25,000. BNP Paribas Financial Markets lifted its position in SkyWater Technology by 56.4% during 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. Financial Management Professionals Inc. bought a new stake in SkyWater Technology during the second quarter valued at approximately $32,000. GAMMA Investing LLC lifted its holdings in shares of SkyWater Technology by 941.3% in 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 during the last quarter. Finally, CWM LLC lifted its holdings 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 acquiring an additional 4,358 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SKYT. Wall Street Zen raised shares of SkyWater Technology from a "sell" rating to a "hold" rating in a report on Friday, September 5th. 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 report on Thursday, August 7th. Three analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target 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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