SkyWater Technology (NASDAQ:SKYT) Director Loren A. Unterseher Sells 243,484 Shares

Key Points

• Director Loren Unterseher sold 243,484 shares of SkyWater Technology at an average price of $11.82, totaling approximately $2.88 million, reducing their ownership by 2.66%.
• SkyWater Technology's stock decreased by 1.8% on the trading day, reaching $11.63, with a market capitalization of $560.33 million.
• Analysts have mixed ratings for SkyWater Technology, with target prices ranging from $12.00 to $15.00, averaging a 'Buy' rating and a consensus target of $13.00.

SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) Director Loren A. Unterseher sold 243,484 shares of the company's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $11.82, for a total transaction of $2,877,980.88. Following the completion of the transaction, the director owned 8,917,528 shares of the company's stock, valued at $105,405,180.96. This trade represents a 2.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

SkyWater Technology Stock Up 2.9%

Shares of SkyWater Technology stock traded up $0.35 during trading on Thursday, hitting $12.35. The company's stock had a trading volume of 746,418 shares, compared to its average volume of 777,083. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.97 and a current ratio of 1.06. The company has a fifty day simple moving average of $10.57 and a two-hundred day simple moving average of $8.99. The company has a market capitalization of $594.97 million, a PE ratio of -36.32 and a beta of 3.38. SkyWater Technology, Inc. has a 52 week low of $5.67 and a 52 week high of $19.00.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SKYT. Needham & Company LLC increased their price target on shares of SkyWater Technology from $11.00 to $15.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Wall Street Zen lowered shares of SkyWater Technology from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, TD Cowen decreased their price target on shares of SkyWater Technology from $15.00 to $12.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $13.00.

Institutional Trading of SkyWater Technology

A number of institutional investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. lifted its position in shares of SkyWater Technology by 15.7% in the second quarter. Ameriprise Financial Inc. now owns 1,693,056 shares of the company's stock valued at $16,660,000 after acquiring an additional 229,954 shares in the last quarter. Emerald Advisers LLC raised its position in shares of SkyWater Technology by 36.2% during the second quarter. Emerald Advisers LLC now owns 1,362,983 shares of the company's stock valued at $13,412,000 after buying an additional 362,267 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its position in shares of SkyWater Technology by 18.6% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 714,144 shares of the company's stock valued at $7,027,000 after buying an additional 111,847 shares during the last quarter. AQR Capital Management LLC raised its position in shares of SkyWater Technology by 112.0% during the first quarter. AQR Capital Management LLC now owns 313,993 shares of the company's stock valued at $2,226,000 after buying an additional 165,865 shares during the last quarter. Finally, Lountzis Asset Management LLC raised its position in shares of SkyWater Technology by 1.6% during the first quarter. Lountzis Asset Management LLC now owns 291,940 shares of the company's stock valued at $2,146,000 after buying an additional 4,618 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company's stock.

SkyWater Technology Company Profile

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.