Loren Unterseher Sells 37,979 Shares of SkyWater Technology (NASDAQ:SKYT) Stock

Key Points

• Loren Unterseher, a director at SkyWater Technology, sold 37,979 shares at an average price of $11.16, totaling approximately $423,846, decreasing his ownership by 0.40% to 9,453,640 shares.
• SkyWater Technology's stock is currently priced at $11.63, reflecting a 1.8% decline during trading hours on Monday, with a market capitalization of $560.33 million.
• Multiple institutional investors have increased their stakes in SkyWater Technology, with Wells Fargo raising its stake by 51.1% in the fourth quarter, indicating growing institutional interest.

SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) Director Loren Unterseher sold 37,979 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $11.16, for a total transaction of $423,845.64. Following the sale, the director directly owned 9,453,640 shares in the company, valued at $105,502,622.40. This trade represents a 0.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

SkyWater Technology Trading Down 1.8%

NASDAQ:SKYT traded down $0.21 during trading hours on Monday, hitting $11.63. 1,021,120 shares of the stock were exchanged, compared to its average volume of 759,541. The company has a market capitalization of $560.33 million, a P/E ratio of -34.20 and a beta of 3.38. The company has a quick ratio of 0.97, a current ratio of 1.06 and a debt-to-equity ratio of 0.68. The company's 50 day moving average is $10.37 and its two-hundred day moving average is $8.93. SkyWater Technology, Inc. has a twelve month low of $5.67 and a twelve month high of $19.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN increased its stake in SkyWater Technology by 51.1% in the fourth quarter. Wells Fargo & Company MN now owns 12,826 shares of the company's stock valued at $177,000 after purchasing an additional 4,338 shares in the last quarter. Barclays PLC raised its stake in SkyWater Technology by 27.7% during the 4th quarter. Barclays PLC now owns 60,260 shares of the company's stock worth $832,000 after buying an additional 13,056 shares during the period. Dimensional Fund Advisors LP lifted its holdings in SkyWater Technology by 4.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 74,321 shares of the company's stock worth $1,026,000 after acquiring an additional 3,170 shares in the last quarter. MetLife Investment Management LLC grew its stake in SkyWater Technology by 28.1% in the fourth quarter. MetLife Investment Management LLC now owns 17,693 shares of the company's stock valued at $244,000 after acquiring an additional 3,882 shares during the period. Finally, Price T Rowe Associates Inc. MD bought a new stake in shares of SkyWater Technology in the fourth quarter worth about $147,000. Institutional investors own 70.00% of the company's stock.

Analyst Upgrades and Downgrades

SKYT has been the subject of a number of research reports. TD Cowen lowered their price objective on SkyWater Technology from $15.00 to $12.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Needham & Company LLC raised their target price 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 cut shares of SkyWater Technology from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average target price 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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