SkyWater Technology (NASDAQ:SKYT) Director Sells $734,065.36 in Stock

Key Points

• Loren Unterseher, a director at SkyWater Technology, sold 60,767 shares at an average price of $12.08, totaling approximately $734,065.36, reducing his stake by 0.79% to 7,600,245 shares.
• SkyWater Technology's stock recently fell by 4.0%, trading at $10.66, with a market cap of $513.60 million and a current P/E ratio of -31.35.
• Recent analyst ratings include a downgrade from "hold" to "sell" by Wall Street Zen, while Needham & Company raised its price target from $11.00 to $15.00, maintaining a "buy" rating.

SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) Director Loren A. Unterseher sold 60,767 shares of the business's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $12.08, for a total value of $734,065.36. Following the sale, the director directly owned 7,600,245 shares in the company, valued at approximately $91,810,959.60. The trade was a 0.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

SkyWater Technology Price Performance

NASDAQ:SKYT traded up $0.84 during midday trading on Monday, hitting $11.04. 1,647,973 shares of the stock were exchanged, compared to its average volume of 1,120,575. SkyWater Technology, Inc. has a one year low of $5.67 and a one year high of $19.00. The company has a market capitalization of $531.91 million, a price-to-earnings ratio of -32.47 and a beta of 3.41. The business has a 50-day moving average price of $10.85 and a two-hundred day moving average price of $9.05. 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

Several institutional investors and hedge funds have recently added to or reduced their stakes in SKYT. Ameriprise Financial Inc. grew its holdings in shares of 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 acquiring an additional 229,954 shares in the last quarter. Emerald Advisers LLC grew its holdings in shares of SkyWater Technology by 36.2% during the 2nd quarter. Emerald Advisers LLC now owns 1,362,983 shares of the company's stock valued at $13,412,000 after acquiring an additional 362,267 shares in the last quarter. Emerald Mutual Fund Advisers Trust grew its holdings in shares of SkyWater Technology by 18.6% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 714,144 shares of the company's stock valued at $7,027,000 after acquiring an additional 111,847 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of SkyWater Technology by 112.0% during the 1st 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 in the last quarter. Finally, Lountzis Asset Management LLC grew its holdings in shares of SkyWater Technology by 1.6% during the 1st quarter. Lountzis Asset Management LLC now owns 291,940 shares of the company's stock valued at $2,146,000 after acquiring an additional 4,618 shares in the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SKYT has been the topic of several research reports. Wall Street Zen raised SkyWater Technology from a "sell" rating to a "hold" rating in a report on Friday. Needham & Company LLC upped their price target on 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, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $13.00.

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.