Insider Selling: SkyWater Technology, Inc. (NASDAQ:SKYT) CEO Sells 24,936 Shares of Stock

Key Points

• Thomas Sonderman, CEO of SkyWater Technology, sold 24,936 shares of the company at an average price of $12.24, totalling approximately $305,216, resulting in a 4.41% decrease in his ownership.
• SkyWater Technology's stock has decreased by 3.7%, trading at $11.81 with a market cap of $568.96 million and significant trading volume of over 1 million shares.
• Several institutional investors recently adjusted their positions, with Vanguard Group increasing its stake by 2.8%, now holding nearly 1.45 million shares.

SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) CEO Thomas Sonderman sold 24,936 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $12.24, for a total value of $305,216.64. Following the transaction, the chief executive officer directly owned 540,529 shares of the company's stock, valued at $6,616,074.96. The trade was a 4.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Thomas Sonderman also recently made the following trade(s):

• On Thursday, June 26th, Thomas Sonderman sold 14,958 shares of SkyWater Technology stock. The shares were sold at an average price of $10.04, for a total value of $150,178.32.

SkyWater Technology Price Performance

Shares of SkyWater Technology stock traded down $0.35 during trading hours on Tuesday, reaching $11.04. The company's stock had a trading volume of 134,994 shares, compared to its average volume of 751,780. The stock has a market cap of $531.86 million, a P/E ratio of -32.40 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 firm has a 50 day moving average price of $10.18 and a 200-day moving average price of $8.90. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.06 and a quick ratio of 0.97.

Analysts Set New Price Targets

SKYT has been the subject of several recent research reports. Wall Street Zen lowered SkyWater Technology from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. TD Cowen reduced 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. Finally, Needham & Company LLC raised their target price on SkyWater Technology from $11.00 to $15.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th.

Institutional Trading of SkyWater Technology

A number of large investors have recently made changes to their positions in SKYT. GAMMA Investing LLC boosted its stake in SkyWater Technology by 7,282.8% in the 1st quarter. GAMMA Investing LLC now owns 32,706 shares of the company's stock worth $232,000 after purchasing an additional 32,263 shares in the last quarter. Vanguard Group Inc. increased its position in SkyWater Technology by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 1,448,738 shares of the company's stock worth $19,993,000 after purchasing an additional 40,060 shares during the last quarter. Deutsche Bank AG increased its position in shares of SkyWater Technology by 605.2% during the 4th quarter. Deutsche Bank AG now owns 83,605 shares of the company's stock worth $1,154,000 after purchasing an additional 71,750 shares during the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of SkyWater Technology during the 4th quarter worth approximately $1,510,000. Finally, Franklin Resources Inc. purchased a new stake in shares of SkyWater Technology in the 4th quarter valued at $546,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

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.