SkyWater Technology, Inc. (NASDAQ:SKYT) CEO Thomas Sonderman Sells 24,936 Shares

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 SkyWater Technology stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $12.24, for a total value of $305,216.64. Following the completion of the sale, the chief executive officer directly owned 540,529 shares of the company's stock, valued at approximately $6,616,074.96. The trade was a 4.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

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

SkyWater Technology Stock Performance

NASDAQ SKYT traded down $0.40 on Friday, hitting $11.41. 829,629 shares of the company traded hands, compared to its average volume of 1,240,979. The company has a market capitalization of $549.69 million, a price-to-earnings ratio of -33.56 and a beta of 3.38. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.68. The business's 50 day moving average price is $10.14 and its 200-day moving average price is $8.90. SkyWater Technology, Inc. has a 52-week low of $5.67 and a 52-week high of $19.00.

Hedge Funds Weigh In On SkyWater Technology

Institutional investors and hedge funds have recently bought and sold shares of the stock. Federated Hermes Inc. purchased a new position in shares of SkyWater Technology in the second quarter valued at about $25,000. BNP Paribas Financial Markets lifted its position in shares of SkyWater Technology by 56.4% in the second quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company's stock valued at $27,000 after acquiring an additional 991 shares in the last quarter. Summit Investment Advisors Inc. lifted its position in shares of SkyWater Technology by 64.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,849 shares of the company's stock valued at $39,000 after acquiring an additional 1,113 shares in the last quarter. Financial Management Professionals Inc. purchased a new position in shares of SkyWater Technology in the second quarter valued at about $32,000. Finally, GAMMA Investing LLC increased its holdings in shares of SkyWater Technology by 941.3% in the first quarter. GAMMA Investing LLC now owns 4,613 shares of the company's stock worth $33,000 after purchasing an additional 4,170 shares during the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SKYT. Needham & Company LLC raised their price target on SkyWater Technology from $11.00 to $15.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. TD Cowen dropped their price target on SkyWater Technology from $15.00 to $12.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Finally, Wall Street Zen downgraded SkyWater Technology from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th.

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.