SkyWater Technology, Inc. (NASDAQ:SKYT) Director Loren A. Unterseher Sells 134,049 Shares

SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) Director Loren A. Unterseher sold 134,049 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $9.41, for a total value of $1,261,401.09. Following the completion of the transaction, the director now directly owns 11,026,783 shares in the company, valued at approximately $103,762,028.03. This trade represents a 1.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

SkyWater Technology Stock Down 3.1%

Shares of SKYT traded down $0.29 during mid-day trading on Wednesday, hitting $9.19. 676,591 shares of the company traded hands, compared to its average volume of 583,446. The company has a market capitalization of $441.44 million, a PE ratio of -26.26 and a beta of 3.40. The company has a quick ratio of 0.78, a current ratio of 0.87 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average of $7.45 and a 200 day moving average of $9.27. SkyWater Technology, Inc. has a 1-year low of $5.63 and a 1-year high of $19.00.

SkyWater Technology (NASDAQ:SKYT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.04 EPS for the quarter, topping analysts' consensus estimates of ($0.06) by $0.10. SkyWater Technology had a negative return on equity of 12.40% and a negative net margin of 4.75%. The company had revenue of $75.49 million during the quarter, compared to analysts' expectations of $74.25 million. Equities research analysts anticipate that SkyWater Technology, Inc. will post -0.22 EPS for the current year.

Institutional Investors Weigh In On SkyWater Technology

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in SkyWater Technology by 941.3% during the 1st quarter. GAMMA Investing LLC now owns 4,613 shares of the company's stock valued at $33,000 after acquiring an additional 4,170 shares during the period. Summit Investment Advisors Inc. lifted its holdings in 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 during the period. CWM LLC increased its holdings in shares of SkyWater Technology by 320.2% during the 1st quarter. CWM LLC now owns 5,719 shares of the company's stock valued at $41,000 after purchasing an additional 4,358 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in shares of SkyWater Technology in the 4th quarter valued at $50,000. Finally, BIT Capital GmbH acquired a new position in shares of SkyWater Technology in the 4th quarter valued at $143,000. Institutional investors and hedge funds own 70.00% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on SKYT shares. Needham & Company LLC dropped their target price on SkyWater Technology from $12.00 to $11.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. TD Cowen cut their price target on shares of SkyWater Technology from $15.00 to $12.00 and set a "buy" rating on the stock in a report on Thursday, May 8th.

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.