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 sale, the director now directly owns 11,026,783 shares of the company's stock, valued at $103,762,028.03. The trade was a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

SkyWater Technology Price Performance

Shares of NASDAQ SKYT traded up $0.48 during trading on Tuesday, reaching $9.48. The company had a trading volume of 1,369,662 shares, compared to its average volume of 582,576. SkyWater Technology, Inc. has a twelve month low of $5.63 and a twelve month high of $19.00. The stock has a market capitalization of $455.37 million, a PE ratio of -27.09 and a beta of 3.40. The stock has a 50-day moving average price of $7.45 and a two-hundred day moving average price of $9.27. The company has a current ratio of 0.87, a quick ratio of 0.78 and a debt-to-equity ratio of 0.53.

SkyWater Technology (NASDAQ:SKYT - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.04 earnings per share 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. As a group, sell-side analysts predict that SkyWater Technology, Inc. will post -0.22 earnings per share for the current year.

Institutional Investors Weigh In On SkyWater Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Summit Investment Advisors Inc. grew 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 purchasing an additional 1,113 shares during the period. Deutsche Bank AG grew its position in shares of SkyWater Technology by 1.6% in the first quarter. Deutsche Bank AG now owns 84,977 shares of the company's stock valued at $602,000 after purchasing an additional 1,372 shares during the period. Ellevest Inc. grew its position in shares of SkyWater Technology by 15.0% in the fourth quarter. Ellevest Inc. now owns 15,996 shares of the company's stock valued at $221,000 after purchasing an additional 2,090 shares during the period. Emerald Mutual Fund Advisers Trust grew its position in shares of SkyWater Technology by 0.4% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 602,297 shares of the company's stock valued at $4,270,000 after purchasing an additional 2,555 shares during the period. Finally, Rhumbline Advisers grew its position in shares of SkyWater Technology by 8.0% in the first quarter. Rhumbline Advisers now owns 37,397 shares of the company's stock valued at $265,000 after purchasing an additional 2,783 shares during the period. Hedge funds and other institutional investors own 70.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SKYT. TD Cowen reduced their price objective on SkyWater Technology from $15.00 to $12.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Needham & Company LLC reduced their price objective on SkyWater Technology from $12.00 to $11.00 and set a "buy" rating for the company in a report on Thursday, May 8th.

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.