SkyWater Technology, Inc. (NASDAQ:SKYT) Director Loren A. Unterseher Sells 5,684 Shares

Key Points

• Loren A. Unterseher, a director at SkyWater Technology, sold 5,684 shares at an average price of $11.51, totaling approximately $65,422, reducing his holdings by 0.06%.
• SkyWater Technology's stock recently traded at $11.39, with a market capitalization of approximately $548.77 million and a price-to-earnings ratio of -33.50.
• Analysts have varied views on the stock, with TD Cowen lowering its price target to $12.00 while Needham & Company raised it to $15.00, indicating differing opinions on the company's potential.

SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) Director Loren A. Unterseher sold 5,684 shares of the firm's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $11.51, for a total value of $65,422.84. Following the completion of the sale, the director directly owned 9,589,576 shares of the company's stock, valued at approximately $110,376,019.76. This represents a 0.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

SkyWater Technology Stock Performance

Shares of NASDAQ:SKYT traded down $0.02 during trading on Monday, hitting $11.39. The stock had a trading volume of 1,076,726 shares, compared to its average volume of 756,159. SkyWater Technology, Inc. has a 12-month low of $5.67 and a 12-month high of $19.00. The stock has a market capitalization of $548.77 million, a price-to-earnings ratio of -33.50 and a beta of 3.38. The company has a quick ratio of 0.97, a current ratio of 1.06 and a debt-to-equity ratio of 0.68. The stock has a 50-day simple moving average of $10.14 and a two-hundred day simple moving average of $8.89.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. TD Cowen lowered their price target 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 raised their price target on SkyWater Technology from $11.00 to $15.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Finally, Wall Street Zen downgraded SkyWater Technology from a "hold" rating to a "sell" rating in a report on Saturday, August 9th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SKYT. Wells Fargo & Company MN raised its stake in shares of SkyWater Technology by 51.1% in the fourth quarter. Wells Fargo & Company MN now owns 12,826 shares of the company's stock worth $177,000 after purchasing an additional 4,338 shares during the last quarter. Summit Investment Advisors Inc. raised its position in SkyWater Technology by 64.1% during 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. Barclays PLC raised its position in SkyWater Technology by 27.7% during the fourth quarter. Barclays PLC now owns 60,260 shares of the company's stock valued at $832,000 after acquiring an additional 13,056 shares in the last quarter. XTX Topco Ltd raised its position in SkyWater Technology by 45.1% during the fourth quarter. XTX Topco Ltd now owns 37,228 shares of the company's stock valued at $514,000 after acquiring an additional 11,578 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in SkyWater Technology by 4.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 74,321 shares of the company's stock valued at $1,026,000 after acquiring an additional 3,170 shares in the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

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.

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