Insider Selling: SkyWater Technology (NASDAQ:SKYT) Director Sells 5,684 Shares of Stock

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 company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $11.51, for a total transaction of $65,422.84. Following the completion of the sale, the director owned 9,589,576 shares in the company, valued at approximately $110,376,019.76. This trade represents a 0.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

SkyWater Technology Stock Up 7.9%

Shares of SkyWater Technology stock traded up $0.87 during trading on Friday, reaching $11.84. The company had a trading volume of 913,873 shares, compared to its average volume of 1,307,158. The company has a market cap of $570.45 million, a price-to-earnings ratio of -34.82 and a beta of 3.38. The firm's fifty day moving average is $10.37 and its 200-day moving average is $8.94. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.97 and a current ratio of 1.06. SkyWater Technology, Inc. has a fifty-two week low of $5.67 and a fifty-two week high of $19.00.

Institutional Trading of SkyWater Technology

A number of large investors have recently modified their holdings of the company. Ameriprise Financial Inc. increased its holdings in shares of SkyWater Technology by 15.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,693,056 shares of the company's stock worth $16,660,000 after acquiring an additional 229,954 shares during the period. Emerald Advisers LLC increased its holdings in shares of SkyWater Technology by 36.2% in the 2nd quarter. Emerald Advisers LLC now owns 1,362,983 shares of the company's stock worth $13,412,000 after acquiring an additional 362,267 shares during the period. Emerald Mutual Fund Advisers Trust increased its holdings in shares of SkyWater Technology by 18.6% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 714,144 shares of the company's stock worth $7,027,000 after acquiring an additional 111,847 shares during the period. AQR Capital Management LLC increased its holdings in shares of SkyWater Technology by 112.0% in the 1st quarter. AQR Capital Management LLC now owns 313,993 shares of the company's stock worth $2,226,000 after acquiring an additional 165,865 shares during the period. Finally, Lountzis Asset Management LLC increased its holdings in shares of SkyWater Technology by 1.6% in the 1st quarter. Lountzis Asset Management LLC now owns 291,940 shares of the company's stock worth $2,146,000 after acquiring an additional 4,618 shares during the period. Institutional investors and hedge funds own 70.00% of the company's stock.

Analyst Ratings Changes

SKYT has been the topic of a number of recent analyst reports. Needham & Company LLC upped their target price on shares of SkyWater Technology from $11.00 to $15.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. TD Cowen cut their target price on shares of 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 cut shares of SkyWater Technology from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $13.00.

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.