SkyWater Technology (NASDAQ:SKYT) Director Loren Unterseher Sells 120,000 Shares

Key Points

• SkyWater Technology's Director Loren Unterseher sold 120,000 shares at an average price of $13.10, resulting in a transaction valued at $1,572,000.
• The company's stock is currently trading at $15.53, showing a recent increase of 0.3%, with a 12-month price range between $5.67 and $19.00.
• Analysts have mixed ratings, with some upgrading the stock from "sell" to "hold," while others increased the price target to $15.00, indicating a potential for growth.

SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) Director Loren Unterseher sold 120,000 shares of the business's stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $13.10, for a total value of $1,572,000.00. Following the transaction, the director directly owned 7,051,626 shares in the company, valued at $92,376,300.60. This trade represents a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

SkyWater Technology Stock Up 0.3%

SKYT stock traded up $0.05 during midday trading on Tuesday, hitting $15.53. 206,793 shares of the company's stock were exchanged, compared to its average volume of 847,763. SkyWater Technology, Inc. has a 12-month low of $5.67 and a 12-month high of $19.00. The company has a current ratio of 1.06, a quick ratio of 0.97 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $748.09 million, a price-to-earnings ratio of -45.95 and a beta of 3.41. The firm has a 50 day moving average price of $11.15 and a 200-day moving average price of $9.27.

Analyst Ratings Changes

Several research firms recently weighed in on SKYT. Wall Street Zen raised SkyWater Technology from a "sell" rating to a "hold" rating in a research report on Friday, September 5th. Needham & Company LLC upped their price target on SkyWater Technology from $11.00 to $15.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $13.00.

Institutional Trading of SkyWater Technology

Several hedge funds have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. acquired a new position in shares of SkyWater Technology in the 4th quarter worth approximately $191,000. BNP Paribas Financial Markets acquired a new stake in SkyWater Technology during the 4th quarter valued at $50,000. Bank of America Corp DE increased its holdings in SkyWater Technology by 394.2% during the 4th quarter. Bank of America Corp DE now owns 163,645 shares of the company's stock valued at $2,258,000 after purchasing an additional 130,529 shares in the last quarter. Deutsche Bank AG increased its holdings in SkyWater Technology by 605.2% during the 4th quarter. Deutsche Bank AG now owns 83,605 shares of the company's stock valued at $1,154,000 after purchasing an additional 71,750 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its stake in shares of SkyWater Technology by 414.5% in the 4th quarter. Nuveen Asset Management LLC now owns 277,962 shares of the company's stock valued at $3,836,000 after buying an additional 223,940 shares during the period. Institutional investors own 70.00% of the company's stock.

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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