SkyWater Technology (NASDAQ:SKYT) Director Loren A. Unterseher Sells 292,628 Shares

Key Points

• Director Loren Unterseher of SkyWater Technology sold 292,628 shares for a total of $3,365,222, decreasing his ownership stake by 3.10% to 9,161,012 shares valued at approximately $105 million.
• The stock price of SKYT reached $11.63, with a market capitalization of $560.33 million, marking a trading volume of over 1 million shares.
• Analysts have mixed opinions on the stock, with Wall Street Zen downgrading it to a "sell" while Needham upgraded the price target to $15.00 and maintained a "buy" rating.

SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) Director Loren A. Unterseher sold 292,628 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $11.50, for a total transaction of $3,365,222.00. Following the completion of the sale, the director owned 9,161,012 shares of the company's stock, valued at $105,351,638. The trade was a 3.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

SkyWater Technology Stock Up 2.9%

Shares of NASDAQ SKYT traded up $0.35 during mid-day trading on Thursday, reaching $12.35. 746,418 shares of the company's stock traded hands, compared to its average volume of 777,083. The stock has a market cap of $594.97 million, a P/E ratio of -36.32 and a beta of 3.38. The business has a 50-day simple moving average of $10.57 and a 200 day simple moving average of $8.99. SkyWater Technology, Inc. has a 1-year low of $5.67 and a 1-year high of $19.00. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.06 and a quick ratio of 0.97.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SKYT. Wall Street Zen lowered shares of SkyWater Technology from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Needham & Company LLC boosted their price target on shares of SkyWater Technology from $11.00 to $15.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Finally, TD Cowen lowered their price target on shares of SkyWater Technology from $15.00 to $12.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $13.00.

Hedge Funds Weigh In On SkyWater Technology

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Federated Hermes Inc. purchased a new stake in SkyWater Technology during the 2nd quarter valued at $25,000. BNP Paribas Financial Markets boosted its position in SkyWater Technology by 56.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company's stock valued at $27,000 after buying an additional 991 shares during the period. Financial Management Professionals Inc. purchased a new stake in SkyWater Technology during the 2nd quarter valued at $32,000. GAMMA Investing LLC boosted its position 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 buying an additional 4,170 shares during the period. Finally, CWM LLC boosted its position in 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 buying an additional 4,358 shares during the period. Hedge funds and other institutional investors own 70.00% of the company's stock.

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.