SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report)'s share price rose 8.4% during trading on Wednesday . The company traded as high as $10.39 and last traded at $10.78. Approximately 187,183 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 611,937 shares. The stock had previously closed at $9.95.
Analyst Upgrades and Downgrades
SKYT has been the subject of a number of research reports. Needham & Company LLC decreased their price objective on SkyWater Technology from $12.00 to $11.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. TD Cowen dropped their price objective on shares of SkyWater Technology from $15.00 to $12.00 and set a "buy" rating on the stock in a report on Thursday, May 8th.
Check Out Our Latest Report on SkyWater Technology
SkyWater Technology Stock Performance
The company has a quick ratio of 1.07, a current ratio of 1.18 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $525.93 million, a price-to-earnings ratio of -64.41 and a beta of 3.40. The stock's 50-day simple moving average is $8.65 and its 200 day simple moving average is $9.39.
Insider Transactions at SkyWater Technology
In other SkyWater Technology news, Director Loren A. Unterseher sold 366,418 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $9.54, for a total transaction of $3,495,627.72. Following the transaction, the director owned 10,660,365 shares in the company, valued at approximately $101,699,882.10. This trade represents a 3.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas Sonderman sold 14,958 shares of the business's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $10.04, for a total transaction of $150,178.32. Following the completion of the transaction, the chief executive officer directly owned 565,465 shares of the company's stock, valued at $5,677,268.60. This trade represents a 2.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold 729,982 shares of company stock valued at $6,933,545 over the last ninety days. 37.85% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the stock. Nuveen LLC acquired a new position in shares of SkyWater Technology during the first quarter worth about $1,919,000. Nuveen Asset Management LLC raised its stake in 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 acquiring an additional 223,940 shares during the period. AQR Capital Management LLC lifted its position in SkyWater Technology by 112.0% during the first 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 last quarter. Trexquant Investment LP lifted its holdings in shares of SkyWater Technology by 169.7% during the fourth quarter. Trexquant Investment LP now owns 236,498 shares of the company's stock worth $3,264,000 after buying an additional 148,802 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of SkyWater Technology by 394.2% in the fourth quarter. Bank of America Corp DE now owns 163,645 shares of the company's stock valued at $2,258,000 after buying an additional 130,529 shares during the period. Institutional investors own 70.00% of the company's stock.
SkyWater Technology Company Profile
(
Get Free Report)
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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