Steve Manko Sells 37,845 Shares of SkyWater Technology, Inc. (NASDAQ:SKYT) Stock

Key Points

• Steve Manko, CFO of SkyWater Technology, sold 37,845 shares at an average price of $13.62, totaling approximately $515,448.90, which reduced his position by 9.32%.
• SkyWater Technology's stock recently traded down to $12.65, showing a significant trading volume of over 2 million shares compared to its average of 747,876 shares.
• Brokerage firms have mixed opinions on SkyWater Technology's prospects, with Wall Street Zen downgrading the stock to "sell," while Needham & Company raised its target price and maintained a "buy" rating.

SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) CFO Steve Manko sold 37,845 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $13.62, for a total transaction of $515,448.90. Following the transaction, the chief financial officer owned 368,407 shares in the company, valued at $5,017,703.34. The trade was a 9.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

SkyWater Technology Stock Performance

NASDAQ SKYT traded down $0.90 during mid-day trading on Tuesday, reaching $12.65. 2,127,738 shares of the stock were exchanged, compared to its average volume of 747,876. The business's 50 day moving average is $9.90 and its 200-day moving average is $8.83. SkyWater Technology, Inc. has a 1 year low of $5.67 and a 1 year high of $19.00. The company has a market capitalization of $609.48 million, a P/E ratio of -37.20 and a beta of 3.38. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.07 and a current ratio of 1.18.

Institutional Trading of SkyWater Technology

Hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. acquired a new stake in shares of SkyWater Technology during the 2nd quarter valued at about $377,000. Rhumbline Advisers grew its position in shares of SkyWater Technology by 27.4% during the 2nd quarter. Rhumbline Advisers now owns 47,643 shares of the company's stock valued at $469,000 after acquiring an additional 10,246 shares during the period. Creative Planning grew its position in shares of SkyWater Technology by 69.7% during the 2nd quarter. Creative Planning now owns 34,283 shares of the company's stock valued at $337,000 after acquiring an additional 14,085 shares during the period. Pekin Hardy Strauss Inc. acquired a new stake in SkyWater Technology in the 2nd quarter worth about $276,000. Finally, Emerald Mutual Fund Advisers Trust boosted its holdings in 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 buying an additional 111,847 shares during the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SKYT. Wall Street Zen lowered SkyWater Technology from a "hold" rating to a "sell" rating in a research note on Saturday. TD Cowen reduced their target price on SkyWater Technology from $15.00 to $12.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Finally, Needham & Company LLC raised their target price on SkyWater Technology from $11.00 to $15.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th.

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.

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