SkyWater Technology, Inc. (NASDAQ:SKYT) CFO Sells $515,448.90 in 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 SkyWater Technology stock in a transaction on Friday, August 8th. The stock was sold at an average price of $13.62, for a total value of $515,448.90. Following the sale, the chief financial officer directly owned 368,407 shares of the company's stock, valued at $5,017,703.34. This represents a 9.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

SkyWater Technology Stock Performance

Shares of NASDAQ:SKYT traded down $0.40 on Friday, hitting $11.41. 829,629 shares of the company were exchanged, compared to its average volume of 1,254,109. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.97 and a current ratio of 1.06. The firm has a market capitalization of $549.73 million, a price-to-earnings ratio of -33.56 and a beta of 3.38. SkyWater Technology, Inc. has a one year low of $5.67 and a one year high of $19.00. The company's 50 day moving average price is $10.14 and its two-hundred day moving average price is $8.89.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SKYT. Wall Street Zen downgraded SkyWater Technology from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. TD Cowen cut their price objective on SkyWater Technology from $15.00 to $12.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Finally, Needham & Company LLC lifted their price objective on SkyWater Technology from $11.00 to $15.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th.

Hedge Funds Weigh In On SkyWater Technology

Several hedge funds have recently bought and sold shares of the company. Emerald Advisers LLC lifted its holdings in SkyWater Technology by 36.2% during the second quarter. Emerald Advisers LLC now owns 1,362,983 shares of the company's stock valued at $13,412,000 after purchasing an additional 362,267 shares during the last quarter. Nuveen LLC bought a new position in shares of SkyWater Technology during the first quarter valued at $1,919,000. Ameriprise Financial Inc. lifted its position in shares of SkyWater Technology by 15.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,693,056 shares of the company's stock valued at $16,660,000 after buying an additional 229,954 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in SkyWater Technology by 414.5% during 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. Finally, AQR Capital Management LLC grew its position in shares of SkyWater Technology by 112.0% during the 1st quarter. AQR Capital Management LLC now owns 313,993 shares of the company's stock worth $2,226,000 after buying an additional 165,865 shares in the last quarter. 70.00% of the stock is owned by institutional investors.

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.