Steve Manko Sells 84,215 Shares of SkyWater Technology (NASDAQ:SKYT) Stock

Key Points

• CFO Steve Manko sold 84,215 shares on April 14 at an average price of $30.41 for about $2.56 million, reducing his stake by 32.92% to 171,567 shares; the trade was executed under a pre‑arranged Rule 10b5‑1 plan.
• That sale follows a March 16 disposition of 91,109 shares at $27.84 (~$2.54 million), indicating sizable insider selling in recent months.
• SkyWater trades near $32.53 with a $1.6B market cap; analysts have a consensus rating of "Reduce" (average target $32.00), and the company recently reported a revenue beat but a quarterly EPS miss.

SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) CFO Steve Manko sold 84,215 shares of the business's stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $30.41, for a total transaction of $2,560,978.15. Following the completion of the sale, the chief financial officer owned 171,567 shares in the company, valued at $5,217,352.47. The trade was a 32.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Steve Manko also recently made the following trade(s):

• On Monday, March 16th, Steve Manko sold 91,109 shares of SkyWater Technology stock. The shares were sold at an average price of $27.84, for a total transaction of $2,536,474.56.

SkyWater Technology Price Performance

NASDAQ:SKYT traded up $0.29 during trading hours on Thursday, reaching $32.53. 1,274,507 shares of the company's stock were exchanged, compared to its average volume of 1,958,259. The company has a market capitalization of $1.60 billion, a P/E ratio of 13.39 and a beta of 3.47. SkyWater Technology, Inc. has a 12 month low of $6.34 and a 12 month high of $36.27. The business's 50-day simple moving average is $28.72 and its two-hundred day simple moving average is $23.60. The company has a quick ratio of 0.52, a current ratio of 0.60 and a debt-to-equity ratio of 0.17.

SkyWater Technology (NASDAQ:SKYT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.02). The company had revenue of $171.04 million for the quarter, compared to analyst estimates of $160.05 million. SkyWater Technology had a net margin of 26.90% and a negative return on equity of 6.89%. SkyWater Technology's revenue was up 13.5% on a year-over-year basis. During the same quarter last year, the company posted $0.04 EPS. Sell-side analysts expect that SkyWater Technology, Inc. will post -0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On SkyWater Technology

Several hedge funds have recently bought and sold shares of SKYT. Inspire Investing LLC boosted its position in SkyWater Technology by 2.5% during the 4th quarter. Inspire Investing LLC now owns 25,460 shares of the company's stock worth $462,000 after acquiring an additional 612 shares during the period. BNP Paribas Financial Markets increased its stake in shares of SkyWater Technology by 56.4% in the second quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company's stock worth $27,000 after acquiring an additional 991 shares during the last quarter. NewEdge Advisors LLC increased its holdings in SkyWater Technology by 10.7% in the third quarter. NewEdge Advisors LLC now owns 10,350 shares of the company's stock worth $193,000 after buying an additional 1,000 shares during the last quarter. Quarry LP acquired a new stake in shares of SkyWater Technology in the fourth quarter worth $25,000. Finally, State of Wyoming acquired a new position in shares of SkyWater Technology during the 4th quarter worth about $35,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SKYT. TD Cowen lowered SkyWater Technology from a "buy" rating to a "hold" rating and increased their price target for the company from $24.00 to $35.00 in a research report on Tuesday, January 27th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of SkyWater Technology in a research note on Friday, March 27th. Needham & Company LLC cut shares of SkyWater Technology from a "buy" rating to a "hold" rating in a report on Monday, January 26th. Piper Sandler downgraded shares of SkyWater Technology from an "overweight" rating to a "neutral" rating and lifted their target price for the stock from $17.00 to $35.00 in a research report on Monday, January 26th. Finally, Stifel Nicolaus set a $35.00 price target on shares of SkyWater Technology in a report on Monday, January 26th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average target price of $32.00.

SkyWater Technology Company Profile

SkyWater Technology Solutions, Inc is a U.S.-based specialty semiconductor foundry headquartered in Bloomington, Minnesota. The company focuses on the development and manufacture of high-reliability integrated circuits using advanced processes on 200-millimeter wafers.

SkyWater's service offerings span analog/mixed-signal, radio frequency (RF), micro-electromechanical systems (MEMS) and advanced packaging technologies. Its turnkey model includes multi-project wafer (MPW) runs, volume production, design enablement support and assembly and test services, enabling customers to take concepts from prototype to market.

Serving aerospace, defense, automotive, industrial, medical and communications sectors, SkyWater supports applications that demand rigorous performance, quality and traceability.

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