Insider Selling: SkyWater Technology, Inc. (NASDAQ:SKYT) Director Sells 86,273 Shares of Stock

SkyWater Technology, Inc. (NASDAQ:SKYT) Director Loren A. Unterseher sold 86,273 shares of the business’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $9.50, for a total transaction of $819,593.50. Following the completion of the sale, the director now owns 10,574,092 shares of the company’s stock, valued at approximately $100,453,874. The trade was a 0.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

SkyWater Technology Trading Down 0.3%

NASDAQ:SKYT opened at $9.03 on Friday. The company has a fifty day moving average of $7.51 and a 200 day moving average of $9.28. SkyWater Technology, Inc. has a 52 week low of $5.63 and a 52 week high of $19.00. The company has a quick ratio of 0.78, a current ratio of 0.87 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $433.76 million, a P/E ratio of -25.80 and a beta of 3.40.

SkyWater Technology (NASDAQ:SKYT) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.10. SkyWater Technology had a negative net margin of 4.75% and a negative return on equity of 12.40%. The company had revenue of $75.49 million during the quarter, compared to analyst estimates of $74.25 million. On average, research analysts predict that SkyWater Technology, Inc. will post -0.22 earnings per share for the current year.

Institutional Investors Weigh In On SkyWater Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. raised its holdings in SkyWater Technology by 64.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,849 shares of the company’s stock valued at $39,000 after buying an additional 1,113 shares during the last quarter. Deutsche Bank AG raised its holdings in SkyWater Technology by 1.6% during the 1st quarter. Deutsche Bank AG now owns 84,977 shares of the company’s stock valued at $602,000 after buying an additional 1,372 shares during the last quarter. Ellevest Inc. raised its holdings in SkyWater Technology by 15.0% during the 4th quarter. Ellevest Inc. now owns 15,996 shares of the company’s stock valued at $221,000 after buying an additional 2,090 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its holdings in SkyWater Technology by 0.4% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 602,297 shares of the company’s stock valued at $4,270,000 after buying an additional 2,555 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in SkyWater Technology by 8.0% during the 1st quarter. Rhumbline Advisers now owns 37,397 shares of the company’s stock valued at $265,000 after buying an additional 2,783 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SKYT shares. TD Cowen lowered their price objective on shares of SkyWater Technology from $15.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Needham & Company LLC lowered their price objective on shares of SkyWater Technology from $12.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, May 8th.

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.