Insider Selling: SkyWater Technology, Inc. (NASDAQ:SKYT) Director Sells 67,345 Shares of Stock

SkyWater Technology, Inc. (NASDAQ:SKYT) Director Loren A. Unterseher sold 67,345 shares of the company’s stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $9.44, for a total value of $635,736.80. Following the transaction, the director now owns 10,446,708 shares in the company, valued at $98,616,923.52. This trade represents a 0.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

SkyWater Technology Stock Down 7.1%

SKYT stock opened at $8.19 on Friday. SkyWater Technology, Inc. has a fifty-two week low of $5.63 and a fifty-two week high of $19.00. The business’s 50 day moving average price is $7.95 and its two-hundred day moving average price is $9.32. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 0.87. The company has a market capitalization of $393.41 million, a price-to-earnings ratio of -23.40 and a beta of 3.43.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SKYT. Needham & Company LLC reduced their target price on SkyWater Technology from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. TD Cowen reduced their target price on SkyWater Technology from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, May 8th.

Institutional Inflows and Outflows

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

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.