Loren Unterseher Sells 188,976 Shares of SkyWater Technology (NASDAQ:SKYT) Stock

SkyWater Technology, Inc. (NASDAQ:SKYT) Director Loren Unterseher sold 188,976 shares of SkyWater Technology stock in a transaction on Friday, September 12th. The stock was sold at an average price of $10.47, for a total transaction of $1,978,578.72. Following the completion of the transaction, the director directly owned 7,171,626 shares of the company’s stock, valued at approximately $75,086,924.22. This represents a 2.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

SkyWater Technology Stock Up 7.2%

SkyWater Technology stock opened at $12.34 on Thursday. The company has a 50-day simple moving average of $10.90 and a 200-day simple moving average of $9.13. The firm has a market capitalization of $594.54 million, a P/E ratio of -36.29 and a beta of 3.41. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.97 and a current ratio of 1.06. SkyWater Technology, Inc. has a one year low of $5.67 and a one year high of $19.00.

Hedge Funds Weigh In On SkyWater Technology

Large investors have recently made changes to their positions in the business. Federated Hermes Inc. acquired a new position in shares of SkyWater Technology in the 2nd quarter valued at about $25,000. BNP Paribas Financial Markets increased its holdings in 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 buying an additional 991 shares during the last quarter. Financial Management Professionals Inc. acquired a new position in SkyWater Technology in the second quarter worth approximately $32,000. GAMMA Investing LLC increased its holdings in SkyWater Technology by 941.3% in the first quarter. GAMMA Investing LLC now owns 4,613 shares of the company’s stock worth $33,000 after buying an additional 4,170 shares during the last quarter. Finally, CWM LLC increased its holdings in SkyWater Technology by 320.2% in the first quarter. CWM LLC now owns 5,719 shares of the company’s stock worth $41,000 after buying an additional 4,358 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on SKYT. Needham & Company LLC upped their price target on shares of SkyWater Technology from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Wall Street Zen raised shares of SkyWater Technology from a “sell” rating to a “hold” rating in a report on Friday, September 5th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, SkyWater Technology presently has an average rating of “Buy” and an average price target of $13.00.

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.