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

SkyWater Technology, Inc. (NASDAQ:SKYT) CFO Steve Manko sold 84,215 shares of the firm’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 value of $2,560,978.15. Following the completion of the sale, the chief financial officer owned 171,567 shares of the company’s stock, valued at $5,217,352.47. This represents a 32.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 stock was sold at an average price of $27.84, for a total value of $2,536,474.56.

SkyWater Technology Price Performance

Shares of SKYT stock opened at $32.53 on Friday. The stock has a 50 day moving average of $28.80 and a two-hundred day moving average of $23.66. The company has a current ratio of 0.60, a quick ratio of 0.52 and a debt-to-equity ratio of 0.17. SkyWater Technology, Inc. has a 12 month low of $6.34 and a 12 month high of $36.27. 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 (NASDAQ:SKYT) 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). SkyWater Technology had a negative return on equity of 6.89% and a net margin of 26.90%.The firm had revenue of $171.04 million during the quarter, compared to the consensus estimate of $160.05 million. During the same quarter in the prior year, the business posted $0.04 EPS. SkyWater Technology’s revenue was up 13.5% compared to the same quarter last year. As a group, equities analysts expect that SkyWater Technology, Inc. will post -0.22 EPS for the current year.

Hedge Funds Weigh In On SkyWater Technology

A number of hedge funds have recently modified their holdings of SKYT. Millennium Management LLC raised its holdings in shares of SkyWater Technology by 3,396.4% in the 3rd quarter. Millennium Management LLC now owns 775,364 shares of the company’s stock worth $14,468,000 after buying an additional 753,188 shares in the last quarter. State Street Corp raised its holdings in shares of SkyWater Technology by 134.1% in the 4th quarter. State Street Corp now owns 1,210,673 shares of the company’s stock worth $21,986,000 after buying an additional 693,470 shares in the last quarter. Trexquant Investment LP acquired a new stake in SkyWater Technology during the 4th quarter valued at $6,745,000. Federated Hermes Inc. increased its holdings in SkyWater Technology by 13,712.9% during the 3rd quarter. Federated Hermes Inc. now owns 347,119 shares of the company’s stock valued at $6,477,000 after purchasing an additional 344,606 shares in the last quarter. Finally, Erste Asset Management GmbH increased its holdings in SkyWater Technology by 21.7% during the 3rd quarter. Erste Asset Management GmbH now owns 1,400,000 shares of the company’s stock valued at $25,508,000 after purchasing an additional 250,000 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Craig Hallum downgraded SkyWater Technology from a “buy” rating to a “hold” rating and set a $35.00 price objective for the company. in a research report on Tuesday, January 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of SkyWater Technology in a research report on Friday, March 27th. Needham & Company LLC downgraded SkyWater Technology from a “buy” rating to a “hold” rating in a research report on Monday, January 26th. Piper Sandler cut SkyWater Technology from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $17.00 to $35.00 in a report on Monday, January 26th. Finally, TD Cowen cut SkyWater Technology from a “buy” rating to a “hold” rating and increased their target price for the stock from $24.00 to $35.00 in a report on Tuesday, January 27th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, SkyWater Technology presently has a consensus rating of “Reduce” and an average price target of $32.00.

About SkyWater Technology

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.