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 firm’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 value of $819,593.50. Following the sale, the director now directly owns 10,574,092 shares of the company’s stock, valued at $100,453,874. This represents a 0.81% 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 Down 1.4%

Shares of NASDAQ:SKYT opened at $9.06 on Friday. The business’s 50 day simple moving average is $7.50 and its two-hundred day simple moving average is $9.27. The firm has a market cap of $435.20 million, a P/E ratio of -25.89 and a beta of 3.40. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 0.87. SkyWater Technology, Inc. has a 52-week low of $5.63 and a 52-week high of $19.00.

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SKYT shares. TD Cowen decreased their target price on SkyWater Technology from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Needham & Company LLC cut their price target on SkyWater Technology from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, May 8th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SKYT. SG Americas Securities LLC bought a new position in shares of SkyWater Technology in the fourth quarter valued at approximately $225,000. Strategic Blueprint LLC bought a new position in shares of SkyWater Technology in the fourth quarter valued at approximately $210,000. Entropy Technologies LP bought a new position in shares of SkyWater Technology in the fourth quarter valued at approximately $151,000. UNICOM Systems Inc. bought a new position in shares of SkyWater Technology in the fourth quarter valued at approximately $1,728,000. Finally, Baillie Gifford & Co. increased its position in shares of SkyWater Technology by 65.4% during the fourth quarter. Baillie Gifford & Co. now owns 1,665,284 shares of the company’s stock valued at $22,981,000 after acquiring an additional 658,431 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

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.