Insider Selling: SkyWater Technology, Inc. (NASDAQ:SKYT) Director Sells $29,396.40 in Stock

SkyWater Technology, Inc. (NASDAQ:SKYT) Director Loren A. Unterseher sold 3,144 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $9.35, for a total value of $29,396.40. Following the completion of the transaction, the director now directly owns 10,564,829 shares of the company’s stock, valued at approximately $98,781,151.15. This represents a 0.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

SkyWater Technology Stock Down 0.7%

Shares of NASDAQ:SKYT opened at $9.03 on Monday. 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 business has a fifty day moving average of $7.69 and a two-hundred day moving average of $9.32. The stock has a market cap of $433.76 million, a P/E ratio of -25.80 and a beta of 3.43. SkyWater Technology, Inc. has a 52-week low of $5.63 and a 52-week high of $19.00.

Wall Street Analyst Weigh In

Several research firms recently commented on SKYT. TD Cowen reduced their price objective 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 reduced their price objective on SkyWater Technology from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, May 8th.

Institutional Trading of SkyWater Technology

Large investors have recently added to or reduced their stakes in the stock. Summit Investment Advisors Inc. grew its holdings in SkyWater Technology by 64.1% in 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 in the last quarter. BNP Paribas Financial Markets purchased a new stake in SkyWater Technology in the 4th quarter valued at $50,000. GAMMA Investing LLC grew its holdings in shares of SkyWater Technology by 941.3% during the 1st quarter. GAMMA Investing LLC now owns 4,613 shares of the company’s stock worth $33,000 after purchasing an additional 4,170 shares during the period. CWM LLC grew its holdings in shares of SkyWater Technology by 320.2% during the 1st quarter. CWM LLC now owns 5,719 shares of the company’s stock worth $41,000 after purchasing an additional 4,358 shares during the period. Finally, BIT Capital GmbH purchased a new position in shares of SkyWater Technology during the 4th quarter worth $143,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

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.