Insider Selling: SkyWater Technology (NASDAQ:SKYT) Director Sells 5,684 Shares of Stock

SkyWater Technology, Inc. (NASDAQ:SKYT) Director Loren Unterseher sold 5,684 shares of the firm’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $11.51, for a total value of $65,422.84. Following the completion of the transaction, the director owned 9,589,576 shares in the company, valued at approximately $110,376,019.76. This trade represents a 0.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

SkyWater Technology Stock Up 4.6%

SkyWater Technology stock opened at $11.30 on Thursday. SkyWater Technology, Inc. has a one year low of $5.67 and a one year high of $19.00. The stock has a fifty day moving average of $10.26 and a 200 day moving average of $8.93. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.97 and a current ratio of 1.06. The stock has a market cap of $544.43 million, a PE ratio of -33.23 and a beta of 3.38.

Institutional Investors Weigh In On SkyWater Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its position in shares of 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 purchasing an additional 991 shares during the period. Summit Investment Advisors Inc. raised its position in shares of SkyWater Technology by 64.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,849 shares of the company’s stock valued at $39,000 after purchasing an additional 1,113 shares during the period. NewEdge Advisors LLC lifted its stake in shares of SkyWater Technology by 15.4% during the 2nd quarter. NewEdge Advisors LLC now owns 9,350 shares of the company’s stock valued at $92,000 after buying an additional 1,250 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of SkyWater Technology by 1.6% during the 1st quarter. Deutsche Bank AG now owns 84,977 shares of the company’s stock valued at $602,000 after buying an additional 1,372 shares in the last quarter. Finally, Ellevest Inc. boosted its holdings in 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 period. 70.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SKYT has been the topic of several recent research reports. Wall Street Zen cut shares of SkyWater Technology from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Needham & Company LLC upped their target price on shares of SkyWater Technology from $11.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Finally, TD Cowen decreased their price target on shares of SkyWater Technology from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, SkyWater Technology presently has a consensus 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.