SkyWater Technology, Inc. (NASDAQ:SKYT – Get Free Report) gapped down before the market opened on Wednesday following insider selling activity. The stock had previously closed at $18.66, but opened at $18.07. SkyWater Technology shares last traded at $19.06, with a volume of 141,468 shares changing hands.
Specifically, Director Loren A. Unterseher sold 120,370 shares of the stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $18.02, for a total transaction of $2,169,067.40. Following the transaction, the director directly owned 6,811,256 shares in the company, valued at approximately $122,738,833.12. This trade represents a 1.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Steve Manko sold 60,829 shares of the stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $17.40, for a total transaction of $1,058,424.60. Following the sale, the chief financial officer directly owned 327,122 shares of the company’s stock, valued at $5,691,922.80. The trade was a 15.68% decrease in their position. The disclosure for this sale can be found here.
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Analyst Upgrades and Downgrades
SKYT has been the subject of a number of analyst reports. Wall Street Zen raised shares of SkyWater Technology from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. Needham & Company LLC increased their target price on shares of SkyWater Technology from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $13.00.
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SkyWater Technology Trading Up 2.5%
The stock’s fifty day simple moving average is $12.10 and its 200-day simple moving average is $9.69. The firm has a market cap of $921.20 million, a PE ratio of -56.23 and a beta of 3.51. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.06 and a quick ratio of 0.97.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in SKYT. Ameriprise Financial Inc. purchased a new position in shares of SkyWater Technology during the fourth quarter worth $191,000. BNP Paribas Financial Markets purchased a new position in shares of SkyWater Technology during the fourth quarter worth $50,000. GAMMA Investing LLC raised its holdings in shares of SkyWater Technology by 7,282.8% during the first quarter. GAMMA Investing LLC now owns 32,706 shares of the company’s stock worth $232,000 after purchasing an additional 32,263 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of SkyWater Technology by 8.0% during the first quarter. Rhumbline Advisers now owns 37,397 shares of the company’s stock worth $265,000 after purchasing an additional 2,783 shares during the last quarter. Finally, Strategic Blueprint LLC raised its holdings in shares of SkyWater Technology by 74.8% during the first quarter. Strategic Blueprint LLC now owns 26,610 shares of the company’s stock worth $189,000 after purchasing an additional 11,391 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.
SkyWater Technology Company Profile
(Get Free Report)
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.
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