Insider Selling: SkyWater Technology, Inc. (NASDAQ:SKYT) Director Sells 8,850 Shares of Stock

SkyWater Technology, Inc. (NASDAQ:SKYT) Director Nancy Fares sold 8,850 shares of SkyWater Technology stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $7.97, for a total value of $70,534.50. Following the sale, the director now owns 32,073 shares of the company’s stock, valued at approximately $255,621.81. The transaction was disclosed in a document filed with the SEC, which is available at this link.

SkyWater Technology Stock Performance

NASDAQ SKYT opened at $7.78 on Thursday. SkyWater Technology, Inc. has a 12 month low of $4.73 and a 12 month high of $12.97. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average of $8.63 and a 200-day moving average of $9.24.

SkyWater Technology (NASDAQ:SKYT) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The company had revenue of $79.64 million for the quarter, compared to analyst estimates of $80.00 million. SkyWater Technology had a negative return on equity of 32.59% and a negative net margin of 10.73%. On average, analysts anticipate that SkyWater Technology, Inc. will post -0.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Craig Hallum decreased their price target on shares of SkyWater Technology from $16.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Needham & Company LLC decreased their target price 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 9th. TD Cowen lifted their target price on shares of SkyWater Technology from $12.00 to $15.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. Finally, Piper Sandler raised their price objective on SkyWater Technology from $9.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th.

Hedge Funds Weigh In On SkyWater Technology

Hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. purchased a new position in SkyWater Technology in the fourth quarter valued at approximately $72,000. Federated Hermes Inc. increased its holdings in SkyWater Technology by 83.7% in the 3rd quarter. Federated Hermes Inc. now owns 80,000 shares of the company’s stock valued at $482,000 after purchasing an additional 36,443 shares in the last quarter. Barclays PLC raised its position in SkyWater Technology by 549.4% in the third quarter. Barclays PLC now owns 22,807 shares of the company’s stock valued at $137,000 after purchasing an additional 19,295 shares during the period. Kestra Advisory Services LLC lifted its stake in shares of SkyWater Technology by 127.0% during the third quarter. Kestra Advisory Services LLC now owns 37,800 shares of the company’s stock worth $228,000 after purchasing an additional 21,150 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of SkyWater Technology by 17.6% in the fourth quarter. Victory Capital Management Inc. now owns 94,800 shares of the company’s stock valued at $912,000 after buying an additional 14,163 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

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.