Insider Selling: SkyWater Technology, Inc. (NASDAQ:SKYT) CRO Sells 5,000 Shares of Stock

SkyWater Technology, Inc. (NASDAQ:SKYT – Get Rating) CRO Mark Litecky sold 5,000 shares of the business’s stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $13.70, for a total transaction of $68,500.00. Following the sale, the executive now owns 405,142 shares of the company’s stock, valued at approximately $5,550,445.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Mark Litecky also recently made the following trade(s):

• On Friday, March 3rd, Mark Litecky sold 6,835 shares of SkyWater Technology stock. The stock was sold at an average price of $12.66, for a total transaction of $86,531.10.
• On Tuesday, February 28th, Mark Litecky sold 2,000 shares of SkyWater Technology stock. The stock was sold at an average price of $13.20, for a total transaction of $26,400.00.
• On Thursday, February 23rd, Mark Litecky sold 4,000 shares of SkyWater Technology stock. The stock was sold at an average price of $13.35, for a total transaction of $53,400.00.

SkyWater Technology Price Performance

Shares of NASDAQ SKYT opened at $12.43 on Tuesday. SkyWater Technology, Inc. has a twelve month low of $4.43 and a twelve month high of $20.95. The company has a current ratio of 1.06, a quick ratio of 0.89 and a debt-to-equity ratio of 2.01. The company has a market capitalization of $517.34 million, a price-to-earnings ratio of -12.68 and a beta of 4.78. The firm has a 50-day moving average of $11.24 and a two-hundred day moving average of $9.76.

SkyWater Technology (NASDAQ:SKYT – Get Rating) last issued its quarterly earnings results on Monday, February 13th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.10. SkyWater Technology had a negative net margin of 18.59% and a negative return on equity of 96.28%. The company had revenue of $65.09 million during the quarter, compared to the consensus estimate of $55.60 million. As a group, analysts expect that SkyWater Technology, Inc. will post -0.62 earnings per share for the current fiscal year.

Institutional Trading of SkyWater Technology

Hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its position in shares of SkyWater Technology by 47.4% in the third quarter. Tower Research Capital LLC TRC now owns 3,736 shares of the company’s stock worth $29,000 after purchasing an additional 1,201 shares in the last quarter. American International Group Inc. lifted its position in shares of SkyWater Technology by 26.2% in the second quarter. American International Group Inc. now owns 5,061 shares of the company’s stock worth $30,000 after purchasing an additional 1,051 shares in the last quarter. Advisor Group Holdings Inc. lifted its position in shares of SkyWater Technology by 48.3% in the fourth quarter. Advisor Group Holdings Inc. now owns 4,879 shares of the company’s stock worth $34,000 after purchasing an additional 1,590 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of SkyWater Technology by 50.9% in the second quarter. JPMorgan Chase & Co. now owns 5,781 shares of the company’s stock worth $35,000 after purchasing an additional 1,950 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in shares of SkyWater Technology by 200.6% in the third quarter. Royal Bank of Canada now owns 4,903 shares of the company’s stock worth $37,000 after purchasing an additional 3,272 shares in the last quarter. 10.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on SKYT. Needham & Company LLC upped their price target on shares of SkyWater Technology from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, February 14th. Craig Hallum decreased their target price on shares of SkyWater Technology to $14.00 in a research report on Tuesday, November 15th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $19.40.

About SkyWater Technology

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SkyWater Technology, Inc, together with its subsidiaries, provides semiconductor development and manufacturing services. 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, power discrete, microelectromechanical systems, and rad-hard integrated circuits.