Loren A. Unterseher Sells 200,000 Shares of SkyWater Technology, Inc. (NASDAQ:SKYT) Stock

SkyWater Technology, Inc. (NASDAQ:SKYT – Get Rating) Director Loren A. Unterseher sold 200,000 shares of SkyWater Technology stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $11.69, for a total value of $2,338,000.00. Following the completion of the transaction, the director now directly owns 19,760,289 shares of the company’s stock, valued at $230,997,778.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

SkyWater Technology Stock Performance

Shares of NASDAQ:SKYT opened at $10.97 on Friday. The stock has a market capitalization of $456.57 million, a P/E ratio of -11.19 and a beta of 4.78. SkyWater Technology, Inc. has a 1-year low of $4.43 and a 1-year 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 business has a 50-day moving average price of $11.59 and a two-hundred day moving average price of $9.75.

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

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC lifted their price target on SkyWater Technology from $20.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, February 14th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, SkyWater Technology presently has an average rating of “Buy” and an average price target of $19.40.

Hedge Funds Weigh In On SkyWater Technology

Several institutional investors have recently modified their holdings of SKYT. Tower Research Capital LLC TRC grew its position in shares of SkyWater Technology by 47.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,736 shares of the company’s stock worth $29,000 after buying an additional 1,201 shares during the period. American International Group Inc. grew its position in shares of SkyWater Technology by 26.2% during the 2nd quarter. American International Group Inc. now owns 5,061 shares of the company’s stock worth $30,000 after buying an additional 1,051 shares during the period. Advisor Group Holdings Inc. grew its position in shares of SkyWater Technology by 48.3% during the 4th quarter. Advisor Group Holdings Inc. now owns 4,879 shares of the company’s stock worth $34,000 after buying an additional 1,590 shares during the period. JPMorgan Chase & Co. grew its position in shares of SkyWater Technology by 50.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,781 shares of the company’s stock worth $35,000 after buying an additional 1,950 shares during the period. Finally, Royal Bank of Canada grew its position in shares of SkyWater Technology by 200.6% during the 3rd quarter. Royal Bank of Canada now owns 4,903 shares of the company’s stock worth $37,000 after buying an additional 3,272 shares during the period. 10.18% of the stock is currently owned by institutional investors and hedge funds.

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.