Insider Selling: SkyWater Technology, Inc. (NASDAQ:SKYT) CRO Sells 1,922 Shares of Stock

SkyWater Technology, Inc. (NASDAQ:SKYT – Get Rating) CRO Mark Litecky sold 1,922 shares of the company’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $9.29, for a total value of $17,855.38. Following the completion of the transaction, the executive now directly owns 422,623 shares in the company, valued at $3,926,167.67. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Thursday, March 9th, Mark Litecky sold 5,000 shares of SkyWater Technology stock. The stock was sold at an average price of $13.70, for a total value of $68,500.00.
• 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 value of $86,531.10.
• On Tuesday, February 28th, Mark Litecky sold 2,000 shares of SkyWater Technology stock. The shares were sold at an average price of $13.20, for a total value of $26,400.00.
• On Thursday, February 23rd, Mark Litecky sold 4,000 shares of SkyWater Technology stock. The shares were sold at an average price of $13.35, for a total value of $53,400.00.

SkyWater Technology Stock Performance

SKYT opened at $9.81 on Tuesday. The firm has a market capitalization of $435.41 million, a P/E ratio of -14.86 and a beta of 4.53. The stock’s 50 day moving average price is $10.45 and its two-hundred day moving average price is $10.11. The company has a quick ratio of 0.78, a current ratio of 0.88 and a debt-to-equity ratio of 0.65. SkyWater Technology, Inc. has a 12-month low of $4.43 and a 12-month high of $20.95.

SkyWater Technology (NASDAQ:SKYT – Get Rating) last released its earnings results on Monday, February 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.10. The firm had revenue of $65.09 million for the quarter, compared to analyst estimates of $55.60 million. SkyWater Technology had a negative return on equity of 63.50% and a negative net margin of 11.80%. On average, equities analysts forecast that SkyWater Technology, Inc. will post -0.62 earnings per share for the current year.

Institutional Trading of SkyWater Technology

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

Wall Street Analyst Weigh In

Separately, Needham & Company LLC increased their price objective on SkyWater Technology from $20.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, February 14th.

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.