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 the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $7.97, for a total value of $70,534.50. Following the transaction, the director now directly owns 32,073 shares of the company’s stock, valued at $255,621.81. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

SkyWater Technology Trading Down 2.9 %

Shares of NASDAQ SKYT traded down $0.23 during mid-day trading on Tuesday, reaching $7.78. 468,455 shares of the company’s stock were exchanged, compared to its average volume of 439,329. The firm has a market capitalization of $368.38 million, a price-to-earnings ratio of -11.28 and a beta of 3.98. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.86 and a current ratio of 0.96. SkyWater Technology, Inc. has a 52-week low of $4.73 and a 52-week high of $12.97. The company’s 50-day moving average is $8.69 and its 200-day moving average is $9.23.

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Piper Sandler increased their price objective on SkyWater Technology from $9.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. Craig Hallum dropped their target price on SkyWater Technology from $16.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Needham & Company LLC dropped their target price on SkyWater Technology from $15.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Finally, TD Cowen upped their target price on SkyWater Technology from $12.00 to $15.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th.

Institutional Trading of SkyWater Technology

A number of institutional investors have recently modified their holdings of SKYT. Nisa Investment Advisors LLC acquired a new position in SkyWater Technology during the fourth quarter worth $42,000. Tower Research Capital LLC TRC boosted its stake in SkyWater Technology by 622.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,712 shares of the company’s stock worth $55,000 after buying an additional 4,921 shares during the last quarter. Blue Trust Inc. acquired a new stake in SkyWater Technology in the 4th quarter worth about $72,000. Sherbrooke Park Advisers LLC acquired a new position in shares of SkyWater Technology in the 3rd quarter valued at about $72,000. Finally, Arlington Capital Management Inc. acquired a new position in shares of SkyWater Technology in the 1st quarter valued at about $107,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

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.