Insider Selling: SkyWater Technology, Inc. (NASDAQ:SKYT) Director Sells 12,844 Shares of Stock

SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) Director Gregory B. Graves sold 12,844 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $8.11, for a total transaction of $104,164.84. Following the transaction, the director now owns 14,285 shares in the company, valued at $115,851.35. The trade was a 47.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

SkyWater Technology Trading Down 0.1 %

SKYT stock traded down $0.01 on Friday, reaching $7.87. The company's stock had a trading volume of 305,015 shares, compared to its average volume of 538,972. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 0.87. The firm has a market cap of $377.48 million, a PE ratio of -22.54 and a beta of 3.38. The business has a fifty day simple moving average of $9.71 and a two-hundred day simple moving average of $9.92. SkyWater Technology, Inc. has a 12-month low of $5.63 and a 12-month high of $19.00.

SkyWater Technology (NASDAQ:SKYT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.10. SkyWater Technology had a negative return on equity of 12.40% and a negative net margin of 4.75%. The business had revenue of $75.49 million during the quarter, compared to analyst estimates of $74.25 million. As a group, research analysts forecast that SkyWater Technology, Inc. will post -0.22 EPS for the current year.

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Hedge Funds Weigh In On SkyWater Technology

Institutional investors and hedge funds have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. bought a new stake in SkyWater Technology in the 3rd quarter worth about $202,000. Charles Schwab Investment Management Inc. boosted its position in SkyWater Technology by 20.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 199,318 shares of the company's stock worth $1,810,000 after purchasing an additional 34,383 shares during the last quarter. Quantbot Technologies LP purchased a new position in SkyWater Technology in the third quarter worth about $120,000. Point72 Asset Management L.P. purchased a new position in shares of SkyWater Technology during the 3rd quarter valued at about $222,000. Finally, Quarry LP purchased a new position in shares of SkyWater Technology during the 3rd quarter valued at about $35,000. 70.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Needham & Company LLC reissued a "buy" rating and set a $12.00 price objective on shares of SkyWater Technology in a research note on Thursday, February 27th.

About SkyWater Technology

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.