SkyWater Technology (NASDAQ:SKYT) CFO Sells $2,631,000.00 in Stock

SkyWater Technology, Inc. (NASDAQ:SKYT) CFO Steve Manko sold 75,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $35.08, for a total transaction of $2,631,000.00. Following the transaction, the chief financial officer owned 96,567 shares in the company, valued at $3,387,570.36. The trade was a 43.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Steve Manko also recently made the following trade(s):

• On Tuesday, April 14th, Steve Manko sold 84,215 shares of SkyWater Technology stock. The shares were sold at an average price of $30.41, for a total transaction of $2,560,978.15.
• On Monday, March 16th, Steve Manko sold 91,109 shares of SkyWater Technology stock. The shares were sold at an average price of $27.84, for a total transaction of $2,536,474.56.

SkyWater Technology Stock Down 1.9%

Shares of SKYT stock traded down $0.69 on Wednesday, hitting $34.90. The stock had a trading volume of 1,635,365 shares, compared to its average volume of 1,811,986. The business has a 50 day moving average of $30.10 and a 200 day moving average of $25.46. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 14.36 and a beta of 3.30. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.51 and a quick ratio of 0.52. SkyWater Technology, Inc. has a 12-month low of $7.72 and a 12-month high of $36.27.

SkyWater Technology (NASDAQ:SKYT) last announced its earnings results on Wednesday, February 25th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.02). The firm had revenue of $171.04 million during the quarter, compared to analysts’ expectations of $160.05 million. SkyWater Technology had a net margin of 21.04% and a negative return on equity of 9.03%. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.04 EPS. As a group, analysts expect that SkyWater Technology, Inc. will post -0.42 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SKYT shares. Piper Sandler downgraded shares of SkyWater Technology from an “overweight” rating to a “neutral” rating and increased their target price for the company from $17.00 to $35.00 in a report on Monday, January 26th. TD Cowen downgraded shares of SkyWater Technology from a “buy” rating to a “hold” rating and raised their price objective for the stock from $24.00 to $35.00 in a report on Tuesday, January 27th. Stifel Nicolaus set a $35.00 price objective on shares of SkyWater Technology in a report on Monday, January 26th. Weiss Ratings restated a “sell (e+)” rating on shares of SkyWater Technology in a report on Friday, March 27th. Finally, Craig Hallum downgraded shares of SkyWater Technology from a “buy” rating to a “hold” rating and set a $35.00 price objective for the company. in a report on Tuesday, January 27th. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $32.00.

Institutional Investors Weigh In On SkyWater Technology

Hedge funds have recently bought and sold shares of the stock. Federated Hermes Inc. lifted its position in SkyWater Technology by 13,712.9% during the third quarter. Federated Hermes Inc. now owns 347,119 shares of the company’s stock valued at $6,477,000 after purchasing an additional 344,606 shares during the last quarter. Pier Capital LLC bought a new stake in SkyWater Technology during the fourth quarter valued at approximately $3,365,000. Quantbot Technologies LP lifted its position in SkyWater Technology by 44,565.1% during the third quarter. Quantbot Technologies LP now owns 94,690 shares of the company’s stock valued at $1,767,000 after purchasing an additional 94,478 shares during the last quarter. Perkins Capital Management Inc. lifted its position in SkyWater Technology by 86.4% during the third quarter. Perkins Capital Management Inc. now owns 170,050 shares of the company’s stock valued at $3,173,000 after purchasing an additional 78,800 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new stake in shares of SkyWater Technology in the 3rd quarter worth approximately $752,000. 70.00% of the stock is currently owned by institutional investors.

About SkyWater Technology

SkyWater Technology Solutions, Inc is a U.S.-based specialty semiconductor foundry headquartered in Bloomington, Minnesota. The company focuses on the development and manufacture of high-reliability integrated circuits using advanced processes on 200-millimeter wafers.

SkyWater’s service offerings span analog/mixed-signal, radio frequency (RF), micro-electromechanical systems (MEMS) and advanced packaging technologies. Its turnkey model includes multi-project wafer (MPW) runs, volume production, design enablement support and assembly and test services, enabling customers to take concepts from prototype to market.

Serving aerospace, defense, automotive, industrial, medical and communications sectors, SkyWater supports applications that demand rigorous performance, quality and traceability.