Insider Selling: SkyWater Technology, Inc. (NASDAQ:SKYT) Director Sells $635,736.80 in Stock

SkyWater Technology, Inc. (NASDAQ:SKYT) Director Loren A. Unterseher sold 67,345 shares of the company’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $9.44, for a total value of $635,736.80. Following the completion of the transaction, the director now owns 10,446,708 shares of the company’s stock, valued at $98,616,923.52. The trade was a 0.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

SkyWater Technology Trading Down 7.1%

NASDAQ SKYT opened at $8.19 on Friday. SkyWater Technology, Inc. has a 1-year low of $5.63 and a 1-year high of $19.00. The company has a current ratio of 0.87, a quick ratio of 0.78 and a debt-to-equity ratio of 0.53. The stock has a 50-day moving average of $7.95 and a 200-day moving average of $9.32. The firm has a market cap of $393.41 million, a PE ratio of -23.40 and a beta of 3.43.

Wall Street Analyst Weigh In

SKYT has been the subject of a number of recent research reports. TD Cowen lowered their target price on SkyWater Technology from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Needham & Company LLC lowered their target price on SkyWater Technology from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, May 8th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SKYT. Entropy Technologies LP bought a new position in SkyWater Technology during the 4th quarter valued at approximately $151,000. UNICOM Systems Inc. bought a new position in SkyWater Technology during the 4th quarter valued at approximately $1,728,000. Baillie Gifford & Co. raised its position in SkyWater Technology by 65.4% during the 4th quarter. Baillie Gifford & Co. now owns 1,665,284 shares of the company’s stock valued at $22,981,000 after purchasing an additional 658,431 shares during the last quarter. Bank of New York Mellon Corp raised its position in SkyWater Technology by 21.0% during the 4th quarter. Bank of New York Mellon Corp now owns 67,891 shares of the company’s stock valued at $937,000 after purchasing an additional 11,800 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in SkyWater Technology during the 4th quarter valued at approximately $1,096,000. Institutional investors own 70.00% of the company’s stock.

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.