Bart L. Zibrowski Sells 85,000 Shares of SkyWater Technology, Inc. (NASDAQ:SKYT) Stock

SkyWater Technology, Inc. (NASDAQ:SKYT – Get Rating) major shareholder Bart L. Zibrowski sold 85,000 shares of the company’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $12.13, for a total transaction of $1,031,050.00. Following the completion of the sale, the insider now directly owns 4,754,540 shares in the company, valued at approximately $57,672,570.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

SkyWater Technology Trading Down 3.5 %

Shares of SKYT stock opened at $13.75 on Friday. SkyWater Technology, Inc. has a one year low of $4.43 and a one year high of $20.95. The company has a quick ratio of 0.89, a current ratio of 1.06 and a debt-to-equity ratio of 2.01. The company has a 50 day moving average price of $11.02 and a 200 day moving average price of $9.87.

SkyWater Technology (NASDAQ:SKYT – Get Rating) last issued its quarterly earnings results on Monday, February 13th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.10. SkyWater Technology had a negative net margin of 18.59% and a negative return on equity of 96.28%. The firm had revenue of $65.09 million during the quarter, compared to analyst estimates of $55.60 million. Analysts forecast that SkyWater Technology, Inc. will post -0.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on SKYT shares. Needham & Company LLC boosted their price objective on shares of SkyWater Technology from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, February 14th. Craig Hallum cut their price objective on shares of SkyWater Technology to $14.00 in a research report on Tuesday, November 15th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, SkyWater Technology presently has an average rating of “Buy” and an average target price of $19.40.

Institutional Investors Weigh In On SkyWater Technology

Several large investors have recently made changes to their positions in the business. American International Group Inc. increased its position in shares of SkyWater Technology by 26.2% in the second 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 in the last quarter. Tower Research Capital LLC TRC increased its position in shares of SkyWater Technology by 47.4% in the third quarter. Tower Research Capital LLC TRC now owns 3,736 shares of the company’s stock worth $29,000 after acquiring an additional 1,201 shares in the last quarter. Advisor Group Holdings Inc. boosted its stake in shares of SkyWater Technology by 48.3% in the fourth quarter. Advisor Group Holdings Inc. now owns 4,879 shares of the company’s stock valued at $34,000 after purchasing an additional 1,590 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of SkyWater Technology by 50.9% in the second quarter. JPMorgan Chase & Co. now owns 5,781 shares of the company’s stock valued at $35,000 after purchasing an additional 1,950 shares during the period. Finally, Royal Bank of Canada boosted its stake in shares of SkyWater Technology by 200.6% in the third quarter. Royal Bank of Canada now owns 4,903 shares of the company’s stock valued at $37,000 after purchasing an additional 3,272 shares during the period. Institutional investors and hedge funds own 10.18% of the company’s stock.

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.