SkyWater Technology (NASDAQ:SKYT) CFO Sells $2,560,978.15 in Stock

SkyWater Technology, Inc. (NASDAQ:SKYT) CFO Steve Manko sold 84,215 shares of the company’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $30.41, for a total value of $2,560,978.15. Following the completion of the sale, the chief financial officer owned 171,567 shares in the company, valued at $5,217,352.47. This trade represents a 32.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, March 16th, Steve Manko sold 91,109 shares of SkyWater Technology stock. The stock was sold at an average price of $27.84, for a total value of $2,536,474.56.

SkyWater Technology Price Performance

SkyWater Technology stock opened at $32.89 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.52 and a current ratio of 0.60. The firm has a market cap of $1.62 billion, a P/E ratio of 13.54 and a beta of 3.47. The business’s fifty day moving average is $28.85 and its two-hundred day moving average is $23.80. SkyWater Technology, Inc. has a 52 week low of $6.34 and a 52 week high of $36.27.

SkyWater Technology (NASDAQ:SKYT) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). The business had revenue of $171.04 million during the quarter, compared to analyst estimates of $160.05 million. SkyWater Technology had a negative return on equity of 6.89% and a net margin of 26.90%.SkyWater Technology’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.04 EPS. Equities research analysts forecast that SkyWater Technology, Inc. will post -0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SkyWater Technology

Several hedge funds have recently added to or reduced their stakes in SKYT. AQR Capital Management LLC lifted its stake in SkyWater Technology by 112.0% in the first quarter. AQR Capital Management LLC now owns 313,993 shares of the company’s stock valued at $2,226,000 after buying an additional 165,865 shares during the period. Strs Ohio acquired a new position in SkyWater Technology in the first quarter valued at about $173,000. Creative Planning lifted its stake in SkyWater Technology by 69.7% in the second quarter. Creative Planning now owns 34,283 shares of the company’s stock valued at $337,000 after buying an additional 14,085 shares during the period. Rhumbline Advisers lifted its stake in SkyWater Technology by 27.4% in the second quarter. Rhumbline Advisers now owns 47,643 shares of the company’s stock valued at $469,000 after buying an additional 10,246 shares during the period. Finally, American Century Companies Inc. acquired a new position in SkyWater Technology in the second quarter valued at about $377,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

SKYT has been the topic of several research reports. Zacks Research lowered SkyWater Technology from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 4th. Stifel Nicolaus set a $35.00 price target on SkyWater Technology in a research note on Monday, January 26th. TD Cowen lowered SkyWater Technology from a “buy” rating to a “hold” rating and upped their price target for the company from $24.00 to $35.00 in a research note on Tuesday, January 27th. Craig Hallum lowered SkyWater Technology from a “buy” rating to a “hold” rating and set a $35.00 price target on the stock. in a research note on Tuesday, January 27th. Finally, Piper Sandler lowered SkyWater Technology from an “overweight” rating to a “neutral” rating and upped their price target for the company from $17.00 to $35.00 in a research note on Monday, January 26th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, SkyWater Technology presently has a consensus rating of “Reduce” and an average price target of $32.00.

SkyWater Technology Company Profile

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.