SkyWater Technology, Inc. (NASDAQ:SKYT) Director Gregory B. Graves Sells 12,844 Shares

SkyWater Technology, Inc. (NASDAQ:SKYT) Director Gregory B. Graves sold 12,844 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $8.11, for a total value of $104,164.84. Following the sale, the director now owns 14,285 shares in the company, valued at approximately $115,851.35. The trade was a 47.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

SkyWater Technology Stock Up 3.3 %

Shares of SKYT opened at $8.42 on Tuesday. SkyWater Technology, Inc. has a 52 week low of $5.63 and a 52 week high of $19.00. The company has a quick ratio of 0.78, a current ratio of 0.87 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $401.26 million, a price-to-earnings ratio of -24.06 and a beta of 3.38. The stock’s 50-day moving average price is $10.03 and its 200-day moving average price is $9.95.

SkyWater Technology (NASDAQ:SKYT) last issued its earnings results on Wednesday, February 26th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $75.49 million for the quarter, compared to the consensus estimate of $74.25 million. On average, sell-side analysts predict that SkyWater Technology, Inc. will post -0.22 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reiterated a “buy” rating and set a $12.00 price target on shares of SkyWater Technology in a research note on Thursday, February 27th.

Institutional Trading of SkyWater Technology

A number of hedge funds have recently modified their holdings of SKYT. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of SkyWater Technology in the third quarter worth about $202,000. Charles Schwab Investment Management Inc. boosted its position in SkyWater Technology by 20.8% during 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 in the last quarter. Quantbot Technologies LP purchased a new position in SkyWater Technology during the third quarter worth approximately $120,000. Point72 Asset Management L.P. purchased a new position in SkyWater Technology during the third quarter worth approximately $222,000. Finally, Quarry LP purchased a new position in SkyWater Technology during the third quarter worth approximately $35,000. Hedge funds and other 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.