SkyWater Technology (NASDAQ:SKYT) CFO Steve Manko Sells 91,109 Shares of Stock

SkyWater Technology, Inc. (NASDAQ:SKYT) CFO Steve Manko sold 91,109 shares of SkyWater Technology stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $27.84, for a total value of $2,536,474.56. Following the transaction, the chief financial officer owned 215,166 shares of the company’s stock, valued at $5,990,221.44. This represents a 29.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

SkyWater Technology Price Performance

Shares of NASDAQ:SKYT opened at $27.36 on Thursday. The business’s fifty day moving average price is $30.02 and its two-hundred day moving average price is $21.35. The stock has a market cap of $1.31 billion, a PE ratio of 11.26 and a beta of 3.52. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.52 and a current ratio of 0.60. SkyWater Technology, Inc. has a one year low of $5.67 and a one year high of $36.27.

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

Institutional Investors Weigh In On SkyWater Technology

Hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC grew its holdings 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 purchasing an additional 165,865 shares during the period. Strs Ohio acquired a new position in SkyWater Technology during the first quarter worth approximately $173,000. Creative Planning raised its stake in SkyWater Technology by 69.7% during the second quarter. Creative Planning now owns 34,283 shares of the company’s stock worth $337,000 after purchasing an additional 14,085 shares during the period. Rhumbline Advisers boosted its holdings in shares of SkyWater Technology by 27.4% in the 2nd quarter. Rhumbline Advisers now owns 47,643 shares of the company’s stock valued at $469,000 after purchasing an additional 10,246 shares during the last quarter. Finally, American Century Companies Inc. acquired a new position in shares of SkyWater Technology in the 2nd quarter valued at $377,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Needham & Company LLC lowered shares of SkyWater Technology from a “buy” rating to a “hold” rating in a report on Monday, January 26th. Craig Hallum downgraded shares of SkyWater Technology from a “buy” rating to a “hold” rating and set a $35.00 price target for the company. in a report on Tuesday, January 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of SkyWater Technology in a report on Monday, December 29th. Stifel Nicolaus set a $35.00 price objective on shares of SkyWater Technology in a research report on Monday, January 26th. Finally, TD Cowen downgraded shares of SkyWater Technology from a “buy” rating to a “hold” rating and upped their price objective for the company from $24.00 to $35.00 in a research note on Tuesday, January 27th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price 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.