Steve Manko Sells 75,000 Shares of SkyWater Technology (NASDAQ:SKYT) Stock

SkyWater Technology, Inc. (NASDAQ:SKYT) CFO Steve Manko sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $35.08, for a total value of $2,631,000.00. Following the completion of the sale, the chief financial officer directly owned 96,567 shares of the company’s stock, valued at approximately $3,387,570.36. The trade was a 43.71% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, April 14th, Steve Manko sold 84,215 shares of SkyWater Technology stock. The shares were sold at an average price of $30.41, for a total value of $2,560,978.15.
• On Monday, March 16th, Steve Manko sold 91,109 shares of SkyWater Technology stock. The shares were sold at an average price of $27.84, for a total value of $2,536,474.56.

SkyWater Technology Trading Up 2.6%

Shares of NASDAQ SKYT opened at $35.82 on Friday. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 14.74 and a beta of 3.30. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.52 and a current ratio of 0.51. The business has a 50 day simple moving average of $30.32 and a 200 day simple moving average of $25.72. SkyWater Technology, Inc. has a 52 week low of $7.72 and a 52 week high of $36.38.

SkyWater Technology (NASDAQ:SKYT) last announced its earnings results on Wednesday, May 20th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.17). The company had revenue of $160.69 million for the quarter, compared to the consensus estimate of $146.07 million. SkyWater Technology had a negative return on equity of 9.03% and a net margin of 21.04%. On average, research analysts predict that SkyWater Technology, Inc. will post -0.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Inspire Investing LLC lifted its holdings in shares of SkyWater Technology by 2.5% during the fourth quarter. Inspire Investing LLC now owns 25,460 shares of the company’s stock worth $462,000 after buying an additional 612 shares during the last quarter. KBC Group NV acquired a new position in shares of SkyWater Technology during the first quarter worth approximately $27,000. BNP Paribas Financial Markets lifted its holdings in shares of SkyWater Technology by 56.4% during the second quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company’s stock worth $27,000 after buying an additional 991 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of SkyWater Technology by 10.7% during the third quarter. NewEdge Advisors LLC now owns 10,350 shares of the company’s stock worth $193,000 after buying an additional 1,000 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of SkyWater Technology during the fourth quarter worth approximately $25,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SKYT has been the subject of a number of recent analyst reports. Needham & Company LLC cut SkyWater Technology from a “buy” rating to a “hold” rating in a research report on Monday, January 26th. Stifel Nicolaus set a $35.00 target price on SkyWater Technology in a research report on Monday, January 26th. Zacks Research raised SkyWater Technology from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SkyWater Technology in a research report on Friday, March 27th. Finally, Craig Hallum cut SkyWater Technology from a “buy” rating to a “hold” rating and set a $35.00 target price for the company. in a research report on Tuesday, January 27th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $32.00.

About SkyWater Technology

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.