SkyWater Technology, Inc. (NASDAQ:SKYT) Director Sells $104,164.84 in Stock

SkyWater Technology, Inc. (NASDAQ:SKYT) Director Gregory B. Graves sold 12,844 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was 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 $115,851.35. The trade was a 47.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

SkyWater Technology Price Performance

NASDAQ SKYT traded up $0.27 on Monday, reaching $8.42. The company’s stock had a trading volume of 557,009 shares, compared to its average volume of 534,812. SkyWater Technology, Inc. has a twelve month low of $5.63 and a twelve month high of $19.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 0.87. The firm’s 50 day moving average is $10.17 and its two-hundred day moving average is $9.96. The stock has a market cap of $401.26 million, a PE ratio of -24.06 and a beta of 3.38.

SkyWater Technology (NASDAQ:SKYT) last issued its earnings results on Wednesday, February 26th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.10. The firm had revenue of $75.49 million during the quarter, compared to analysts’ expectations of $74.25 million. SkyWater Technology had a negative net margin of 4.75% and a negative return on equity of 12.40%. As a group, sell-side analysts predict that SkyWater Technology, Inc. will post -0.22 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On SkyWater Technology

A number of hedge funds have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of SkyWater Technology in the third quarter worth approximately $202,000. Charles Schwab Investment Management Inc. grew its position in SkyWater Technology by 20.8% during the 3rd 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 3rd quarter worth approximately $120,000. Point72 Asset Management L.P. acquired a new stake in SkyWater Technology during the 3rd quarter valued at $222,000. Finally, Quarry LP purchased a new stake in shares of SkyWater Technology in the third quarter valued at $35,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

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.