Insider Selling: SkyWater Technology, Inc. (NASDAQ:SKYT) CFO Sells $29,577.21 in Stock

Posted by Defense World Staff on Mar 6th, 2023

SkyWater Technology, Inc. (NASDAQ:SKYT – Get Rating) CFO Steve Manko sold 2,353 shares of the firm’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $12.57, for a total transaction of $29,577.21. Following the completion of the transaction, the chief financial officer now directly owns 393,139 shares of the company’s stock, valued at $4,941,757.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

SkyWater Technology Price Performance

Shares of SKYT opened at $12.70 on Monday. The business has a fifty day moving average of $10.52 and a 200 day moving average of $9.88. SkyWater Technology, Inc. has a 52-week low of $4.43 and a 52-week high of $20.95. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.89 and a current ratio of 1.06.

Institutional Trading of SkyWater Technology

Institutional investors have recently bought and sold shares of the stock. Fortem Financial Group LLC lifted its position in SkyWater Technology by 250.0% in the third quarter. Fortem Financial Group LLC now owns 140,000 shares of the company’s stock worth $1,071,000 after buying an additional 100,000 shares during the last quarter. TCG Advisory Services LLC bought a new stake in shares of SkyWater Technology during the second quarter worth $277,000. Goldman Sachs Group Inc. bought a new stake in shares of SkyWater Technology during the second quarter worth $83,000. Occudo Quantitative Strategies LP bought a new stake in shares of SkyWater Technology during the second quarter worth $133,000. Finally, Ronald Blue Trust Inc. bought a new stake in shares of SkyWater Technology during the second quarter worth $67,000. 10.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SKYT has been the subject of a number of recent research reports. Needham & Company LLC raised their target price on shares of SkyWater Technology from $20.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, February 14th. Craig Hallum cut their target price on shares of SkyWater Technology to $14.00 in a report on Tuesday, November 15th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $19.40.

SkyWater Technology Company Profile

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SkyWater Technology, Inc, together with its subsidiaries, provides semiconductor development and manufacturing services. 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, power discrete, microelectromechanical systems, and rad-hard integrated circuits.