SkyWater Technology (NASDAQ:SKYT) Shares Gap Down Following Insider Selling

SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) gapped down prior to trading on Wednesday after an insider sold shares in the company. The stock had previously closed at $18.66, but opened at $18.07. SkyWater Technology shares last traded at $19.06, with a volume of 141,468 shares.

• Big Rallies Brewing? 3 Analyst Favorites to Watch Closely

Specifically, Director Loren A. Unterseher sold 120,370 shares of the firm's stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $18.02, for a total value of $2,169,067.40. Following the completion of the sale, the director owned 6,811,256 shares of the company's stock, valued at $122,738,833.12. This trade represents a 1.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Steve Manko sold 60,829 shares of the stock in a transaction on Friday, September 26th. The shares were sold at an average price of $17.40, for a total value of $1,058,424.60. Following the completion of the transaction, the chief financial officer owned 327,122 shares in the company, valued at $5,691,922.80. The trade was a 15.68% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

SKYT has been the subject of a number of research reports. Needham & Company LLC lifted their price objective on SkyWater Technology from $11.00 to $15.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Wall Street Zen upgraded shares of SkyWater Technology from a "sell" rating to a "hold" rating in a report on Friday, September 5th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $13.00.

• Quantum Opportunity: Skywater Technology's Long-Term Potential

Check Out Our Latest Analysis on SkyWater Technology

SkyWater Technology Stock Performance

The stock has a market cap of $915.95 million, a P/E ratio of -55.92 and a beta of 3.41. The stock has a fifty day simple moving average of $11.93 and a 200-day simple moving average of $9.63. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.97 and a current ratio of 1.06.

Institutional Trading of SkyWater Technology

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ameriprise Financial Inc. acquired a new stake in shares of SkyWater Technology in the 4th quarter valued at approximately $191,000. BNP Paribas Financial Markets bought a new position in shares of SkyWater Technology in the 4th quarter valued at about $50,000. Bank of America Corp DE increased its stake in shares of SkyWater Technology by 394.2% during the 4th quarter. Bank of America Corp DE now owns 163,645 shares of the company's stock worth $2,258,000 after purchasing an additional 130,529 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of SkyWater Technology by 7,282.8% in the 1st quarter. GAMMA Investing LLC now owns 32,706 shares of the company's stock valued at $232,000 after purchasing an additional 32,263 shares during the period. Finally, Rhumbline Advisers lifted its stake in SkyWater Technology by 8.0% in the 1st quarter. Rhumbline Advisers now owns 37,397 shares of the company's stock valued at $265,000 after purchasing an additional 2,783 shares during the last quarter. 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.

Featured Articles

• Five stocks we like better than SkyWater Technology
• How to Invest in the FAANG Stocks
• Is Intuitive Surgical the Hidden Winner in Healthcare’s Weakness?
• Why Special Dividends Can be a Delightful Surprise for Income Investors
• Lithium Americas Stock Exploded Last Week—Here’s Why
• How to Plot Fibonacci Price Inflection Levels
• Why Amazon’s Latest Upgrade Might Be Its Most Important Yet

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in SkyWater Technology Right Now?

Before you consider SkyWater Technology, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and SkyWater Technology wasn't on the list.

While SkyWater Technology currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here