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

SkyWater Technology, Inc. (NASDAQ:SKYT) CFO Steve Manko sold 75,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $35.08, for a total transaction of $2,631,000.00. Following the completion of the sale, the chief financial officer owned 96,567 shares in the company, valued at approximately $3,387,570.36. This trade represents a 43.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 stock was sold at an average price of $30.41, for a total transaction of $2,560,978.15.
• On Monday, March 16th, Steve Manko sold 91,109 shares of SkyWater Technology stock. The stock was sold at an average price of $27.84, for a total transaction of $2,536,474.56.

SkyWater Technology Price Performance

NASDAQ SKYT opened at $34.90 on Thursday. The stock’s 50-day moving average price is $30.20 and its two-hundred day moving average price is $25.59. The company has a current ratio of 0.51, a quick ratio of 0.52 and a debt-to-equity ratio of 0.17. The company has a market cap of $1.72 billion, a PE ratio of 14.36 and a beta of 3.30. SkyWater Technology, Inc. has a 1 year low of $7.72 and a 1 year high of $36.27.

SkyWater Technology (NASDAQ:SKYT) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.02). The company had revenue of $171.04 million for the quarter, compared to analyst estimates of $160.05 million. SkyWater Technology had a negative return on equity of 9.03% and a net margin of 21.04%.SkyWater Technology’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.04 EPS. On average, analysts predict that SkyWater Technology, Inc. will post -0.42 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on SKYT shares. Weiss Ratings restated a “sell (e+)” rating on shares of SkyWater Technology in a report on Friday, March 27th. TD Cowen downgraded SkyWater Technology from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $24.00 to $35.00 in a report on Tuesday, January 27th. Stifel Nicolaus set a $35.00 price objective on SkyWater Technology in a report on Monday, January 26th. Zacks Research upgraded SkyWater Technology from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Finally, Needham & Company LLC downgraded SkyWater Technology from a “buy” rating to a “hold” rating in a report on Monday, January 26th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.00.

Hedge Funds Weigh In On SkyWater Technology

Institutional investors and hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. grew its stake in SkyWater Technology by 13,712.9% during the 3rd quarter. Federated Hermes Inc. now owns 347,119 shares of the company’s stock valued at $6,477,000 after acquiring an additional 344,606 shares in the last quarter. Pier Capital LLC bought a new stake in shares of SkyWater Technology in the 4th quarter valued at approximately $3,365,000. Quantbot Technologies LP grew its stake in shares of SkyWater Technology by 44,565.1% in the 3rd quarter. Quantbot Technologies LP now owns 94,690 shares of the company’s stock valued at $1,767,000 after buying an additional 94,478 shares in the last quarter. Perkins Capital Management Inc. grew its stake in shares of SkyWater Technology by 86.4% in the 3rd quarter. Perkins Capital Management Inc. now owns 170,050 shares of the company’s stock valued at $3,173,000 after buying an additional 78,800 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new stake in shares of SkyWater Technology in the 3rd quarter valued at approximately $752,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

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.