SkyWater Technology, Inc. (NASDAQ:SKYT) Director Gregory B. Graves Sells 12,844 Shares

SkyWater Technology, Inc. (NASDAQ:SKYT) Director Gregory B. Graves sold 12,844 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $8.11, for a total value of $104,164.84. Following the completion of the transaction, the director now owns 14,285 shares in the company, valued at $115,851.35. This represents a 47.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

SkyWater Technology Stock Up 3.3 %

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

SkyWater Technology (NASDAQ:SKYT) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.10. SkyWater Technology had a negative return on equity of 12.40% and a negative net margin of 4.75%. The business had revenue of $75.49 million during the quarter, compared to analysts’ expectations of $74.25 million. As a group, equities research analysts expect that SkyWater Technology, Inc. will post -0.22 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Baillie Gifford & Co. boosted its holdings in SkyWater Technology by 65.4% in the fourth quarter. Baillie Gifford & Co. now owns 1,665,284 shares of the company’s stock worth $22,981,000 after purchasing an additional 658,431 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in shares of SkyWater Technology by 414.5% during the 4th quarter. Nuveen Asset Management LLC now owns 277,962 shares of the company’s stock worth $3,836,000 after acquiring an additional 223,940 shares in the last quarter. Trexquant Investment LP increased its holdings in shares of SkyWater Technology by 169.7% during the 4th quarter. Trexquant Investment LP now owns 236,498 shares of the company’s stock valued at $3,264,000 after acquiring an additional 148,802 shares during the last quarter. Bank of America Corp DE raised its stake in shares of SkyWater Technology by 394.2% in the 4th quarter. Bank of America Corp DE now owns 163,645 shares of the company’s stock valued at $2,258,000 after acquiring an additional 130,529 shares in the last quarter. Finally, UNICOM Systems Inc. acquired a new stake in SkyWater Technology in the 4th quarter worth approximately $1,728,000. Institutional investors and hedge funds 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.