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

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

SkyWater Technology Stock Performance

SkyWater Technology stock opened at $8.12 on Wednesday. The stock’s 50-day moving average is $9.89 and its 200-day moving average is $9.94. The company has a market cap of $386.97 million, a price-to-earnings ratio of -23.20 and a beta of 3.38. 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 12 month low of $5.63 and a 12 month high of $19.00.

SkyWater Technology (NASDAQ:SKYT) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.10. The company had revenue of $75.49 million for the quarter, compared to the consensus estimate of $74.25 million. SkyWater Technology had a negative return on equity of 12.40% and a negative net margin of 4.75%. Equities analysts anticipate that SkyWater Technology, Inc. will post -0.22 earnings per share for the current year.

Institutional Investors Weigh In On SkyWater Technology

A number of large investors have recently modified their holdings of the stock. Summit Investment Advisors Inc. grew its stake in shares of SkyWater Technology by 64.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,849 shares of the company’s stock valued at $39,000 after buying an additional 1,113 shares in the last quarter. Ellevest Inc. grew its stake in shares of SkyWater Technology by 15.0% in the fourth quarter. Ellevest Inc. now owns 15,996 shares of the company’s stock valued at $221,000 after buying an additional 2,090 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of SkyWater Technology by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 74,321 shares of the company’s stock valued at $1,026,000 after buying an additional 3,170 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of SkyWater Technology by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 202,639 shares of the company’s stock valued at $2,796,000 after buying an additional 3,321 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in shares of SkyWater Technology in the fourth quarter valued at about $50,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

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

SkyWater Technology Company Profile

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.