SkyWater Technology, Inc. Director Sells Shares

SkyWater Technology, Inc. (NASDAQ:SKYT) announced that Director Gregory B. Graves sold 12,844 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $8.11, culminating in a total transaction value of $104,164.84. After completing this sale, Graves now holds 14,285 shares in SkyWater, which have a combined value of approximately $115,851.35. This sale represents a significant 47.34% reduction in his ownership of the company's stock. The details of the transaction were officially filed with the Securities and Exchange Commission (SEC), and the filing can be accessed through a legal document.

SkyWater Technology recently saw its stock price fluctuate, trading up by $0.27 on a recent Monday to reach $8.42. The company experienced a trading volume of 557,009 shares, surpassing its average volume of 534,812 shares. For context, SkyWater has recorded a twelve-month low stock price of $5.63 and a high of $19.00. Financially, the firm has a debt-to-equity ratio of 0.53, a quick ratio of 0.78, and a current ratio of 0.87. Its 50-day moving average is $10.17, and the two-hundred-day moving average stands at $9.96. The company currently holds a market capitalization of $401.26 million, with a price-to-earnings (PE) ratio of -24.06 and a beta of 3.38.

Financial Performance

SkyWater Technology last released its earnings results on February 26th, where it reported earnings per share of $0.04 for the quarter. This figure surpasses analysts' expectations, which anticipated a loss of ($0.06) per share by $0.10. During the same quarter, the company generated revenues amounting to $75.49 million, which exceeded analysts' projections of $74.25 million. However, SkyWater noted a negative net margin of 4.75% and a negative return on equity of 12.40%. Looking forward, analysts predict that SkyWater Technology, Inc. will post an earnings per share of -0.22 for the current fiscal year.

Analyst Insights

A separate report from Needham & Company LLC affirmed a "buy" rating on SkyWater Technology shares, setting a target price of $12.00 in a research note released on February 27th.

Institutional Investments

Several hedge funds have also made recent adjustments to their positions in SkyWater Technology. Connor Clark & Lunn Investment Management Ltd. initiated a new stake in the company during the third quarter, valued at roughly $202,000. Meanwhile, Charles Schwab Investment Management Inc. boosted its holdings in SkyWater by 20.8% during the same period, now owning a total of 199,318 shares valued at approximately $1,810,000 after acquiring an additional 34,383 shares. Other notable transactions in the third quarter included Quantbot Technologies LP, which purchased a new position worth around $120,000, and Point72 Asset Management L.P., investing $222,000. Overall, institutional investors and hedge funds currently control about 70.00% of the stock.

Company Overview

SkyWater Technology, Inc., along with its subsidiaries, operates as a distinct technology foundry that specializes in offering semiconductor development, manufacturing, and packaging services within the United States. The company is dedicated to supplying engineering and process development support services to collaborate on technology creation with its clients, alongside semiconductor manufacturing for various silicon-based applications including analog and mixed-signal solutions, micro-electromechanical systems, and radiation-hardened integrated circuits.

SkyWater, Stock, Director