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

SkyWater Technology, Inc. (NASDAQ:SKYT) CFO Steve Manko sold 75,000 shares of SkyWater Technology stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $35.08, for a total transaction of $2,631,000.00. Following the sale, the chief financial officer directly owned 96,567 shares in the company, valued at $3,387,570.36. This trade represents a 43.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 shares were 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 shares were sold at an average price of $27.84, for a total transaction of $2,536,474.56.

SkyWater Technology Price Performance

Shares of SkyWater Technology stock traded down $0.69 during midday trading on Wednesday, hitting $34.90. 1,635,365 shares of the company traded hands, compared to its average volume of 1,811,986. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 14.36 and a beta of 3.30. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.52 and a current ratio of 0.51. The firm’s fifty day moving average price is $30.10 and its 200-day moving average price is $25.46. SkyWater Technology, Inc. has a 12 month low of $7.72 and a 12 month high of $36.27.

SkyWater Technology (NASDAQ:SKYT) last announced its quarterly earnings results 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 the consensus estimate of $160.05 million. SkyWater Technology had a net margin of 21.04% and a negative return on equity of 9.03%. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period last year, the firm posted $0.04 earnings per share. As a group, sell-side analysts forecast that SkyWater Technology, Inc. will post -0.42 earnings per share for the current year.

Institutional Investors Weigh In On SkyWater Technology

Institutional investors have recently modified their holdings of the company. KBC Group NV bought a new stake in shares of SkyWater Technology in the 1st quarter valued at $27,000. Quarry LP bought a new stake in shares of SkyWater Technology in the 4th quarter valued at $25,000. State of Wyoming bought a new stake in shares of SkyWater Technology in the 4th quarter valued at $35,000. Russell Investments Group Ltd. boosted its stake in shares of SkyWater Technology by 814.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,468 shares of the company’s stock valued at $46,000 after purchasing an additional 2,198 shares during the last quarter. Finally, Federated Hermes Inc. bought a new stake in shares of SkyWater Technology in the 2nd quarter valued at $25,000. 70.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on SKYT. Stifel Nicolaus set a $35.00 target price on shares of SkyWater Technology in a report on Monday, January 26th. Zacks Research raised shares of SkyWater Technology from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. TD Cowen lowered shares of SkyWater Technology from a “buy” rating to a “hold” rating and boosted their target price for the stock from $24.00 to $35.00 in a report on Tuesday, January 27th. Needham & Company LLC lowered shares of SkyWater Technology from a “buy” rating to a “hold” rating in a report on Monday, January 26th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of SkyWater Technology in a report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, SkyWater Technology presently has a consensus rating of “Hold” and a consensus target price of $32.00.

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.