Key Points
- CFO Steve Manko sold 91,109 shares on March 16 at an average price of $27.84, generating about $2.54 million and reducing his stake by 29.75% to 215,166 shares (valued ≈ $5.99M).
- SkyWater reported for the quarter, missing consensus by $0.02 while revenue of $171.04M beat expectations and rose 13.5% year-over-year; analysts hold a consensus rating of "Reduce" with a $32 price target.
- The stock has a market cap of about $1.31 billion, a 12-month range of $5.67–$36.27 and a high beta (3.52), indicating elevated volatility, while institutions own roughly 70% of the shares.
SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) CFO Steve Manko sold 91,109 shares of SkyWater Technology stock in a transaction on Monday, March 16th. The shares were sold at an average price of $27.84, for a total value of $2,536,474.56. Following the completion of the transaction, the chief financial officer owned 215,166 shares in the company, valued at $5,990,221.44. The trade was a 29.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
SkyWater Technology Price Performance
SKYT stock opened at $27.36 on Thursday. The stock has a 50-day moving average price of $30.02 and a two-hundred day moving average price of $21.35. SkyWater Technology, Inc. has a 12-month low of $5.67 and a 12-month high of $36.27. The company has a current ratio of 0.60, a quick ratio of 0.52 and a debt-to-equity ratio of 0.17. The company has a market cap of $1.31 billion, a PE ratio of 11.26 and a beta of 3.52.
SkyWater Technology (NASDAQ:SKYT - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.02). The firm had revenue of $171.04 million during the quarter, compared to analysts' expectations of $160.05 million. SkyWater Technology had a negative return on equity of 6.89% and a net margin of 26.90%.The business's revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.04 earnings per share. As a group, research analysts predict that SkyWater Technology, Inc. will post -0.22 EPS for the current year.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the stock. Zacks Research cut shares of SkyWater Technology from a "hold" rating to a "strong sell" rating in a research report on Wednesday, March 4th. Piper Sandler lowered shares of SkyWater Technology from an "overweight" rating to a "neutral" rating and increased their price objective for the stock from $17.00 to $35.00 in a research report on Monday, January 26th. Weiss Ratings reissued a "sell (e+)" rating on shares of SkyWater Technology in a research note on Monday, December 29th. Stifel Nicolaus set a $35.00 target price on shares of SkyWater Technology in a report on Monday, January 26th. Finally, TD Cowen cut shares of SkyWater Technology from a "buy" rating to a "hold" rating and upped their price target for the stock from $24.00 to $35.00 in a research report on Tuesday, January 27th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, SkyWater Technology has a consensus rating of "Reduce" and a consensus price target of $32.00.
Get Our Latest Report on SkyWater Technology
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Inspire Investing LLC lifted its holdings in SkyWater Technology by 2.5% during the 4th quarter. Inspire Investing LLC now owns 25,460 shares of the company's stock worth $462,000 after buying an additional 612 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of SkyWater Technology by 56.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company's stock valued at $27,000 after acquiring an additional 991 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of SkyWater Technology by 10.7% during the 3rd quarter. NewEdge Advisors LLC now owns 10,350 shares of the company's stock valued at $193,000 after acquiring an additional 1,000 shares in the last quarter. Quarry LP acquired a new stake in shares of SkyWater Technology during the 4th quarter valued at approximately $25,000. Finally, State of Wyoming bought a new position in SkyWater Technology during the fourth quarter worth $35,000. Hedge funds and other institutional investors own 70.00% of the company's stock.
SkyWater Technology Company Profile
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Get Free Report)
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.
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