Key Points
- SkyWater CFO Steve Manko sold 84,215 shares on April 14 at an average price of $30.41 for about $2.56M under a pre‑arranged Rule 10b5‑1 plan, leaving him with 171,567 shares (a 32.92% reduction); he also sold 91,109 shares on March 16.
- The company reported revenue of $171.04M (up 13.5% YoY) but missed EPS estimates, while the stock trades near $32.50 with a market cap of ~$1.6B; analysts’ consensus rating is Reduce with a $32 target.
SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) CFO Steve Manko sold 84,215 shares of the firm's stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $30.41, for a total value of $2,560,978.15. Following the sale, the chief financial officer directly owned 171,567 shares of the company's stock, valued at $5,217,352.47. This represents a 32.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 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 value of $2,536,474.56.
SkyWater Technology Trading Up 0.9%
SKYT stock opened at $32.53 on Friday. The business has a fifty day moving average price of $28.80 and a 200 day moving average price of $23.66. SkyWater Technology, Inc. has a fifty-two week low of $6.34 and a fifty-two week high of $36.27. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 13.39 and a beta of 3.47. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.60 and a quick ratio of 0.52.
SkyWater Technology (NASDAQ:SKYT - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.02). SkyWater Technology had a net margin of 26.90% and a negative return on equity of 6.89%. The business had revenue of $171.04 million for the quarter, compared to analyst estimates of $160.05 million. During the same period in the prior year, the business earned $0.04 earnings per share. The company's revenue for the quarter was up 13.5% on a year-over-year basis. Analysts expect that SkyWater Technology, Inc. will post -0.22 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in SkyWater Technology by 4.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,047,168 shares of the company's stock valued at $38,200,000 after buying an additional 94,948 shares during the last quarter. Ameriprise Financial Inc. boosted its position in SkyWater Technology by 9.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,846,355 shares of the company's stock valued at $34,453,000 after buying an additional 153,299 shares during the last quarter. Erste Asset Management GmbH boosted its position in shares of SkyWater Technology by 21.7% in the 3rd quarter. Erste Asset Management GmbH now owns 1,400,000 shares of the company's stock worth $25,508,000 after purchasing an additional 250,000 shares during the last quarter. State Street Corp grew its stake in shares of SkyWater Technology by 134.1% during the fourth quarter. State Street Corp now owns 1,210,673 shares of the company's stock worth $21,986,000 after purchasing an additional 693,470 shares during the period. Finally, Millennium Management LLC grew its stake in shares of SkyWater Technology by 3,396.4% during the third quarter. Millennium Management LLC now owns 775,364 shares of the company's stock worth $14,468,000 after purchasing an additional 753,188 shares during the period. 70.00% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on SKYT shares. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of SkyWater Technology in a report on Friday, March 27th. Craig Hallum lowered SkyWater Technology from a "buy" rating to a "hold" rating and set a $35.00 price objective on the stock. in a research report on Tuesday, January 27th. Stifel Nicolaus set a $35.00 price objective on SkyWater Technology in a research report on Monday, January 26th. Needham & Company LLC lowered SkyWater Technology from a "buy" rating to a "hold" rating in a research report on Monday, January 26th. Finally, TD Cowen lowered SkyWater Technology from a "buy" rating to a "hold" rating and increased their price objective for the company 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's stock. According to data from MarketBeat, SkyWater Technology presently has a consensus rating of "Reduce" and a consensus target price of $32.00.
Get Our Latest Stock Analysis on SkyWater Technology
About SkyWater Technology
(
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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