Key Points
- SkyWater Technology CFO Steve Manko sold 75,000 shares on May 11 at an average price of $35.08, totaling about $2.63 million. The sale reduced his direct holdings by 43.71% and was made under a pre-arranged Rule 10b5-1 plan.
- This was not his first recent sale: Manko also sold 84,215 shares in April and 91,109 shares in March, indicating a steady pattern of insider selling over the past few months.
- SkyWater shares have been strong but analysts are cautious, with the stock near its 52-week high and trading above both its 50-day and 200-day moving averages. Still, the consensus analyst rating is only “Hold,” with an average price target of $32.00.
SkyWater Technology, Inc. (NASDAQ:SKYT - Get Free Report) CFO Steve Manko sold 75,000 shares of the business's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $35.08, for a total value of $2,631,000.00. Following the completion of the sale, the chief financial officer directly owned 96,567 shares of the company's stock, valued at approximately $3,387,570.36. The trade was a 43.71% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 value 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 value of $2,536,474.56.
SkyWater Technology Trading Down 1.9%
Shares of NASDAQ SKYT opened at $34.90 on Thursday. 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 business has a 50 day simple moving average of $30.20 and a 200 day simple moving average of $25.59. SkyWater Technology, Inc. has a 52 week low of $7.72 and a 52 week high of $36.27. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.52 and a current ratio of 0.51.
SkyWater Technology (NASDAQ:SKYT - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.02). The firm had revenue of $171.04 million during 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 quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.04 EPS. On average, research analysts predict that SkyWater Technology, Inc. will post -0.42 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the business. Sei Investments Co. acquired a new position in shares of SkyWater Technology during the first quarter worth approximately $222,000. KBC Group NV acquired a new position in shares of SkyWater Technology during the first quarter worth approximately $27,000. Swiss National Bank lifted its holdings in shares of SkyWater Technology by 26.1% during the first quarter. Swiss National Bank now owns 72,000 shares of the company's stock worth $1,974,000 after buying an additional 14,900 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of SkyWater Technology by 12.2% during the first quarter. Bank of New York Mellon Corp now owns 103,608 shares of the company's stock worth $2,840,000 after buying an additional 11,235 shares during the last quarter. Finally, Bleakley Financial Group LLC acquired a new position in shares of SkyWater Technology during the first quarter worth approximately $291,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
SKYT has been the subject of a number of recent analyst reports. Stifel Nicolaus set a $35.00 target price on SkyWater Technology in a research report on Monday, January 26th. TD Cowen cut SkyWater Technology from a "buy" rating to a "hold" rating and upped their target price for the stock from $24.00 to $35.00 in a research report on Tuesday, January 27th. Needham & Company LLC cut SkyWater Technology from a "buy" rating to a "hold" rating in a research report on Monday, January 26th. Zacks Research raised SkyWater Technology from a "strong sell" rating to a "hold" rating in a research report on Monday, April 27th. Finally, Craig Hallum cut SkyWater Technology from a "buy" rating to a "hold" rating and set a $35.00 target price for the company. in a research report on Tuesday, January 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $32.00.
Get Our Latest Analysis on SKYT
SkyWater Technology Company Profile
(
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.
Further Reading
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