MINNEAPOLIS—SkyWater Technology, Inc (NASDAQ:SKYT), a semiconductor manufacturer with a market capitalization of $437 million and notably volatile stock movements, saw significant share sales by Director Loren A. Unterseher, as disclosed in a recent SEC filing. The transactions, completed over three days, amounted to a total of $1,923,118.
On December 6, Unterseher sold 100,000 shares at an average price of $9.3774, with sale prices ranging between $9.00 and $9.74 per share. This transaction reduced his holdings to 12,919,620 shares. According to InvestingPro, the stock has shown significant price volatility, with a beta of 3.72, making it more than three times as volatile as the broader market.
The selling continued on December 9, with 61,299 shares sold at an average price of $9.3839, within a range of $9.25 to $10.00 per share. Following this transaction, Unterseher's stake decreased to 12,858,321 shares.
Finally, on December 10, 44,296 shares were sold at an average price of $9.2594, with prices ranging from $9.25 to $9.30 per share. After this sale, Unterseher holds 12,814,025 shares.
These transactions reflect a strategic move by Unterseher, a significant shareholder and director at SkyWater Technology, a semiconductor manufacturer based in Bloomington, Minnesota.
In other recent news, SkyWater Technology has reported a record Q3 2024 revenue of $94 million, along with a positive non-GAAP earnings per share of $0.08. The company expects Q4 revenues to range between $72 million and $76 million, forecasting an 18% to 20% revenue growth for the full year of 2024. SkyWater has signed a preliminary memorandum of terms with the CHIPS for America program, potentially securing up to $16 million in federal funding and $19 million from the State of Minnesota's Forward Fund. This funding aims to bolster production at its Minnesota facility and increase the company's 200 mm semiconductor technology production capacity by an estimated 30%. Additionally, SkyWater has extended its loan and security agreement with Siena Lending Group LLC, increasing the facility amount from $100 million to $130 million and extending the maturity date to December 31, 2028. The company has also announced a multiyear supply agreement with NanoDx, which is expected to drive future growth. These are recent developments that have shaped the company's financial trajectory.
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