SkyWater CFO Sells $2.5 Million in Stock as Revenue Hits Record $442 Million
Key Points
The CFO of SkyWater Technology disclosed selling 91,109 shares of the firm for approximately $2.54 million on March 16, 2026, at a weighted average price of around $27.84 per share.
This transaction accounted for 29.75% of Manko's direct common stock holdings, as reported in the filing, at the time, and reduced his direct position to 215,166 shares.
The sale resulted from the exercise of options, with all shares transacted held directly and no involvement from indirect entities.
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Steve Manko, CFO of SkyWater Technology (NASDAQ:SKYT), reported the sale of 91,109 shares of Common Stock for a transaction value of approximately $2.54 million on March 16, 2026, as disclosed in a SEC Form 4 filing.
Transaction summary
| Metric | Value |
|---|---|
| Shares sold (direct) | 91,109 |
| Transaction value | $2.5 million |
| Post-transaction shares (direct) | 215,166 |
| Post-transaction value (direct ownership) | ~$6.0 million |
Transaction value based on SEC Form 4 weighted average purchase price ($27.84); post-transaction value based on March 16, 2026, market close ($27.86).
Key questions
- How did the size of this sale compare to prior sell transactions by Steve Manko?
This 91,109-share sale exceeded the recent-period median of 50,000 shares per sell trade, with a higher proportion of holdings (29.75%) than the recent-period median of 14.03%. - What was the context and structure of the transaction?
The disposition resulted from the exercise of 9,708 options followed by immediate open-market sales. - Did this transaction involve indirect entities or only direct holdings?
All shares were held and sold directly by Manko, with no indirect or affiliated entity participation in this transaction. - What is the status of Manko's remaining equity exposure in SkyWater Technology?
Manko retains 215,166 directly held shares (worth approximately $6.0 million as of March 16, 2026), maintaining meaningful exposure through equity holdings.
Company overview
| Metric | Value |
|---|---|
| Price (as of market close March 16, 2026) | $27.84 |
| Market capitalization | $1.34 billion |
| Revenue (TTM) | $442.14 million |
| 1-year price change | 250.83% |
* 1-year performance calculated using March 16, 2026 as the reference date.
Company snapshot
- SkyWater Technology provides semiconductor development and manufacturing services, including engineering, process development, and silicon-based analog and mixed-signal integrated circuits.
- The firm operates a foundry business model, generating revenue through contract manufacturing and technology co-development for clients in high-reliability and specialized markets.
- It serves customers in computation, aerospace and defense, automotive, bio-health, consumer, and industrial/IoT sectors.
SkyWater Technology is a U.S.-based semiconductor foundry specializing in advanced process development and manufacturing for diverse end markets. The company leverages its engineering capabilities to co-create custom solutions with clients, targeting applications that require high reliability and specialized performance. SkyWater Technology's flexible business model and focus on innovation position it as a strategic partner for industries with demanding technology needs.
What this transaction means for investors
For long-term investors, the key question is whether SkyWater Technology can navigate the challenges of a capital-intensive, cyclical semiconductor industry while meeting rising expectations. Right now, they seem to be doing well. The company reported a record full-year revenue of $442.1 million for 2025, marking a 29% increase from the previous year, and they turned around to a net income of $118.9 million compared to last year's loss.
However, the latest quarter reveals some tension. Fourth-quarter revenue hit $171 million, but margins took a hit, with gross margins dropping to 14.9% due to higher tooling costs impacting profitability. This struggle between growth and margin pressure is central to the investment narrative.
With all this in mind, Steve Manko's recent sale appears more procedural than strategic. He executed the transaction under a prearranged 10b5-1 plan related to option exercises, not as a discretionary sale. Even after the sale, Manko still holds over 215,000 shares, valued at around $6 million, keeping a significant stake in the company. Ultimately, SkyWater’s potential for long-term growth relies on its ability to scale advanced services and manage recent capacity expansions without compromising margins, and insider selling related to compensation shouldn't overshadow the critical issue of whether the company can turn strong demand into lasting profitability.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends SkyWater Technology. The Motley Fool has a disclosure policy.
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