SkyWater Technology, Inc. (NASDAQ:SKYT) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. cut its holdings in SkyWater Technology, Inc. (NASDAQ:SKYT) by 75.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,000 shares of the company’s stock after selling 60,000 shares during the quarter. Federated Hermes Inc.’s holdings in SkyWater Technology were worth $192,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC acquired a new stake in SkyWater Technology during the fourth quarter worth approximately $42,000. Blue Trust Inc. acquired a new stake in SkyWater Technology during the fourth quarter worth approximately $72,000. Kestra Private Wealth Services LLC acquired a new stake in SkyWater Technology during the third quarter worth approximately $72,000. Sherbrooke Park Advisers LLC acquired a new stake in SkyWater Technology during the third quarter worth approximately $72,000. Finally, Barclays PLC boosted its position in SkyWater Technology by 549.4% during the third quarter. Barclays PLC now owns 22,807 shares of the company’s stock worth $137,000 after acquiring an additional 19,295 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Activity

In other news, CEO Thomas Sonderman sold 18,989 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $10.01, for a total value of $190,079.89. Following the transaction, the chief executive officer now owns 498,413 shares of the company’s stock, valued at approximately $4,989,114.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Loren A. Unterseher sold 368,709 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $12.14, for a total value of $4,476,127.26. Following the transaction, the director now owns 13,022,293 shares of the company’s stock, valued at approximately $158,090,637.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Thomas Sonderman sold 18,989 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $10.01, for a total transaction of $190,079.89. Following the completion of the transaction, the chief executive officer now directly owns 498,413 shares in the company, valued at approximately $4,989,114.13. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 398,218 shares of company stock valued at $4,787,187. Company insiders own 42.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SKYT shares. Piper Sandler raised their target price on shares of SkyWater Technology from $9.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Needham & Company LLC raised their target price on shares of SkyWater Technology from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Finally, TD Cowen lifted their price target on shares of SkyWater Technology from $12.00 to $15.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th.

SkyWater Technology Stock Down 1.3 %

Shares of SKYT opened at $10.23 on Monday. The firm has a market cap of $484.29 million, a PE ratio of -15.27 and a beta of 4.18. The company’s fifty day moving average is $10.24 and its two-hundred day moving average is $8.75. SkyWater Technology, Inc. has a fifty-two week low of $4.73 and a fifty-two week high of $12.97. The company has a quick ratio of 0.91, a current ratio of 1.02 and a debt-to-equity ratio of 0.59.

SkyWater Technology (NASDAQ:SKYT) last announced its quarterly earnings results on Monday, February 26th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.12. The company had revenue of $79.15 million for the quarter, compared to analyst estimates of $74.90 million. SkyWater Technology had a negative net margin of 10.73% and a negative return on equity of 30.58%. Analysts forecast that SkyWater Technology, Inc. will post -0.05 earnings per share for the current year.

SkyWater Technology Company Profile

SkyWater Technology, Inc, together with its subsidiaries, operates as a pure-play technology foundry that engages in the provision of semiconductor development, manufacturing, and packaging services in the United States. The company offers engineering and process development support services to co-create technologies with customers; and semiconductor manufacturing services for various silicon-based analog and mixed-signal, micro-electromechanical systems, and rad-hard integrated circuits.