Franklin Resources Inc. Makes New $546,000 Investment in SkyWater Technology, Inc. (NASDAQ:SKYT)

Franklin Resources Inc. bought a new stake in SkyWater Technology, Inc. (NASDAQ:SKYT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 39,598 shares of the company’s stock, valued at approximately $546,000. Franklin Resources Inc. owned approximately 0.08% of SkyWater Technology at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its stake in SkyWater Technology by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 202,639 shares of the company’s stock valued at $2,796,000 after acquiring an additional 3,321 shares during the period. BIT Capital GmbH acquired a new stake in SkyWater Technology in the 4th quarter valued at $143,000. Entropy Technologies LP bought a new stake in SkyWater Technology during the 4th quarter valued at $151,000. Bank of New York Mellon Corp lifted its stake in shares of SkyWater Technology by 21.0% in the fourth quarter. Bank of New York Mellon Corp now owns 67,891 shares of the company’s stock valued at $937,000 after buying an additional 11,800 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of SkyWater Technology during the fourth quarter valued at about $200,000. 70.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC restated a “buy” rating and issued a $12.00 target price on shares of SkyWater Technology in a report on Thursday, February 27th.

Insider Transactions at SkyWater Technology

In related news, Director Gregory B. Graves sold 12,844 shares of SkyWater Technology stock in a transaction on Friday, March 14th. The stock was sold at an average price of $8.11, for a total transaction of $104,164.84. Following the sale, the director now directly owns 14,285 shares in the company, valued at approximately $115,851.35. This trade represents a 47.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 42.55% of the company’s stock.

SkyWater Technology Trading Down 1.3 %

NASDAQ SKYT opened at $6.81 on Thursday. SkyWater Technology, Inc. has a 12 month low of $5.63 and a 12 month high of $19.00. The company has a current ratio of 0.87, a quick ratio of 0.78 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $327.12 million, a P/E ratio of -19.46 and a beta of 3.41. The business has a fifty day simple moving average of $8.12 and a 200 day simple moving average of $9.63.

SkyWater Technology (NASDAQ:SKYT) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.10. The business had revenue of $75.49 million for the quarter, compared to analysts’ expectations of $74.25 million. SkyWater Technology had a negative net margin of 4.75% and a negative return on equity of 12.40%. On average, analysts predict that SkyWater Technology, Inc. will post -0.22 EPS for the current fiscal year.

SkyWater Technology 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.