Vanguard Group Inc. Purchases 40,060 Shares of SkyWater Technology, Inc. (NASDAQ:SKYT)

Vanguard Group Inc. lifted its holdings in SkyWater Technology, Inc. (NASDAQ:SKYT) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,448,738 shares of the company’s stock after acquiring an additional 40,060 shares during the period. Vanguard Group Inc. owned 3.04% of SkyWater Technology worth $19,993,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Hillsdale Investment Management Inc. bought a new stake in SkyWater Technology in the 4th quarter valued at $338,000. Virtu Financial LLC purchased a new stake in shares of SkyWater Technology in the fourth quarter worth about $200,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of SkyWater Technology by 142.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 53,920 shares of the company’s stock worth $744,000 after buying an additional 31,700 shares in the last quarter. AlphaQuest LLC grew its holdings in SkyWater Technology by 1,457.6% during the 4th quarter. AlphaQuest LLC now owns 16,729 shares of the company’s stock valued at $231,000 after buying an additional 15,655 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in SkyWater Technology by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 202,639 shares of the company’s stock worth $2,796,000 after acquiring an additional 3,321 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Transactions at SkyWater Technology

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

Wall Street Analysts Forecast Growth

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

SkyWater Technology Stock Down 1.3 %

Shares of NASDAQ SKYT opened at $6.81 on Thursday. SkyWater Technology, Inc. has a 52-week low of $5.63 and a 52-week high of $19.00. The firm has a market capitalization of $327.12 million, a price-to-earnings ratio of -19.46 and a beta of 3.41. The stock has a 50 day moving average price of $8.12 and a 200 day moving average price of $9.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 0.87.

SkyWater Technology (NASDAQ:SKYT) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.10. SkyWater Technology had a negative net margin of 4.75% and a negative return on equity of 12.40%. The company had revenue of $75.49 million for the quarter, compared to analyst estimates of $74.25 million. Sell-side analysts expect that SkyWater Technology, Inc. will post -0.22 earnings per share for the current 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.