Price T Rowe Associates Inc. MD Takes Position in SkyWater Technology, Inc. (NASDAQ:SKYT)

Price T Rowe Associates Inc. MD purchased a new position in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 10,587 shares of the company’s stock, valued at approximately $147,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in SkyWater Technology during the 4th quarter worth approximately $572,000. UNICOM Systems Inc. purchased a new stake in SkyWater Technology during the 4th quarter worth approximately $1,728,000. Vanguard Group Inc. increased its holdings in SkyWater Technology by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 1,448,738 shares of the company’s stock worth $19,993,000 after purchasing an additional 40,060 shares during the last quarter. Trexquant Investment LP increased its holdings in SkyWater Technology by 169.7% during the 4th quarter. Trexquant Investment LP now owns 236,498 shares of the company’s stock worth $3,264,000 after purchasing an additional 148,802 shares during the last quarter. Finally, Franklin Resources Inc. purchased a new stake in SkyWater Technology during the 4th quarter worth approximately $546,000. 70.00% of the stock is owned by institutional investors and hedge funds.

SkyWater Technology Price Performance

Shares of SKYT opened at $8.89 on Friday. The company has a market cap of $427.03 million, a P/E ratio of -25.40 and a beta of 3.40. The stock has a fifty day moving average price of $7.32 and a 200 day moving average price of $9.30. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.87 and a quick ratio of 0.78. SkyWater Technology, Inc. has a 12 month low of $5.63 and a 12 month high of $19.00.

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

Insider Buying and Selling

In related news, Director Gregory B. Graves sold 12,844 shares of the company’s 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 completion of the transaction, the director now directly owns 14,285 shares in the company, valued at $115,851.35. This represents a 47.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 37.85% of the stock is owned by company insiders.

Analyst Ratings Changes

SKYT has been the topic of several analyst reports. TD Cowen dropped their price objective on SkyWater Technology from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Needham & Company LLC lowered their price target on SkyWater Technology from $12.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, May 8th.

About SkyWater Technology

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.