D. E. Shaw & Co. Inc. Increases Position in SkyWater Technology, Inc. (NASDAQ:SKYT)

D. E. Shaw & Co. Inc. lifted its position in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) by 89.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 176,473 shares of the company’s stock after purchasing an additional 83,544 shares during the period. D. E. Shaw & Co. Inc. owned about 0.37% of SkyWater Technology worth $2,435,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Baillie Gifford & Co. lifted its stake in SkyWater Technology by 65.4% during the fourth quarter. Baillie Gifford & Co. now owns 1,665,284 shares of the company’s stock worth $22,981,000 after purchasing an additional 658,431 shares during the last quarter. Trexquant Investment LP lifted its position in shares of 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 buying an additional 148,802 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of SkyWater Technology by 394.2% in the 4th quarter. Bank of America Corp DE now owns 163,645 shares of the company’s stock valued at $2,258,000 after buying an additional 130,529 shares in the last quarter. UNICOM Systems Inc. purchased a new position in shares of SkyWater Technology in the 4th quarter valued at $1,728,000. Finally, Tudor Investment Corp ET AL acquired a new stake in SkyWater Technology during the 4th quarter worth $1,510,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

SkyWater Technology Price Performance

Shares of NASDAQ:SKYT opened at $9.19 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 0.87 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average price of $7.36 and a 200 day moving average price of $9.29. The company has a market cap of $441.44 million, a P/E ratio of -26.26 and a beta of 3.40. SkyWater Technology, Inc. has a 52 week low of $5.63 and a 52 week high of $19.00.

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. SkyWater Technology had a negative return on equity of 12.40% and a negative net margin of 4.75%. The company had revenue of $75.49 million during the quarter, compared to the consensus estimate of $74.25 million. Research analysts predict that SkyWater Technology, Inc. will post -0.22 earnings per share for the current year.

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 dated 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 sale, the director now directly owns 14,285 shares in the company, valued at $115,851.35. This represents a 47.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 37.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SKYT. Needham & Company LLC reduced their target price on SkyWater Technology from $12.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, May 8th. TD Cowen lowered their price target on SkyWater Technology from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, May 8th.

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.