Northern Trust Corp Increases Holdings in SkyWater Technology, Inc. (NASDAQ:SKYT)

Northern Trust Corp boosted its holdings in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) by 5.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 221,739 shares of the company’s stock after acquiring an additional 10,689 shares during the period. Northern Trust Corp owned about 0.47% of SkyWater Technology worth $3,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Summit Investment Advisors Inc. raised its stake in shares of SkyWater Technology by 64.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,849 shares of the company’s stock worth $39,000 after acquiring an additional 1,113 shares in the last quarter. BIT Capital GmbH acquired a new position in shares of SkyWater Technology in the fourth quarter valued at about $143,000. Price T Rowe Associates Inc. MD acquired a new position in shares of SkyWater Technology in the fourth quarter valued at about $147,000. Entropy Technologies LP acquired a new position in shares of SkyWater Technology in the fourth quarter valued at about $151,000. Finally, Wells Fargo & Company MN increased its holdings in shares of SkyWater Technology by 51.1% in the fourth quarter. Wells Fargo & Company MN now owns 12,826 shares of the company’s stock valued at $177,000 after purchasing an additional 4,338 shares during the period. 70.00% of the stock is owned by hedge funds and other institutional investors.

SkyWater Technology Trading Down 1.3%

Shares of SKYT stock opened at $9.00 on Friday. The company’s 50-day moving average price is $7.40 and its 200-day moving average price is $9.28. SkyWater Technology, Inc. has a twelve month low of $5.63 and a twelve 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 stock has a market cap of $432.32 million, a price-to-earnings ratio of -25.71 and a beta of 3.40.

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

Analysts Set New Price Targets

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

Insider Buying and Selling at SkyWater Technology

In other SkyWater Technology news, Director Loren A. Unterseher sold 134,049 shares of the business’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $9.41, for a total value of $1,261,401.09. Following the completion of the transaction, the director now owns 11,026,783 shares in the company, valued at $103,762,028.03. The trade was a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Gregory B. Graves sold 12,844 shares of the business’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 owns 14,285 shares of the company’s stock, valued at approximately $115,851.35. This trade represents a 47.34% decrease in their position. The disclosure for this sale can be found here. 37.85% of the stock is currently owned by corporate insiders.

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.