Deutsche Bank AG Buys 71,750 Shares of SkyWater Technology, Inc. (NASDAQ:SKYT)

Deutsche Bank AG grew its stake in SkyWater Technology, Inc. (NASDAQ:SKYT) by 605.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,605 shares of the company’s stock after purchasing an additional 71,750 shares during the quarter. Deutsche Bank AG owned approximately 0.18% of SkyWater Technology worth $1,154,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Baillie Gifford & Co. boosted its holdings in SkyWater Technology by 65.4% in the 4th quarter. Baillie Gifford & Co. now owns 1,665,284 shares of the company’s stock valued at $22,981,000 after purchasing an additional 658,431 shares during the period. Trexquant Investment LP increased its holdings in shares of SkyWater Technology by 169.7% during the fourth 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 period. Bank of America Corp DE raised its position in shares of SkyWater Technology by 394.2% in the fourth 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. bought a new stake in shares of SkyWater Technology in the fourth quarter valued at approximately $1,728,000. Finally, Tudor Investment Corp ET AL bought a new stake in shares of SkyWater Technology in the fourth quarter valued at approximately $1,510,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insiders Place Their Bets

In related 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 completion of the transaction, the director now directly owns 14,285 shares in the company, valued at approximately $115,851.35. The trade was a 47.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Loren A. Unterseher sold 134,049 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $9.41, for a total value of $1,261,401.09. Following the completion of the sale, the director now owns 11,026,783 shares of the company’s stock, valued at $103,762,028.03. The trade was a 1.20% decrease in their position. The disclosure for this sale can be found here. Insiders own 37.85% of the company’s stock.

SkyWater Technology Stock Performance

SKYT stock opened at $9.00 on Monday. The stock has a 50-day moving average price of $7.40 and a 200-day moving average price of $9.26. SkyWater Technology, Inc. has a 1-year low of $5.63 and a 1-year 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 cap of $432.32 million, a PE ratio of -25.71 and a beta of 3.40.

SkyWater Technology (NASDAQ:SKYT) last issued its 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 company 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%. As a group, equities research analysts expect that SkyWater Technology, Inc. will post -0.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. TD Cowen lowered their price objective on shares of SkyWater Technology from $15.00 to $12.00 and set a “buy” rating for the company in a research 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.

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.