GSG Advisors LLC Makes New Investment in SkyWater Technology, Inc. $SKYT

GSG Advisors LLC purchased a new position in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 20,000 shares of the company’s stock, valued at approximately $363,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. AQR Capital Management LLC lifted its stake in shares of SkyWater Technology by 112.0% in the 1st quarter. AQR Capital Management LLC now owns 313,993 shares of the company’s stock valued at $2,226,000 after purchasing an additional 165,865 shares during the last quarter. Strs Ohio acquired a new position in SkyWater Technology during the first quarter worth $173,000. Creative Planning increased its position in SkyWater Technology by 69.7% during the second quarter. Creative Planning now owns 34,283 shares of the company’s stock worth $337,000 after buying an additional 14,085 shares during the last quarter. Rhumbline Advisers raised its holdings in SkyWater Technology by 27.4% during the second quarter. Rhumbline Advisers now owns 47,643 shares of the company’s stock valued at $469,000 after buying an additional 10,246 shares in the last quarter. Finally, American Century Companies Inc. bought a new position in SkyWater Technology during the second quarter valued at about $377,000. Institutional investors own 70.00% of the company’s stock.

Insiders Place Their Bets

In other SkyWater Technology news, CFO Steve Manko sold 91,109 shares of SkyWater Technology stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $27.84, for a total value of $2,536,474.56. Following the transaction, the chief financial officer directly owned 215,166 shares of the company’s stock, valued at $5,990,221.44. The trade was a 29.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 37.85% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Craig Hallum downgraded SkyWater Technology from a “buy” rating to a “hold” rating and set a $35.00 price target for the company. in a research note on Tuesday, January 27th. TD Cowen downgraded SkyWater Technology from a “buy” rating to a “hold” rating and raised their price objective for the company from $24.00 to $35.00 in a research note on Tuesday, January 27th. Zacks Research lowered SkyWater Technology from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 4th. Stifel Nicolaus set a $35.00 target price on SkyWater Technology in a research report on Monday, January 26th. Finally, Piper Sandler downgraded SkyWater Technology from an “overweight” rating to a “neutral” rating and increased their price target for the company from $17.00 to $35.00 in a report on Monday, January 26th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, SkyWater Technology currently has an average rating of “Reduce” and an average price target of $32.00.

SkyWater Technology Stock Down 0.5%

SkyWater Technology stock opened at $27.54 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.60 and a quick ratio of 0.52. SkyWater Technology, Inc. has a fifty-two week low of $5.67 and a fifty-two week high of $36.27. The firm has a fifty day moving average price of $29.98 and a two-hundred day moving average price of $21.58. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 11.33 and a beta of 3.52.

SkyWater Technology (NASDAQ:SKYT) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.02). SkyWater Technology had a net margin of 26.90% and a negative return on equity of 6.89%. The business had revenue of $171.04 million during the quarter, compared to analyst estimates of $160.05 million. During the same period in the prior year, the business posted $0.04 earnings per share. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. As a group, analysts forecast that SkyWater Technology, Inc. will post -0.22 earnings per share for the current year.

SkyWater Technology Profile

SkyWater Technology Solutions, Inc is a U.S.-based specialty semiconductor foundry headquartered in Bloomington, Minnesota. The company focuses on the development and manufacture of high-reliability integrated circuits using advanced processes on 200-millimeter wafers.

SkyWater’s service offerings span analog/mixed-signal, radio frequency (RF), micro-electromechanical systems (MEMS) and advanced packaging technologies. Its turnkey model includes multi-project wafer (MPW) runs, volume production, design enablement support and assembly and test services, enabling customers to take concepts from prototype to market.

Serving aerospace, defense, automotive, industrial, medical and communications sectors, SkyWater supports applications that demand rigorous performance, quality and traceability.