Tudor Investment Corp ET AL Makes New $1.20 Million Investment in SkyWater Technology, Inc. $SKYT

Tudor Investment Corp ET AL purchased a new position in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 64,420 shares of the company’s stock, valued at approximately $1,202,000. Tudor Investment Corp ET AL owned about 0.13% of SkyWater Technology as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Federated Hermes Inc. bought a new stake in SkyWater Technology in the second quarter worth $25,000. BNP Paribas Financial Markets raised its holdings in SkyWater Technology by 56.4% during the second quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company’s stock valued at $27,000 after buying an additional 991 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of SkyWater Technology by 814.1% in the third quarter. Russell Investments Group Ltd. now owns 2,468 shares of the company’s stock worth $46,000 after buying an additional 2,198 shares during the last quarter. CWM LLC boosted its stake in shares of SkyWater Technology by 291.3% during the 3rd quarter. CWM LLC now owns 3,138 shares of the company’s stock worth $59,000 after acquiring an additional 2,336 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of SkyWater Technology by 15.4% during the 2nd quarter. NewEdge Advisors LLC now owns 9,350 shares of the company’s stock worth $92,000 after acquiring an additional 1,250 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

SkyWater Technology Stock Performance

SkyWater Technology stock opened at $27.00 on Monday. SkyWater Technology, Inc. has a 52 week low of $5.67 and a 52 week high of $36.27. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.52 and a current ratio of 0.60. The firm has a market capitalization of $1.30 billion, a PE ratio of 11.11 and a beta of 3.52. The business’s 50-day simple moving average is $29.72 and its 200-day simple moving average is $22.28.

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

Insider Buying and Selling at SkyWater Technology

In other news, CFO Steve Manko sold 91,109 shares of the 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 completion of the sale, the chief financial officer directly owned 215,166 shares of the company’s stock, valued at approximately $5,990,221.44. This represents a 29.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 37.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Craig Hallum downgraded SkyWater Technology from a “buy” rating to a “hold” rating and set a $35.00 price objective on the stock. in a research note on Tuesday, January 27th. Zacks Research downgraded SkyWater Technology from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 4th. TD Cowen lowered shares of SkyWater Technology from a “buy” rating to a “hold” rating and lifted their price target for the company from $24.00 to $35.00 in a research report on Tuesday, January 27th. Weiss Ratings restated a “sell (e+)” rating on shares of SkyWater Technology in a research note on Monday, December 29th. Finally, Stifel Nicolaus set a $35.00 price objective on shares of SkyWater Technology in a research note on Monday, January 26th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $32.00.

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.