Algert Global LLC Acquires 31,631 Shares of SkyWater Technology, Inc. (NASDAQ:SKYT)

Algert Global LLC grew its holdings in SkyWater Technology, Inc. (NASDAQ:SKYT) by 121.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 57,615 shares of the company’s stock after purchasing an additional 31,631 shares during the period. Algert Global LLC owned approximately 0.12% of SkyWater Technology worth $795,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Summit Investment Advisors Inc. raised its stake in SkyWater Technology by 64.1% during the fourth 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 SkyWater Technology during the 4th quarter worth approximately $143,000. Price T Rowe Associates Inc. MD bought a new position in SkyWater Technology in the 4th quarter valued at approximately $147,000. Entropy Technologies LP acquired a new stake in SkyWater Technology in the fourth quarter valued at approximately $151,000. Finally, Wells Fargo & Company MN grew its stake in shares of SkyWater Technology by 51.1% during the fourth quarter. Wells Fargo & Company MN now owns 12,826 shares of the company’s stock worth $177,000 after buying an additional 4,338 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Buying and Selling at SkyWater Technology

In related news, Director Gregory B. Graves sold 12,844 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 14,285 shares of the company’s stock, valued at approximately $115,851.35. This represents a 47.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 37.85% of the company’s stock.

SkyWater Technology Stock Performance

Shares of SkyWater Technology stock opened at $7.61 on Friday. 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 business has a 50-day moving average price of $7.30 and a two-hundred day moving average price of $9.38. The company has a market cap of $365.55 million, a P/E ratio of -21.74 and a beta of 3.40.

SkyWater Technology (NASDAQ:SKYT) last issued its earnings results on Wednesday, February 26th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.10. The business 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, analysts anticipate that SkyWater Technology, Inc. will post -0.22 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. TD Cowen cut their price objective on SkyWater Technology from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday. Needham & Company LLC lowered their target price on SkyWater Technology from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday.

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.