Versor Investments LP Buys Shares of 24,700 SkyWater Technology, Inc. $SKYT

Versor Investments LP bought a new stake in shares of SkyWater Technology, Inc. (NASDAQ:SKYTFree Report) during the fourth quarter, HoldingsChannel reports. The fund bought 24,700 shares of the company’s stock, valued at approximately $449,000.

A number of other large investors have also recently bought and sold shares of SKYT. Federated Hermes Inc. acquired a new stake in SkyWater Technology during the 2nd quarter valued at $25,000. BNP Paribas Financial Markets grew its holdings in SkyWater Technology by 56.4% during the 2nd 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 during the last quarter. Russell Investments Group Ltd. grew its holdings in SkyWater Technology by 814.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,468 shares of the company’s stock valued at $46,000 after buying an additional 2,198 shares during the last quarter. CWM LLC grew its holdings in SkyWater Technology by 291.3% during the 3rd quarter. CWM LLC now owns 3,138 shares of the company’s stock valued at $59,000 after buying an additional 2,336 shares during the last quarter. Finally, NewEdge Advisors LLC grew its holdings in SkyWater Technology by 15.4% during the 2nd quarter. NewEdge Advisors LLC now owns 9,350 shares of the company’s stock valued at $92,000 after buying an additional 1,250 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Steve Manko sold 91,109 shares of SkyWater Technology stock in a transaction 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 owned 215,166 shares in the company, valued at approximately $5,990,221.44. This trade represents a 29.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 250,324 shares of company stock valued at $7,728,453 in the last 90 days. 37.85% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SKYT shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of SkyWater Technology in a report on Friday, March 27th. Stifel Nicolaus set a $35.00 target price on SkyWater Technology in a report on Monday, January 26th. Piper Sandler cut SkyWater Technology from an “overweight” rating to a “neutral” rating and increased their target price for the company from $17.00 to $35.00 in a report on Monday, January 26th. Zacks Research upgraded SkyWater Technology from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Finally, Craig Hallum cut SkyWater Technology from a “buy” rating to a “hold” rating and set a $35.00 price objective on the stock. in a report on Tuesday, January 27th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $32.00.

View Our Latest Stock Analysis on SKYT

SkyWater Technology Price Performance

SKYT stock opened at $35.82 on Friday. SkyWater Technology, Inc. has a 52-week low of $7.72 and a 52-week high of $36.38. The stock’s fifty day simple moving average is $30.32 and its 200-day simple moving average is $25.72. The company has a quick ratio of 0.52, a current ratio of 0.51 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 14.74 and a beta of 3.30.

SkyWater Technology (NASDAQ:SKYTGet Free Report) last posted its quarterly earnings data on Wednesday, May 20th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.17). SkyWater Technology had a negative return on equity of 9.03% and a net margin of 21.04%.The business had revenue of $160.69 million for the quarter, compared to analyst estimates of $146.07 million. Equities research analysts expect that SkyWater Technology, Inc. will post -0.42 EPS for the current year.

SkyWater Technology Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for SkyWater Technology (NASDAQ:SKYT)

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