Man Group plc bought a new position in shares of SkyWater Technology, Inc. (NASDAQ:SKYT – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 667,091 shares of the company’s stock, valued at approximately $23,228,000.
Other institutional investors have also recently modified their holdings of the company. KBC Group NV acquired a new position in SkyWater Technology in the 1st quarter worth about $27,000. Quarry LP acquired a new stake in SkyWater Technology in the fourth quarter valued at approximately $25,000. State of Wyoming acquired a new stake in SkyWater Technology in the fourth quarter valued at approximately $35,000. Russell Investments Group Ltd. increased 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 valued at $46,000 after buying an additional 2,198 shares in the last quarter. Finally, Federated Hermes Inc. purchased a new stake in shares of SkyWater Technology in the second quarter valued at approximately $25,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of SkyWater Technology in a research report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $32.00.
SkyWater Technology Price Performance
SKYT stock opened at $32.46 on Thursday. The stock has a market capitalization of $1.60 billion, a P/E ratio of 13.93 and a beta of 3.39. The firm has a 50-day simple moving average of $32.96 and a 200-day simple moving average of $32.20. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.17. SkyWater Technology, Inc. has a 52 week low of $8.49 and a 52 week high of $39.93.
SkyWater Technology (NASDAQ:SKYT – Get Free Report) last released its quarterly earnings results on Friday, May 8th. The company reported ($0.25) earnings per share for the quarter. The company had revenue of $160.69 million for the quarter. SkyWater Technology had a negative return on equity of 7.88% and a net margin of 21.04%.
SkyWater Technology Company 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.
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