Pentwater Capital Management LP purchased a new position in SkyWater Technology, Inc. (NASDAQ:SKYT – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,807,000 shares of the company’s stock, valued at approximately $62,920,000. SkyWater Technology makes up about 0.4% of Pentwater Capital Management LP’s portfolio, making the stock its 27th largest holding. Pentwater Capital Management LP owned about 3.67% of SkyWater Technology as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of SKYT. Inspire Investing LLC raised its holdings in shares of SkyWater Technology by 2.5% in the 4th quarter. Inspire Investing LLC now owns 25,460 shares of the company’s stock valued at $462,000 after purchasing an additional 612 shares in the last quarter. Quantinno Capital Management LP increased its holdings in SkyWater Technology by 1.9% in the first quarter. Quantinno Capital Management LP now owns 46,257 shares of the company’s stock valued at $1,268,000 after buying an additional 858 shares during the last quarter. KBC Group NV purchased a new position in SkyWater Technology in the first quarter valued at $27,000. BNP Paribas Financial Markets raised its stake in SkyWater Technology by 56.4% in 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. Finally, NewEdge Advisors LLC raised its stake in SkyWater Technology by 10.7% in the third quarter. NewEdge Advisors LLC now owns 10,350 shares of the company’s stock valued at $193,000 after buying an additional 1,000 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SkyWater Technology in a report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $32.00.
SkyWater Technology Stock Performance
Shares of SKYT opened at $32.46 on Thursday. SkyWater Technology, Inc. has a twelve month low of $8.49 and a twelve month high of $39.93. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $1.60 billion, a P/E ratio of 13.93 and a beta of 3.39. The firm’s 50-day moving average is $32.96 and its two-hundred day moving average is $32.20.
SkyWater Technology (NASDAQ:SKYT – Get Free Report) last announced its quarterly earnings results on Friday, May 8th. The company reported ($0.25) earnings per share for the quarter. SkyWater Technology had a net margin of 21.04% and a negative return on equity of 7.88%. The firm had revenue of $160.69 million during the quarter.
About SkyWater Technology
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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