Mairs & Power Inc. Buys 20,836 Shares of SkyWater Technology, Inc. $SKYT

Mairs & Power Inc. raised its stake in SkyWater Technology, Inc. (NASDAQ:SKYT) by 12.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 184,756 shares of the company’s stock after purchasing an additional 20,836 shares during the quarter. Mairs & Power Inc. owned 0.38% of SkyWater Technology worth $3,448,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. AQR Capital Management LLC boosted its position in shares of SkyWater Technology by 112.0% during the first quarter. AQR Capital Management LLC now owns 313,993 shares of the company’s stock valued at $2,226,000 after buying an additional 165,865 shares during the last quarter. Strs Ohio purchased a new stake in SkyWater Technology in the 1st quarter valued at $173,000. Creative Planning lifted its stake in SkyWater Technology by 69.7% during the 2nd quarter. Creative Planning now owns 34,283 shares of the company’s stock valued at $337,000 after acquiring an additional 14,085 shares in the last quarter. Rhumbline Advisers lifted its stake in SkyWater Technology by 27.4% during the 2nd quarter. Rhumbline Advisers now owns 47,643 shares of the company’s stock valued at $469,000 after acquiring an additional 10,246 shares in the last quarter. Finally, American Century Companies Inc. bought a new position in shares of SkyWater Technology during the second quarter valued at about $377,000. Institutional investors own 70.00% of the company’s stock.

SkyWater Technology Price Performance

SkyWater Technology stock opened at $27.86 on Tuesday. SkyWater Technology, Inc. has a 12 month low of $5.67 and a 12 month high of $36.27. The company has a current ratio of 0.60, a quick ratio of 0.52 and a debt-to-equity ratio of 0.17. The business’s 50 day simple moving average is $30.04 and its 200 day simple moving average is $21.20. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 11.47 and a beta of 3.52.

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Zacks Research lowered shares of SkyWater Technology from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 4th. Craig Hallum lowered SkyWater Technology from a “buy” rating to a “hold” rating and set a $35.00 target price for the company. in a report on Tuesday, January 27th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SkyWater Technology in a research report on Monday, December 29th. TD Cowen lowered SkyWater Technology from a “buy” rating to a “hold” rating and lifted their price target for the stock from $24.00 to $35.00 in a report on Tuesday, January 27th. Finally, Piper Sandler cut SkyWater Technology from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $17.00 to $35.00 in a research report on Monday, January 26th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, SkyWater Technology has a consensus rating of “Reduce” and an average target price of $32.00.

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.