Teton Advisors LLC Sells 24,000 Shares of SkyWater Technology, Inc. $SKYT

Teton Advisors LLC trimmed its position in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) by 39.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,484 shares of the company’s stock after selling 24,000 shares during the quarter. Teton Advisors LLC’s holdings in SkyWater Technology were worth $663,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SKYT. Millennium Management LLC boosted its position in shares of SkyWater Technology by 3,396.4% during the third quarter. Millennium Management LLC now owns 775,364 shares of the company’s stock valued at $14,468,000 after purchasing an additional 753,188 shares in the last quarter. Federated Hermes Inc. lifted its position in SkyWater Technology by 13,712.9% during the third quarter. Federated Hermes Inc. now owns 347,119 shares of the company’s stock valued at $6,477,000 after buying an additional 344,606 shares during the period. Erste Asset Management GmbH lifted its position in SkyWater Technology by 21.7% during the third quarter. Erste Asset Management GmbH now owns 1,400,000 shares of the company’s stock valued at $25,508,000 after buying an additional 250,000 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of SkyWater Technology by 15.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,693,056 shares of the company’s stock valued at $16,660,000 after buying an additional 229,954 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS bought a new stake in shares of SkyWater Technology during the 3rd quarter valued at $4,004,000. Institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

SKYT has been the subject of several research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of SkyWater Technology in a research note on Friday, March 27th. Craig Hallum lowered shares of SkyWater Technology from a “buy” rating to a “hold” rating and set a $35.00 price objective on the stock. in a research note on Tuesday, January 27th. TD Cowen cut shares of SkyWater Technology from a “buy” rating to a “hold” rating and upped their price objective for the stock from $24.00 to $35.00 in a report on Tuesday, January 27th. Zacks Research upgraded shares of SkyWater Technology from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Finally, Stifel Nicolaus set a $35.00 price target on SkyWater Technology in a research report on Monday, January 26th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $32.00.

Insider Activity

In other news, CFO Steve Manko sold 91,109 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $27.84, for a total transaction of $2,536,474.56. Following the sale, the chief financial officer owned 215,166 shares in the company, valued at $5,990,221.44. This represents a 29.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 250,324 shares of company stock valued at $7,728,453 in the last 90 days. Corporate insiders own 37.85% of the company’s stock.

SkyWater Technology Price Performance

Shares of NASDAQ:SKYT opened at $34.72 on Monday. The business has a fifty day moving average price of $30.43 and a 200-day moving average price of $25.84. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.51 and a quick ratio of 0.44. The company has a market capitalization of $1.71 billion, a PE ratio of 14.29 and a beta of 3.30. SkyWater Technology, Inc. has a 1-year low of $8.18 and a 1-year high of $36.38.

SkyWater Technology (NASDAQ:SKYT) last announced its quarterly earnings data on Wednesday, May 20th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.17). The firm had revenue of $160.69 million for the quarter, compared to analysts’ expectations of $146.07 million. SkyWater Technology had a net margin of 21.04% and a negative return on equity of 9.03%. As a group, equities analysts expect that SkyWater Technology, Inc. will post -0.42 EPS for the current fiscal year.

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.