SkyWater Technology, Inc. $SKYT Shares Sold by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust trimmed its position in SkyWater Technology, Inc. (NASDAQ:SKYT) by 74.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 183,263 shares of the company’s stock after selling 545,893 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in SkyWater Technology were worth $5,023,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Millennium Management LLC lifted its stake 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 worth $14,468,000 after purchasing an additional 753,188 shares in the last quarter. State Street Corp boosted its holdings in shares of SkyWater Technology by 134.1% in the 4th quarter. State Street Corp now owns 1,210,673 shares of the company’s stock valued at $21,986,000 after buying an additional 693,470 shares during the period. Trexquant Investment LP bought a new position in shares of SkyWater Technology during the fourth quarter valued at approximately $6,745,000. Ameriprise Financial Inc. increased its position in SkyWater Technology by 15.7% in the second quarter. Ameriprise Financial Inc. now owns 1,693,056 shares of the company’s stock worth $16,660,000 after buying an additional 229,954 shares during the period. Finally, Pier Capital LLC acquired a new stake in shares of SkyWater Technology in the 4th quarter worth about $3,365,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

SkyWater Technology Stock Down 2.2%

SKYT opened at $31.81 on Tuesday. 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 $1.57 billion, a PE ratio of 13.65 and a beta of 3.34. The business has a 50-day moving average of $35.63 and a 200-day moving average of $31.29. SkyWater Technology, Inc. has a fifty-two week low of $8.49 and a fifty-two week high of $39.93.

SkyWater Technology (NASDAQ:SKYT) last posted its earnings results on Friday, May 8th. The company reported ($0.25) EPS for the quarter. The business had revenue of $160.69 million during the quarter. SkyWater Technology had a negative return on equity of 7.88% and a net margin of 21.04%. Equities research analysts forecast that SkyWater Technology, Inc. will post -0.42 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SkyWater Technology in a research note on Wednesday, June 24th. Zacks Research upgraded shares of SkyWater Technology from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $32.00.

Insider Transactions at SkyWater Technology

In other SkyWater Technology news, CFO Steve Manko sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $35.08, for a total value of $2,631,000.00. Following the sale, the chief financial officer owned 96,567 shares of the company’s stock, valued at $3,387,570.36. This trade represents a 43.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 22.56% of the stock is owned by company insiders.

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.