SkyWater Technology, Inc. $SKYT Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. increased its stake in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) by 57.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 93,637 shares of the company’s stock after purchasing an additional 34,245 shares during the period. Principal Financial Group Inc.’s holdings in SkyWater Technology were worth $2,567,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SKYT. Inspire Investing LLC raised its stake in shares of SkyWater Technology by 2.5% during the 4th quarter. Inspire Investing LLC now owns 25,460 shares of the company’s stock worth $462,000 after buying an additional 612 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of 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. NewEdge Advisors LLC boosted its stake in shares of 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. Quarry LP acquired a new stake in shares of SkyWater Technology in the fourth quarter valued at about $25,000. Finally, State of Wyoming acquired a new stake in shares of SkyWater Technology in the fourth quarter valued at about $35,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other SkyWater Technology news, CFO Steve Manko sold 75,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $35.08, for a total transaction of $2,631,000.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 22.56% of the stock is currently owned by corporate insiders.

SkyWater Technology Stock Performance

Shares of NASDAQ SKYT opened at $32.46 on Friday. The company has a 50-day simple moving average of $34.75 and a 200-day simple moving average of $32.13. 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 cap of $1.60 billion, a PE ratio of 13.93 and a beta of 3.34. SkyWater Technology, Inc. has a 12 month low of $8.49 and a 12 month high of $39.93.

SkyWater Technology (NASDAQ:SKYT) last announced its quarterly earnings data 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 net margin of 21.04% and a negative return on equity of 7.88%. On average, equities analysts anticipate that SkyWater Technology, Inc. will post -0.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.