130,705 Shares in SkyWater Technology, Inc. $SKYT Purchased by K2 Principal Fund L.P.

K2 Principal Fund L.P. purchased a new stake in SkyWater Technology, Inc. (NASDAQ:SKYT) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 130,705 shares of the company’s stock, valued at approximately $4,551,000. K2 Principal Fund L.P. owned 0.27% of SkyWater Technology as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Inspire Investing LLC lifted its position in 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 acquiring an additional 612 shares during the period. Quantinno Capital Management LP increased its holdings in shares of 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 purchasing an additional 858 shares during the period. KBC Group NV acquired a new position in shares of SkyWater Technology in the first quarter valued at approximately $27,000. BNP Paribas Financial Markets raised its stake in shares of SkyWater Technology by 56.4% during the second quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company’s stock worth $27,000 after purchasing an additional 991 shares during the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of SkyWater Technology by 10.7% during the third quarter. NewEdge Advisors LLC now owns 10,350 shares of the company’s stock worth $193,000 after purchasing an additional 1,000 shares during the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

SkyWater Technology Stock Performance

NASDAQ SKYT opened at $32.46 on Wednesday. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 13.93 and a beta of 3.39. The business’s 50 day moving average is $33.41 and its two-hundred day moving average is $32.14. SkyWater Technology, Inc. has a 12-month low of $8.49 and a 12-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.

SkyWater Technology (NASDAQ:SKYT) last posted its quarterly earnings results on Friday, May 8th. The company reported ($0.25) EPS for the quarter. SkyWater Technology had a net margin of 21.04% and a negative return on equity of 7.88%. The business had revenue of $160.69 million during the quarter.

Analyst Upgrades and Downgrades

SKYT has been the topic of several recent research reports. Zacks Research raised shares of SkyWater Technology from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Weiss Ratings restated a “sell (e+)” rating on shares of SkyWater Technology in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target 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.