Harbour Capital Advisors LLC Purchases New Position in SkyWater Technology, Inc. $SKYT

Harbour Capital Advisors LLC acquired a new position in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 28,240 shares of the company’s stock, valued at approximately $513,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Federated Hermes Inc. acquired a new stake in shares of SkyWater Technology in the 2nd quarter valued at $25,000. BNP Paribas Financial Markets increased its position in shares of SkyWater Technology by 56.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company’s stock worth $27,000 after purchasing an additional 991 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of SkyWater Technology by 814.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,468 shares of the company’s stock worth $46,000 after purchasing an additional 2,198 shares in the last quarter. CWM LLC lifted its holdings in SkyWater Technology by 291.3% during the 3rd quarter. CWM LLC now owns 3,138 shares of the company’s stock valued at $59,000 after purchasing an additional 2,336 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in SkyWater Technology by 15.4% during the 2nd quarter. NewEdge Advisors LLC now owns 9,350 shares of the company’s stock valued at $92,000 after purchasing an additional 1,250 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on SKYT shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SkyWater Technology in a research note on Monday, December 29th. Stifel Nicolaus set a $35.00 target price on shares of SkyWater Technology in a research note on Monday, January 26th. Zacks Research downgraded SkyWater Technology from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 4th. TD Cowen lowered SkyWater Technology from a “buy” rating to a “hold” rating and increased their price target for the stock from $24.00 to $35.00 in a research report on Tuesday, January 27th. Finally, Needham & Company LLC cut SkyWater Technology from a “buy” rating to a “hold” rating in a report on Monday, January 26th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $32.00.

SkyWater Technology Stock Down 0.5%

Shares of NASDAQ:SKYT opened at $27.54 on Friday. SkyWater Technology, Inc. has a 12 month low of $5.67 and a 12 month high of $36.27. The company’s 50-day moving average price is $29.98 and its two-hundred day moving average price is $21.50. The company has a quick ratio of 0.52, a current ratio of 0.60 and a debt-to-equity ratio of 0.17. The firm has a market cap of $1.32 billion, a P/E ratio of 11.33 and a beta of 3.52.

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

Insider Buying and Selling at SkyWater Technology

In related news, CFO Steve Manko sold 91,109 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $27.84, for a total value of $2,536,474.56. Following the completion of the sale, the chief financial officer owned 215,166 shares of the company’s stock, valued at $5,990,221.44. This trade represents a 29.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 37.85% of the stock is currently owned by corporate insiders.

SkyWater Technology 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.