Erste Asset Management GmbH Boosts Stock Position in SkyWater Technology, Inc. $SKYT

Erste Asset Management GmbH boosted its stake in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) by 21.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,400,000 shares of the company’s stock after buying an additional 250,000 shares during the period. Erste Asset Management GmbH owned approximately 2.91% of SkyWater Technology worth $25,508,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in SKYT. Federated Hermes Inc. purchased a new stake in shares of SkyWater Technology in the second quarter worth $25,000. BNP Paribas Financial Markets grew its position in SkyWater Technology by 56.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company’s stock valued at $27,000 after purchasing an additional 991 shares during the last quarter. CWM LLC increased its stake 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 in the last quarter. NewEdge Advisors LLC raised its holdings in SkyWater Technology by 15.4% in the second quarter. NewEdge Advisors LLC now owns 9,350 shares of the company’s stock worth $92,000 after buying an additional 1,250 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in SkyWater Technology in the third quarter worth about $239,000. 70.00% of the stock is owned by institutional investors.

SkyWater Technology Stock Up 7.0%

SKYT stock opened at $30.83 on Friday. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 12.69 and a beta of 3.51. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.61 and a current ratio of 0.67. The business’s 50-day moving average is $27.69 and its two-hundred day moving average is $19.66. SkyWater Technology, Inc. has a fifty-two week low of $5.67 and a fifty-two week high of $36.27.

SkyWater Technology (NASDAQ:SKYT) last released its quarterly earnings results on Wednesday, February 25th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.02). The business had revenue of $171.04 million for the quarter, compared to analysts’ expectations of $160.05 million. SkyWater Technology had a net margin of 26.90% and a negative return on equity of 8.42%. SkyWater Technology’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.04 EPS. As a group, analysts forecast that SkyWater Technology, Inc. will post -0.22 earnings per share for the current year.

Analysts Set New Price Targets

SKYT has been the topic of a number of recent analyst reports. Needham & Company LLC cut shares of SkyWater Technology from a “buy” rating to a “hold” rating in a report on Monday, January 26th. Stifel Nicolaus set a $35.00 target price on SkyWater Technology in a research note on Monday, January 26th. TD Cowen lowered SkyWater Technology from a “buy” rating to a “hold” rating and lifted their target price for the stock from $24.00 to $35.00 in a report on Tuesday, January 27th. Piper Sandler downgraded SkyWater Technology from an “overweight” rating to a “neutral” rating and upped their price target for the company from $17.00 to $35.00 in a report on Monday, January 26th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of SkyWater Technology in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price 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.