Perkins Capital Management Inc. Has $724,000 Stock Position in SkyWater Technology, Inc. $SKYT

Perkins Capital Management Inc. reduced its position in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) by 80.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,400 shares of the company’s stock after selling 107,250 shares during the period. Perkins Capital Management Inc. owned 0.05% of SkyWater Technology worth $724,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SKYT. Quarry LP bought a new position in SkyWater Technology in the 4th quarter worth $25,000. Federated Hermes Inc. bought a new stake in SkyWater Technology during the second quarter valued at about $25,000. BNP Paribas Financial Markets boosted its holdings in SkyWater Technology by 56.4% during the second quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company’s stock valued at $27,000 after acquiring an additional 991 shares during the period. State of Wyoming acquired a new stake in shares of SkyWater Technology in the fourth quarter valued at about $35,000. Finally, Russell Investments Group Ltd. grew its position in shares of SkyWater Technology by 814.1% in the third quarter. Russell Investments Group Ltd. now owns 2,468 shares of the company’s stock valued at $46,000 after purchasing an additional 2,198 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other SkyWater Technology news, CFO Steve Manko sold 75,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were 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. The trade was a 43.71% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 22.56% of the stock is owned by corporate insiders.

SkyWater Technology Trading Down 2.2%

SkyWater Technology stock opened at $34.82 on Wednesday. The business has a 50 day moving average price of $35.47 and a two-hundred day moving average price of $30.24. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.17. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 14.94 and a beta of 3.32. 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. SkyWater Technology had a negative return on equity of 7.88% and a net margin of 21.04%.The firm had revenue of $160.69 million during the quarter. As a group, equities analysts forecast that SkyWater Technology, Inc. will post -0.42 EPS for the current year.

Analysts Set New Price Targets

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