Quantbot Technologies LP Buys 94,478 Shares of SkyWater Technology, Inc. $SKYT

Quantbot Technologies LP raised its stake in SkyWater Technology, Inc. (NASDAQ:SKYT) by 44,565.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 94,690 shares of the company’s stock after purchasing an additional 94,478 shares during the period. Quantbot Technologies LP owned 0.20% of SkyWater Technology worth $1,767,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in SkyWater Technology by 4.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,047,168 shares of the company’s stock valued at $38,200,000 after buying an additional 94,948 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of SkyWater Technology by 15.7% during the second quarter. Ameriprise Financial Inc. now owns 1,693,056 shares of the company’s stock worth $16,660,000 after acquiring an additional 229,954 shares during the period. Erste Asset Management GmbH grew its position in shares of SkyWater Technology by 21.7% in the third quarter. Erste Asset Management GmbH now owns 1,400,000 shares of the company’s stock valued at $25,508,000 after purchasing an additional 250,000 shares during the last quarter. Emerald Mutual Fund Advisers Trust grew its position in shares of SkyWater Technology by 1.5% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 725,120 shares of the company’s stock valued at $13,531,000 after purchasing an additional 10,976 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in SkyWater Technology by 13,712.9% during the 3rd quarter. Federated Hermes Inc. now owns 347,119 shares of the company’s stock worth $6,477,000 after purchasing an additional 344,606 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

SKYT has been the topic of several recent research reports. Stifel Nicolaus set a $35.00 price objective on SkyWater Technology in a research report on Monday, January 26th. TD Cowen downgraded shares of SkyWater Technology from a “buy” rating to a “hold” rating and upped their price target for the company from $24.00 to $35.00 in a research note on Tuesday, January 27th. Piper Sandler cut shares of SkyWater Technology from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $17.00 to $35.00 in a research note on Monday, January 26th. Craig Hallum cut shares of SkyWater Technology from a “buy” rating to a “hold” rating and set a $35.00 target price on the stock. in a report on Tuesday, January 27th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of SkyWater Technology in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $32.00.

SkyWater Technology Price Performance

SKYT stock opened at $29.31 on Thursday. The company’s 50-day moving average price is $28.66 and its two-hundred day moving average price is $20.19. The firm has a market cap of $1.42 billion, a P/E ratio of 12.06 and a beta of 3.52. The company has a quick ratio of 0.61, a current ratio of 0.67 and a debt-to-equity ratio of 0.17. SkyWater Technology, Inc. has a 12 month low of $5.67 and a 12 month high of $36.27.

SkyWater Technology (NASDAQ:SKYT) last posted its quarterly earnings results on Wednesday, February 25th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.02). SkyWater Technology had a negative return on equity of 8.42% and a net margin of 26.90%.The firm had revenue of $171.04 million for the quarter, compared to analyst estimates of $160.05 million. During the same quarter in the prior year, the business posted $0.04 EPS. The business’s revenue was up 13.5% on a year-over-year basis. On average, analysts anticipate that SkyWater Technology, Inc. will post -0.22 earnings per share for the current fiscal year.

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.