SkyWater Technology, Inc. $SKYT Shares Sold by Erste Asset Management GmbH

Erste Asset Management GmbH trimmed its position in SkyWater Technology, Inc. (NASDAQ:SKYT) by 16.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,170,000 shares of the company’s stock after selling 230,000 shares during the period. Erste Asset Management GmbH’s holdings in SkyWater Technology were worth $21,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Federated Hermes Inc. acquired a new position 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% in the 2nd 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 position in shares of SkyWater Technology in the 4th quarter valued at $35,000. Russell Investments Group Ltd. increased its position in shares of SkyWater Technology by 814.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,468 shares of the company’s stock valued at $46,000 after acquiring an additional 2,198 shares during the period. Finally, NewEdge Advisors LLC increased its position in shares of SkyWater Technology by 15.4% in the 2nd quarter. NewEdge Advisors LLC now owns 9,350 shares of the company’s stock valued at $92,000 after acquiring an additional 1,250 shares during the period. 70.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SKYT has been the topic of several research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of SkyWater Technology in a research report on Friday, March 27th. Zacks Research raised SkyWater Technology from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned 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 target price of $32.00.

SkyWater Technology Price Performance

NASDAQ SKYT opened at $36.85 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.51 and a quick ratio of 0.44. The stock’s fifty day moving average price is $33.28 and its 200 day moving average price is $28.04. SkyWater Technology, Inc. has a 1 year low of $8.18 and a 1 year high of $39.93. The company has a market cap of $1.81 billion, a price-to-earnings ratio of 15.82 and a beta of 3.32.

SkyWater Technology (NASDAQ:SKYT) last announced its quarterly earnings results on Wednesday, May 20th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.17). The company had revenue of $160.69 million for the quarter, compared to analyst estimates of $146.07 million. SkyWater Technology had a negative return on equity of 7.88% and a net margin of 21.04%. As a group, equities research analysts forecast that SkyWater Technology, Inc. will post -0.42 earnings per share for the current year.

Insiders Place Their Bets

In other SkyWater Technology news, CFO Steve Manko sold 75,000 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $35.08, for a total transaction of $2,631,000.00. Following the sale, the chief financial officer directly owned 96,567 shares of the company’s stock, valued at approximately $3,387,570.36. This trade represents a 43.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 250,324 shares of company stock worth $7,728,453. 22.56% of the stock is currently owned by company insiders.

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.