Healthcare of Ontario Pension Plan Trust Fund Boosts Stake in SkyWater Technology, Inc. $SKYT

Healthcare of Ontario Pension Plan Trust Fund boosted its stake in SkyWater Technology, Inc. (NASDAQ:SKYT) by 199.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 185,000 shares of the company’s stock after purchasing an additional 123,178 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.38% of SkyWater Technology worth $5,071,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Gabelli Funds LLC lifted its stake in SkyWater Technology by 140.6% during the first quarter. Gabelli Funds LLC now owns 147,228 shares of the company’s stock worth $4,036,000 after purchasing an additional 86,026 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in shares of SkyWater Technology in the first quarter valued at $3,717,000. Sei Investments Co. purchased a new stake in shares of SkyWater Technology in the 1st quarter valued at $222,000. KBC Group NV purchased a new stake in shares of SkyWater Technology in the 1st quarter valued at $27,000. Finally, Swiss National Bank raised its holdings in shares of SkyWater Technology by 26.1% in the 1st quarter. Swiss National Bank now owns 72,000 shares of the company’s stock valued at $1,974,000 after buying an additional 14,900 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

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 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. This trade represents a 43.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 22.56% of the stock is currently owned by company insiders.

SkyWater Technology Stock Performance

NASDAQ:SKYT opened at $30.58 on Thursday. SkyWater Technology, Inc. has a 52 week low of $8.49 and a 52 week high of $39.93. The company has a fifty day simple moving average of $34.84 and a two-hundred day simple moving average of $32.11. 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 company has a market cap of $1.50 billion, a price-to-earnings ratio of 13.12 and a beta of 3.34.

SkyWater Technology (NASDAQ:SKYT) last announced its quarterly earnings data on Friday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter. The company had revenue of $160.69 million during the quarter. SkyWater Technology had a net margin of 21.04% and a negative return on equity of 7.88%. As a group, equities analysts anticipate that SkyWater Technology, Inc. will post -0.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SKYT has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of SkyWater Technology in a report on Wednesday, June 24th. Zacks Research raised shares of 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 given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus 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.