Canada Pension Plan Investment Board Purchases Shares of 17,400 SkyWater Technology, Inc. $SKYT

Canada Pension Plan Investment Board purchased a new stake in SkyWater Technology, Inc. (NASDAQ:SKYT) during the second quarter, HoldingsChannel.com reports. The fund purchased 17,400 shares of the company’s stock, valued at approximately $606,000.

A number of other institutional investors and hedge funds have also modified their holdings of SKYT. Quarry LP bought a new stake in shares of SkyWater Technology during the 4th quarter worth $25,000. Federated Hermes Inc. bought a new position in SkyWater Technology in the 2nd quarter worth $25,000. KBC Group NV bought a new position in SkyWater Technology in the 1st quarter worth $27,000. BNP Paribas Financial Markets lifted 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 worth $27,000 after acquiring an additional 991 shares during the last quarter. Finally, State of Wyoming acquired a new position in SkyWater Technology during the 4th quarter worth $35,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of SkyWater Technology in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $32.00.

SkyWater Technology Stock Performance

Shares of NASDAQ SKYT opened at $32.46 on Wednesday. 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 business’s 50 day moving average is $32.62 and its two-hundred day moving average is $32.27. The company has a market cap of $1.60 billion, a P/E ratio of 13.93 and a beta of 3.39. SkyWater Technology, Inc. has a 12 month low of $8.49 and a 12 month high of $39.93.

SkyWater Technology (NASDAQ:SKYT) last issued its quarterly earnings results 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 business had revenue of $160.69 million for the quarter.

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.