Erste Asset Management GmbH Lowers Stake in SkyWater Technology, Inc. $SKYT

Erste Asset Management GmbH lowered its stake in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) by 16.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,170,000 shares of the company’s stock after selling 230,000 shares during the period. Erste Asset Management GmbH owned 2.41% of SkyWater Technology worth $21,575,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Pier Capital LLC purchased a new stake in SkyWater Technology during the fourth quarter worth $3,365,000. Quantbot Technologies LP lifted its holdings in SkyWater Technology by 44,565.1% during the third quarter. Quantbot Technologies LP now owns 94,690 shares of the company’s stock worth $1,767,000 after buying an additional 94,478 shares during the period. Principal Financial Group Inc. purchased a new stake in SkyWater Technology during the third quarter worth $752,000. Tudor Investment Corp ET AL purchased a new stake in SkyWater Technology during the third quarter worth $1,202,000. Finally, Teton Advisors LLC purchased a new stake in SkyWater Technology during the third quarter worth $1,129,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on SKYT. Weiss Ratings restated a “sell (e+)” rating on shares of SkyWater Technology in a report on Friday, March 27th. Zacks Research upgraded SkyWater Technology from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. 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 company. Based on data from MarketBeat, SkyWater Technology presently has a consensus rating of “Hold” and a consensus target price of $32.00.

SkyWater Technology Stock Performance

Shares of SKYT stock opened at $36.85 on Tuesday. The business’s fifty day simple moving average is $33.28 and its 200-day simple moving average is $28.04. The company has a market cap of $1.81 billion, a PE ratio of 15.82 and a beta of 3.32. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.17. SkyWater Technology, Inc. has a 12-month low of $8.18 and a 12-month high of $39.93.

SkyWater Technology (NASDAQ:SKYT) last issued its quarterly earnings results on Wednesday, May 20th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.17). The business 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%. Analysts expect that SkyWater Technology, Inc. will post -0.42 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Steve Manko sold 91,109 shares of the company’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $27.84, for a total transaction of $2,536,474.56. Following the transaction, the chief financial officer directly owned 215,166 shares of the company’s stock, valued at approximately $5,990,221.44. This represents a 29.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 250,324 shares of company stock worth $7,728,453 over the last 90 days. Corporate insiders own 22.56% of the company’s stock.

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.