Teton Advisors LLC Purchases New Shares in SkyWater Technology, Inc. $SKYT

Teton Advisors LLC purchased a new position in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 60,484 shares of the company’s stock, valued at approximately $1,129,000. Teton Advisors LLC owned about 0.13% of SkyWater Technology as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Federated Hermes Inc. increased its stake in SkyWater Technology by 13,712.9% in the 3rd quarter. Federated Hermes Inc. now owns 347,119 shares of the company’s stock valued at $6,477,000 after buying an additional 344,606 shares during the last quarter. Erste Asset Management GmbH boosted its stake in shares of SkyWater Technology by 21.7% in the 3rd quarter. Erste Asset Management GmbH now owns 1,400,000 shares of the company’s stock worth $25,508,000 after buying an additional 250,000 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of SkyWater Technology by 15.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,693,056 shares of the company’s stock worth $16,660,000 after buying an additional 229,954 shares during the last quarter. Kornitzer Capital Management Inc. KS bought a new position in shares of SkyWater Technology in the third quarter valued at approximately $4,004,000. Finally, AQR Capital Management LLC increased its position in shares of SkyWater Technology by 112.0% during the first quarter. AQR Capital Management LLC now owns 313,993 shares of the company’s stock valued at $2,226,000 after acquiring an additional 165,865 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

SkyWater Technology Price Performance

SkyWater Technology stock opened at $28.92 on Friday. SkyWater Technology, Inc. has a 12 month low of $5.67 and a 12 month high of $36.27. The company has a current ratio of 0.67, a quick ratio of 0.61 and a debt-to-equity ratio of 0.17. The business’s 50 day simple moving average is $29.09 and its 200 day simple moving average is $20.38. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 11.90 and a beta of 3.52.

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