185,270 Shares in SkyWater Technology, Inc. $SKYT Purchased by Pier Capital LLC

Pier Capital LLC purchased a new position in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 185,270 shares of the company’s stock, valued at approximately $3,365,000.

Other large investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its holdings in SkyWater Technology by 814.1% during the third quarter. Russell Investments Group Ltd. now owns 2,468 shares of the company’s stock worth $46,000 after purchasing an additional 2,198 shares in the last quarter. Federated Hermes Inc. acquired a new position in SkyWater Technology during the second quarter worth about $25,000. BNP Paribas Financial Markets grew its position in SkyWater Technology by 56.4% during the second quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company’s stock worth $27,000 after buying an additional 991 shares during the period. CWM LLC grew its position in SkyWater Technology by 291.3% during the third quarter. CWM LLC now owns 3,138 shares of the company’s stock worth $59,000 after buying an additional 2,336 shares during the period. Finally, NewEdge Advisors LLC grew its position in SkyWater Technology by 15.4% during the second quarter. NewEdge Advisors LLC now owns 9,350 shares of the company’s stock worth $92,000 after buying an additional 1,250 shares during the period. 70.00% of the stock is owned by hedge funds and other institutional investors.

SkyWater Technology Stock Down 3.3%

SKYT stock opened at $33.06 on Friday. The company’s 50 day simple moving average is $29.80 and its 200-day simple moving average is $25.06. The firm has a market capitalization of $1.63 billion, a PE ratio of 13.60 and a beta of 3.30. SkyWater Technology, Inc. has a 12 month low of $7.02 and a 12 month high of $36.27. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.60 and a quick ratio of 0.52.

SkyWater Technology (NASDAQ:SKYT) last released its quarterly earnings results on Wednesday, February 25th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.02). The business had revenue of $171.04 million during the quarter, compared to analyst estimates of $160.05 million. SkyWater Technology had a net margin of 26.90% and a negative return on equity of 6.89%. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.04 earnings per share. Equities analysts expect that SkyWater Technology, Inc. will post -0.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on SKYT shares. Zacks Research upgraded shares of SkyWater Technology from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. TD Cowen lowered shares of SkyWater Technology from a “buy” rating to a “hold” rating and upped their target price for the stock from $24.00 to $35.00 in a research report on Tuesday, January 27th. Piper Sandler lowered shares of SkyWater Technology from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $17.00 to $35.00 in a research report on Monday, January 26th. Craig Hallum lowered shares of SkyWater Technology from a “buy” rating to a “hold” rating and set a $35.00 target price on the stock. in a research report on Tuesday, January 27th. Finally, Needham & Company LLC lowered shares of SkyWater Technology from a “buy” rating to a “hold” rating in a research report on Monday, January 26th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $32.00.

Insider Activity at SkyWater Technology

In other news, CFO Steve Manko sold 84,215 shares of the stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $30.41, for a total value of $2,560,978.15. Following the sale, the chief financial officer directly owned 171,567 shares in the company, valued at $5,217,352.47. This represents a 32.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 37.85% of the stock is owned by corporate 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.