SkyWater Technology, Inc. (NASDAQ:SKYT) Stock Position Trimmed by Emerald Advisers LLC

Emerald Advisers LLC reduced its position in SkyWater Technology, Inc. (NASDAQ:SKYT - Free Report) by 11.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 988,154 shares of the company's stock after selling 125,199 shares during the period. Emerald Advisers LLC owned approximately 2.07% of SkyWater Technology worth $13,637,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Quarry LP purchased a new position in SkyWater Technology in the third quarter valued at about $35,000. Quantbot Technologies LP purchased a new position in shares of SkyWater Technology during the 3rd quarter valued at approximately $120,000. Entropy Technologies LP purchased a new position in shares of SkyWater Technology during the 4th quarter valued at approximately $151,000. Virtu Financial LLC bought a new stake in shares of SkyWater Technology in the fourth quarter worth $200,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in SkyWater Technology in the third quarter valued at $202,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at SkyWater Technology

In related news, Director Gregory B. Graves sold 12,844 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $8.11, for a total value of $104,164.84. Following the sale, the director now owns 14,285 shares of the company's stock, valued at approximately $115,851.35. This trade represents a 47.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 42.55% of the company's stock.

Remove Ads

SkyWater Technology Stock Performance

NASDAQ:SKYT traded down $0.24 during trading hours on Thursday, reaching $7.52. 414,780 shares of the stock were exchanged, compared to its average volume of 543,632. The stock has a market capitalization of $360.92 million, a P/E ratio of -21.49 and a beta of 3.38. The firm has a 50 day simple moving average of $9.34 and a 200-day simple moving average of $9.90. The company has a quick ratio of 0.78, a current ratio of 0.87 and a debt-to-equity ratio of 0.53. SkyWater Technology, Inc. has a 52 week low of $5.63 and a 52 week high of $19.00.

SkyWater Technology (NASDAQ:SKYT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.10. The firm had revenue of $75.49 million for the quarter, compared to analysts' expectations of $74.25 million. SkyWater Technology had a negative return on equity of 12.40% and a negative net margin of 4.75%. As a group, sell-side analysts forecast that SkyWater Technology, Inc. will post -0.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reissued a "buy" rating and issued a $12.00 target price on shares of SkyWater Technology in a research report on Thursday, February 27th.

About SkyWater Technology

SkyWater Technology, Inc, together with its subsidiaries, operates as a pure-play technology foundry that engages in the provision of semiconductor development, manufacturing, and packaging services in the United States. The company offers engineering and process development support services to co-create technologies with customers; and semiconductor manufacturing services for various silicon-based analog and mixed-signal, micro-electromechanical systems, and rad-hard integrated circuits.