HUB Investment Partners LLC Cuts Stock Holdings in SkyWater Technology, Inc. (NASDAQ:SKYT)

HUB Investment Partners LLC lessened its holdings in SkyWater Technology, Inc. (NASDAQ:SKYT - Free Report) by 72.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,000 shares of the company's stock after selling 123,500 shares during the quarter. HUB Investment Partners LLC owned approximately 0.10% of SkyWater Technology worth $635,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Quarry LP acquired a new position in SkyWater Technology during the 3rd quarter worth about $35,000. Entropy Technologies LP acquired a new position in shares of SkyWater Technology in the 4th quarter worth approximately $151,000. Quantbot Technologies LP acquired a new stake in shares of SkyWater Technology during the third quarter worth $120,000. Strategic Blueprint LLC bought a new position in SkyWater Technology during the fourth quarter worth $210,000. Finally, SG Americas Securities LLC bought a new position in SkyWater Technology during the fourth quarter worth $225,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

SkyWater Technology Trading Down 3.6 %

Shares of NASDAQ:SKYT traded down $0.29 during mid-day trading on Wednesday, hitting $7.76. The company had a trading volume of 433,103 shares, compared to its average volume of 541,989. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.87 and a quick ratio of 0.78. SkyWater Technology, Inc. has a one year low of $5.63 and a one year high of $19.00. The firm has a fifty day moving average price of $9.50 and a 200 day moving average price of $9.93. The company has a market capitalization of $372.44 million, a PE ratio of -22.17 and a beta of 3.38.

Remove Ads

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 for the quarter, beating the consensus estimate of ($0.06) by $0.10. SkyWater Technology had a negative net margin of 4.75% and a negative return on equity of 12.40%. The firm had revenue of $75.49 million for the quarter, compared to analyst estimates of $74.25 million. As a group, research analysts forecast that SkyWater Technology, Inc. will post -0.22 EPS for the current year.

Analysts Set New Price Targets

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

Insider Activity

In other SkyWater Technology news, Director Gregory B. Graves sold 12,844 shares of the firm's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $8.11, for a total value of $104,164.84. Following the transaction, the director now directly owns 14,285 shares of the company's stock, valued at approximately $115,851.35. This trade represents a 47.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 42.55% of the company's stock.

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.