Emerald Advisers LLC Lowers Stock Position in SkyWater Technology, Inc. $SKYT

Emerald Advisers LLC trimmed its position in SkyWater Technology, Inc. (NASDAQ:SKYT) by 78.3% in the first quarter, HoldingsChannel reports. The firm owned 286,767 shares of the company’s stock after selling 1,032,346 shares during the quarter. Emerald Advisers LLC’s holdings in SkyWater Technology were worth $7,860,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SKYT. Quarry LP bought a new position in shares of SkyWater Technology in the fourth quarter worth $25,000. Federated Hermes Inc. purchased a new position in shares of SkyWater Technology during the second quarter valued at approximately $25,000. BNP Paribas Financial Markets increased its position in shares of SkyWater Technology by 56.4% during the second quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company’s stock valued at $27,000 after acquiring an additional 991 shares in the last quarter. State of Wyoming purchased a new stake in SkyWater Technology during the 4th quarter valued at $35,000. Finally, Russell Investments Group Ltd. grew its position in SkyWater Technology by 814.1% during the third quarter. Russell Investments Group Ltd. now owns 2,468 shares of the company’s stock valued at $46,000 after buying an additional 2,198 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

SkyWater Technology Price Performance

Shares of NASDAQ SKYT opened at $32.35 on Wednesday. The firm has a market cap of $1.59 billion, a P/E ratio of 13.88 and a beta of 3.34. The business’s 50 day moving average price is $35.61 and its 200 day moving average price is $31.39. SkyWater Technology, Inc. has a 52 week low of $8.49 and a 52 week high of $39.93. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.17.

SkyWater Technology (NASDAQ:SKYT) last announced its quarterly earnings results on Friday, May 8th. The company reported ($0.25) earnings per share for the quarter. The company had revenue of $160.69 million for the quarter. SkyWater Technology had a negative return on equity of 7.88% and a net margin of 21.04%. On average, sell-side analysts expect that SkyWater Technology, Inc. will post -0.42 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Zacks Research upgraded SkyWater Technology from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of SkyWater Technology in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $32.00.

Insider Activity

In other news, CFO Steve Manko sold 75,000 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $35.08, for a total transaction of $2,631,000.00. Following the completion of the sale, the chief financial officer owned 96,567 shares of the company’s stock, valued at $3,387,570.36. This represents a 43.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 22.56% of the stock is owned by 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.