Perkins Capital Management Inc. Sells 36,400 Shares of SkyWater Technology, Inc. $SKYT

Perkins Capital Management Inc. lowered its holdings in SkyWater Technology, Inc. (NASDAQ:SKYT) by 21.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 133,650 shares of the company’s stock after selling 36,400 shares during the period. SkyWater Technology accounts for 1.9% of Perkins Capital Management Inc.’s portfolio, making the stock its 12th largest holding. Perkins Capital Management Inc.’s holdings in SkyWater Technology were worth $2,427,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Federated Hermes Inc. acquired a new stake in SkyWater Technology during the second quarter valued at approximately $25,000. BNP Paribas Financial Markets raised its holdings in shares of SkyWater Technology by 56.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company’s stock worth $27,000 after buying an additional 991 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of SkyWater Technology by 814.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,468 shares of the company’s stock worth $46,000 after buying an additional 2,198 shares during the period. CWM LLC lifted its position in shares of SkyWater Technology by 291.3% during the 3rd 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 boosted its stake in SkyWater Technology by 15.4% in the 2nd quarter. NewEdge Advisors LLC now owns 9,350 shares of the company’s stock valued at $92,000 after buying an additional 1,250 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on SKYT. Needham & Company LLC cut SkyWater Technology from a “buy” rating to a “hold” rating in a report on Monday, January 26th. Weiss Ratings reiterated a “sell (e+)” rating on shares of SkyWater Technology in a research report on Friday, March 27th. Craig Hallum lowered shares of SkyWater Technology from a “buy” rating to a “hold” rating and set a $35.00 price target on the stock. in a research report on Tuesday, January 27th. Zacks Research raised shares of SkyWater Technology from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Stifel Nicolaus set a $35.00 price objective on shares of SkyWater Technology in a report on Monday, January 26th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, SkyWater Technology presently has an average rating of “Hold” and a consensus target price of $32.00.

SkyWater Technology Stock Performance

Shares of NASDAQ:SKYT opened at $35.59 on Wednesday. The business has a fifty day moving average of $30.10 and a 200-day moving average of $25.46. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.52 and a current ratio of 0.51. SkyWater Technology, Inc. has a twelve month low of $7.67 and a twelve month high of $36.27. The firm has a market cap of $1.75 billion, a PE ratio of 14.65 and a beta of 3.30.

SkyWater Technology (NASDAQ:SKYT) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.02). The company had revenue of $171.04 million for the quarter, compared to analyst estimates of $160.05 million. SkyWater Technology had a negative return on equity of 9.03% and a net margin of 21.04%.The firm’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter last year, the company earned $0.04 EPS. On average, equities research analysts predict that SkyWater Technology, Inc. will post -0.42 EPS for the current fiscal year.

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 transaction of $2,560,978.15. Following the sale, the chief financial officer directly owned 171,567 shares of the company’s stock, 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 this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 37.85% of the stock is owned by company insiders.

SkyWater Technology 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.