Kennedy Capital Management LLC Trims Holdings in SkyWater Technology, Inc. (NASDAQ:SKYT)

Kennedy Capital Management LLC trimmed its position in SkyWater Technology, Inc. (NASDAQ:SKYT) by 1.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 218,063 shares of the company’s stock after selling 3,231 shares during the period. Kennedy Capital Management LLC’s holdings in SkyWater Technology were worth $2,218,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SKYT. Nisa Investment Advisors LLC purchased a new position in SkyWater Technology in the 4th quarter valued at about $42,000. Tower Research Capital LLC TRC lifted its holdings in SkyWater Technology by 622.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,712 shares of the company’s stock valued at $55,000 after purchasing an additional 4,921 shares in the last quarter. Blue Trust Inc. acquired a new position in shares of SkyWater Technology during the 4th quarter valued at about $72,000. Arlington Capital Management Inc. acquired a new position in shares of SkyWater Technology during the 1st quarter valued at about $107,000. Finally, Olympiad Research LP acquired a new position in shares of SkyWater Technology during the 4th quarter valued at about $108,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Gregory B. Graves sold 5,432 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $8.10, for a total transaction of $43,999.20. Following the transaction, the director now directly owns 14,844 shares in the company, valued at $120,236.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Nancy Fares sold 8,850 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $7.97, for a total transaction of $70,534.50. Following the transaction, the director now directly owns 32,073 shares in the company, valued at $255,621.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory B. Graves sold 5,432 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $8.10, for a total value of $43,999.20. Following the transaction, the director now owns 14,844 shares in the company, valued at $120,236.40. The disclosure for this sale can be found here. Company insiders own 42.55% of the company’s stock.

SkyWater Technology Stock Performance

Shares of SkyWater Technology stock traded up $0.03 on Wednesday, hitting $7.20. 29,499 shares of the company’s stock traded hands, compared to its average volume of 411,699. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.86 and a current ratio of 0.96. The firm’s 50-day moving average is $7.68 and its 200 day moving average is $9.00. SkyWater Technology, Inc. has a 52-week low of $4.73 and a 52-week high of $12.97.

SkyWater Technology (NASDAQ:SKYT) last released its earnings results on Wednesday, May 8th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The business had revenue of $79.64 million for the quarter, compared to analysts’ expectations of $80.00 million. SkyWater Technology had a negative net margin of 10.73% and a negative return on equity of 32.59%. As a group, equities analysts predict that SkyWater Technology, Inc. will post -0.5 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Craig Hallum dropped their target price on shares of SkyWater Technology from $16.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Needham & Company LLC lowered their price objective on shares of SkyWater Technology from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, May 9th.

SkyWater Technology Profile

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.