Hillsdale Investment Management Inc. Buys Shares of 24,500 SkyWater Technology, Inc. (NASDAQ:SKYT)

Hillsdale Investment Management Inc. bought a new position in SkyWater Technology, Inc. (NASDAQ:SKYT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 24,500 shares of the company’s stock, valued at approximately $338,000. Hillsdale Investment Management Inc. owned about 0.05% of SkyWater Technology at the end of the most recent quarter.

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

Insider Buying and Selling

In other SkyWater Technology news, Director Gregory B. Graves sold 12,844 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $8.11, for a total transaction of $104,164.84. Following the completion of the transaction, the director now owns 14,285 shares in the company, valued at approximately $115,851.35. This trade represents a 47.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 42.55% of the stock is owned by insiders.

SkyWater Technology Price Performance

SKYT stock opened at $8.14 on Tuesday. The company has a market capitalization of $390.68 million, a P/E ratio of -23.26 and a beta of 3.38. The company has a fifty day moving average price of $9.57 and a 200-day moving average price of $9.93. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 0.87. SkyWater Technology, Inc. has a 52-week low of $5.63 and a 52-week high of $19.00.

SkyWater Technology (NASDAQ:SKYT) last announced its earnings results 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. SkyWater Technology had a negative return on equity of 12.40% and a negative net margin of 4.75%. The business had revenue of $75.49 million during the quarter, compared to analyst estimates of $74.25 million. As a group, equities analysts expect that SkyWater Technology, Inc. will post -0.22 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reissued a “buy” rating and set a $12.00 price target on shares of SkyWater Technology in a research note on Thursday, February 27th.

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.