Erste Asset Management GmbH Buys 250,000 Shares of SkyWater Technology, Inc. $SKYT

Erste Asset Management GmbH grew its stake in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) by 21.7% during the third quarter, Holdings Channel reports. The institutional investor owned 1,400,000 shares of the company’s stock after buying an additional 250,000 shares during the period. Erste Asset Management GmbH’s holdings in SkyWater Technology were worth $25,508,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Federated Hermes Inc. raised its stake in SkyWater Technology by 13,712.9% during the 3rd quarter. Federated Hermes Inc. now owns 347,119 shares of the company’s stock worth $6,477,000 after acquiring an additional 344,606 shares during the period. Ameriprise Financial Inc. increased its stake in shares of SkyWater Technology by 15.7% in the second quarter. Ameriprise Financial Inc. now owns 1,693,056 shares of the company’s stock worth $16,660,000 after purchasing an additional 229,954 shares in the last quarter. Kornitzer Capital Management Inc. KS bought a new stake in shares of SkyWater Technology during the 3rd quarter valued at $4,004,000. AQR Capital Management LLC lifted its stake in shares of SkyWater Technology by 112.0% during the 1st quarter. AQR Capital Management LLC now owns 313,993 shares of the company’s stock valued at $2,226,000 after buying an additional 165,865 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust boosted its holdings in SkyWater Technology by 18.6% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 714,144 shares of the company’s stock worth $7,027,000 after buying an additional 111,847 shares during the period. 70.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SKYT has been the topic of a number of recent analyst reports. Needham & Company LLC cut SkyWater Technology from a “buy” rating to a “hold” rating in a report on Monday, January 26th. Weiss Ratings reissued a “sell (e+)” rating on shares of SkyWater Technology in a research note on Monday, December 29th. Piper Sandler cut SkyWater Technology from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $17.00 to $35.00 in a report on Monday, January 26th. Stifel Nicolaus set a $35.00 price target on SkyWater Technology in a research note on Monday, January 26th. Finally, TD Cowen cut shares of SkyWater Technology from a “buy” rating to a “hold” rating and lifted their price objective for the company from $24.00 to $35.00 in a research report on Tuesday, January 27th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $32.00.

SkyWater Technology Price Performance

Shares of SkyWater Technology stock opened at $30.83 on Friday. The firm has a market cap of $1.50 billion, a PE ratio of 12.69 and a beta of 3.51. The stock has a 50 day moving average of $27.69 and a 200 day moving average of $19.66. The company has a current ratio of 0.67, a quick ratio of 0.61 and a debt-to-equity ratio of 0.17. SkyWater Technology, Inc. has a 12 month low of $5.67 and a 12 month high of $36.27.

SkyWater Technology (NASDAQ:SKYT) last released its quarterly earnings data on Wednesday, February 25th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). The firm had revenue of $171.04 million during the quarter, compared to the consensus estimate of $160.05 million. SkyWater Technology had a negative return on equity of 8.42% and a net margin of 26.90%.The business’s revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.04 EPS. On average, research analysts expect that SkyWater Technology, Inc. will post -0.22 EPS for the current fiscal year.

SkyWater Technology Company 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.