Harbour Capital Advisors LLC Purchases Shares of 28,240 SkyWater Technology, Inc. $SKYT

Harbour Capital Advisors LLC purchased a new stake in SkyWater Technology, Inc. (NASDAQ:SKYT) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 28,240 shares of the company’s stock, valued at approximately $513,000. Harbour Capital Advisors LLC owned about 0.06% of SkyWater Technology as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Federated Hermes Inc. acquired a new position in shares of SkyWater Technology during the 2nd quarter worth about $25,000. BNP Paribas Financial Markets grew its holdings in SkyWater Technology by 56.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company’s stock valued at $27,000 after buying an additional 991 shares during the last quarter. Russell Investments Group Ltd. increased its position in SkyWater Technology by 814.1% in 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 increased its position in SkyWater Technology by 291.3% in 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 lifted its holdings in shares of SkyWater Technology by 15.4% during the second quarter. NewEdge Advisors LLC now owns 9,350 shares of the company’s stock worth $92,000 after buying an additional 1,250 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors.

SkyWater Technology Stock Performance

Shares of NASDAQ SKYT opened at $27.54 on Friday. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 11.33 and a beta of 3.52. SkyWater Technology, Inc. has a one year low of $5.67 and a one year high of $36.27. The business has a fifty day simple moving average of $29.98 and a 200 day simple moving average of $21.50. The company has a current ratio of 0.60, a quick ratio of 0.52 and a debt-to-equity ratio of 0.17.

SkyWater Technology (NASDAQ:SKYT) last posted its quarterly earnings results on Wednesday, February 25th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). SkyWater Technology had a negative return on equity of 6.89% and a net margin of 26.90%.The business had revenue of $171.04 million for the quarter, compared to analyst estimates of $160.05 million. During the same quarter in the prior year, the firm earned $0.04 EPS. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. Sell-side analysts expect that SkyWater Technology, Inc. will post -0.22 EPS for the current year.

Wall Street Analysts Forecast Growth

SKYT has been the topic of several research analyst reports. TD Cowen downgraded shares of SkyWater Technology from a “buy” rating to a “hold” rating and raised their price objective for the stock from $24.00 to $35.00 in a research note on Tuesday, January 27th. Stifel Nicolaus set a $35.00 target price on shares of SkyWater Technology in a research note on Monday, January 26th. Piper Sandler downgraded shares of SkyWater Technology from an “overweight” rating to a “neutral” rating and increased their price target for the company from $17.00 to $35.00 in a report on Monday, January 26th. 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. Finally, Zacks Research downgraded shares of SkyWater Technology from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 4th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, SkyWater Technology currently has an average rating of “Reduce” and a consensus price target of $32.00.

Insider Buying and Selling at SkyWater Technology

In related news, CFO Steve Manko sold 91,109 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $27.84, for a total value of $2,536,474.56. Following the sale, the chief financial officer owned 215,166 shares of the company’s stock, valued at $5,990,221.44. The trade was a 29.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 37.85% of the company’s stock.

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.