Emerald Mutual Fund Advisers Trust Lowers Stock Position in SkyWater Technology, Inc. $SKYT

Emerald Mutual Fund Advisers Trust cut its holdings in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) by 74.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 183,263 shares of the company’s stock after selling 545,893 shares during the period. Emerald Mutual Fund Advisers Trust owned approximately 0.37% of SkyWater Technology worth $5,023,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of SkyWater Technology in the fourth quarter valued at about $25,000. Federated Hermes Inc. acquired a new stake in shares of SkyWater Technology in the 2nd quarter worth $25,000. BNP Paribas Financial Markets increased its position in SkyWater Technology by 56.4% during the second quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company’s stock worth $27,000 after purchasing an additional 991 shares during the last quarter. State of Wyoming purchased a new stake in shares of SkyWater Technology during the 4th quarter valued at approximately $35,000. Finally, Russell Investments Group Ltd. raised its position in SkyWater Technology by 814.1% in the third quarter. Russell Investments Group Ltd. now owns 2,468 shares of the company’s stock valued at $46,000 after purchasing an additional 2,198 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Activity

In related news, CFO Steve Manko sold 75,000 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $35.08, for a total transaction of $2,631,000.00. Following the sale, the chief financial officer owned 96,567 shares of the company’s stock, valued at $3,387,570.36. This trade represents a 43.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 22.56% of the stock is owned by corporate insiders.

SkyWater Technology Stock Performance

SKYT opened at $31.81 on Tuesday. SkyWater Technology, Inc. has a 1-year low of $8.49 and a 1-year high of $39.93. The stock has a market cap of $1.57 billion, a P/E ratio of 13.65 and a beta of 3.34. The stock’s 50 day simple moving average is $35.63 and its 200 day simple moving average is $31.29. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.51 and a quick ratio of 0.44.

SkyWater Technology (NASDAQ:SKYT) last released its quarterly earnings data on Friday, May 8th. The company reported ($0.25) EPS for the quarter. The business had revenue of $160.69 million during the quarter. SkyWater Technology had a negative return on equity of 7.88% and a net margin of 21.04%. As a group, equities analysts anticipate that SkyWater Technology, Inc. will post -0.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SKYT. Zacks Research upgraded shares of SkyWater Technology from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of SkyWater Technology in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $32.00.

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.