Quantbot Technologies LP Has $1.77 Million Stake in SkyWater Technology, Inc. $SKYT

Quantbot Technologies LP grew its stake in SkyWater Technology, Inc. (NASDAQ:SKYT) by 44,565.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 94,690 shares of the company’s stock after purchasing an additional 94,478 shares during the period. Quantbot Technologies LP’s holdings in SkyWater Technology were worth $1,767,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in SKYT. Federated Hermes Inc. bought a new position in SkyWater Technology in the 2nd quarter valued at approximately $25,000. BNP Paribas Financial Markets lifted its stake in shares of 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 acquiring an additional 991 shares during the last quarter. CWM LLC lifted its stake in shares of SkyWater Technology by 291.3% in the 3rd quarter. CWM LLC now owns 3,138 shares of the company’s stock valued at $59,000 after acquiring an additional 2,336 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of SkyWater Technology by 15.4% during the 2nd quarter. NewEdge Advisors LLC now owns 9,350 shares of the company’s stock valued at $92,000 after acquiring an additional 1,250 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in SkyWater Technology during the 3rd quarter worth $239,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

SkyWater Technology Trading Down 1.8%

NASDAQ SKYT opened at $29.31 on Thursday. The stock’s 50-day simple moving average is $28.66 and its two-hundred day simple moving average is $20.19. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 12.06 and a beta of 3.52. SkyWater Technology, Inc. has a twelve month low of $5.67 and a twelve month high of $36.27. The company has a quick ratio of 0.61, a current ratio of 0.67 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 the consensus estimate of ($0.01) by ($0.02). The business 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 for the quarter was up 13.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.04 earnings per share. Research analysts forecast that SkyWater Technology, Inc. will post -0.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. TD Cowen lowered SkyWater Technology from a “buy” rating to a “hold” rating and lifted their price target for the company from $24.00 to $35.00 in a research note on Tuesday, January 27th. Needham & Company LLC lowered shares of SkyWater Technology from a “buy” rating to a “hold” rating in a research note on Monday, January 26th. Weiss Ratings reissued a “sell (e+)” rating on shares of SkyWater Technology in a research note on Monday, December 29th. Craig Hallum cut 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, Piper Sandler downgraded SkyWater Technology from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $17.00 to $35.00 in a report on Monday, January 26th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, SkyWater Technology presently has a consensus rating of “Hold” and an average target price of $32.00.

About SkyWater Technology

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.