Teton Advisors LLC Cuts Stake in SkyWater Technology, Inc. $SKYT

Teton Advisors LLC lowered its holdings in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) by 39.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 36,484 shares of the company’s stock after selling 24,000 shares during the period. Teton Advisors LLC owned about 0.08% of SkyWater Technology worth $663,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in SKYT. Federated Hermes Inc. purchased a new stake in SkyWater Technology during the second quarter valued at about $25,000. BNP Paribas Financial Markets increased its holdings in shares of SkyWater Technology by 56.4% in the second quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company’s stock worth $27,000 after buying an additional 991 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of SkyWater Technology by 814.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,468 shares of the company’s stock valued at $46,000 after acquiring an additional 2,198 shares during the last quarter. CWM LLC boosted its holdings in SkyWater Technology by 291.3% during 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 period. Finally, NewEdge Advisors LLC boosted its holdings in 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 during the period. 70.00% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Steve Manko sold 75,000 shares of SkyWater Technology stock in a transaction on Monday, May 11th. The shares were sold at an average price of $35.08, for a total value of $2,631,000.00. Following the sale, the chief financial officer owned 96,567 shares in the company, valued at $3,387,570.36. The trade was a 43.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 250,324 shares of company stock valued at $7,728,453 over the last ninety days. Company insiders own 37.85% of the company’s stock.

SkyWater Technology Price Performance

Shares of NASDAQ:SKYT opened at $34.72 on Monday. The stock’s 50-day moving average is $30.43 and its 200 day moving average is $25.84. The company has a market cap of $1.71 billion, a PE ratio of 14.29 and a beta of 3.30. 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, Inc. has a 1 year low of $8.18 and a 1 year high of $36.38.

SkyWater Technology (NASDAQ:SKYT) last issued its quarterly earnings data on Wednesday, May 20th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.17). SkyWater Technology had a negative return on equity of 9.03% and a net margin of 21.04%.The business had revenue of $160.69 million during the quarter, compared to the consensus estimate of $146.07 million. Sell-side analysts anticipate that SkyWater Technology, Inc. will post -0.42 EPS for the current year.

Wall Street Analysts Forecast Growth

SKYT has been the topic of a number of analyst reports. Stifel Nicolaus set a $35.00 price target on SkyWater Technology in a research note on Monday, January 26th. Weiss Ratings restated a “sell (e+)” rating on shares of SkyWater Technology in a report on Friday, March 27th. Zacks Research upgraded shares of SkyWater Technology from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Craig Hallum downgraded shares of SkyWater Technology from a “buy” rating to a “hold” rating and set a $35.00 target price on the stock. in a research note on Tuesday, January 27th. Finally, Piper Sandler lowered shares of SkyWater Technology from an “overweight” rating to a “neutral” rating and upped their price target for the company from $17.00 to $35.00 in a report on Monday, January 26th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.