Perkins Capital Management Inc. Sells 107,250 Shares of SkyWater Technology, Inc. $SKYT

Perkins Capital Management Inc. lessened its stake in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) by 80.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 26,400 shares of the company’s stock after selling 107,250 shares during the period. Perkins Capital Management Inc.’s holdings in SkyWater Technology were worth $724,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of SKYT. Quarry LP acquired a new position in SkyWater Technology during the fourth quarter worth $25,000. State of Wyoming acquired a new stake in shares of SkyWater Technology in the 4th quarter valued at $35,000. Russell Investments Group Ltd. boosted 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 purchasing an additional 2,198 shares in the last quarter. Federated Hermes Inc. bought a new stake in shares of SkyWater Technology in the 2nd quarter worth about $25,000. Finally, BNP Paribas Financial Markets increased its position in shares of SkyWater Technology by 56.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company’s stock worth $27,000 after purchasing an additional 991 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

SkyWater Technology Price Performance

Shares of SKYT stock opened at $34.82 on Wednesday. The stock’s fifty day moving average is $35.47 and its 200-day moving average is $30.24. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.44 and a current ratio of 0.51. The stock has a market capitalization of $1.71 billion, a PE ratio of 14.94 and a beta of 3.32. SkyWater Technology, Inc. has a 52 week low of $8.49 and a 52 week high of $39.93.

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

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other SkyWater Technology news, CFO Steve Manko sold 75,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief financial officer owned 96,567 shares in the company, valued at approximately $3,387,570.36. This trade represents a 43.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 22.56% of the company’s stock.

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.