SkyWater Technology, Inc. $SKYT Shares Purchased by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in SkyWater Technology, Inc. (NASDAQ:SKYT) by 199.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 185,000 shares of the company’s stock after buying an additional 123,178 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in SkyWater Technology were worth $5,071,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. KBC Group NV purchased a new position in shares of SkyWater Technology in the 1st quarter valued at about $27,000. Quarry LP purchased a new position in SkyWater Technology in the fourth quarter valued at approximately $25,000. State of Wyoming acquired a new stake in SkyWater Technology during the fourth quarter worth approximately $35,000. Russell Investments Group Ltd. lifted its position in shares of SkyWater Technology by 814.1% during 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 last quarter. Finally, Federated Hermes Inc. purchased a new stake in shares of SkyWater Technology during the 2nd quarter worth approximately $25,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

SkyWater Technology Trading Down 1.9%

SKYT opened at $30.58 on Thursday. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.17. SkyWater Technology, Inc. has a 52 week low of $8.49 and a 52 week high of $39.93. The business’s 50 day moving average is $34.84 and its two-hundred day moving average is $32.11. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 13.12 and a beta of 3.34.

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

Wall Street Analysts Forecast Growth

SKYT has been the topic of several research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of SkyWater Technology in a research note on Wednesday, June 24th. Zacks Research upgraded shares of SkyWater Technology from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $32.00.

Insider Buying and Selling

In related news, CFO Steve Manko sold 75,000 shares of the company’s 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 completion of the sale, the chief financial officer owned 96,567 shares in the company, valued at $3,387,570.36. This represents a 43.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 22.56% of the stock is currently owned by company insiders.

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.