Harvest Management LLC Buys 63,688 Shares of SkyWater Technology, Inc. $SKYT

Harvest Management LLC raised its stake in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) by 123.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 115,288 shares of the company’s stock after buying an additional 63,688 shares during the quarter. SkyWater Technology makes up about 1.6% of Harvest Management LLC’s holdings, making the stock its 14th largest holding. Harvest Management LLC’s holdings in SkyWater Technology were worth $4,014,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of SkyWater Technology by 12.0% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 45,530 shares of the company’s stock worth $1,585,000 after purchasing an additional 4,893 shares during the period. Hsbc Holdings PLC bought a new position in SkyWater Technology in the 2nd quarter worth $249,000. Pentwater Capital Management LP bought a new position in SkyWater Technology in the 2nd quarter worth $62,920,000. Bank of America Corp DE purchased a new stake in SkyWater Technology in the 2nd quarter worth $11,982,000. Finally, Vazirani Asset Management LLC purchased a new stake in SkyWater Technology in the 2nd quarter worth $1,066,815. Institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of SkyWater Technology in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $32.00.

SkyWater Technology Price Performance

NASDAQ:SKYT opened at $32.46 on Friday. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 13.93 and a beta of 3.39. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.51 and a quick ratio of 0.44. The business has a 50 day simple moving average of $32.80 and a 200-day simple moving average of $32.21. SkyWater Technology, Inc. has a 1 year low of $8.49 and a 1 year high of $39.93.

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 for the quarter. SkyWater Technology had a net margin of 21.04% and a negative return on equity of 7.88%.

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.