135,600 Shares in SkyWater Technology, Inc. $SKYT Acquired by GABELLI & Co INVESTMENT ADVISERS INC.

Key Points

• GABELLI & Co INVESTMENT ADVISERS INC. opened a new position in SkyWater Technology during the first quarter, buying 135,600 shares valued at about $3.7 million. The stake represents roughly 0.28% of the company.
• SkyWater Technology insider activity included a sale by CFO Steve Manko, who sold 75,000 shares for about $2.63 million under a pre-arranged trading plan. After the sale, he still held 96,567 shares, and insiders overall own about 22.56% of the company.
• The stock was recently trading around $30.62, below its 50-day average of $35.05, after the company reported EPS of -$0.25 on revenue of $160.69 million for the quarter. Analysts currently rate the stock a Hold on average, with a consensus price target of $32.00.

GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in shares of SkyWater Technology, Inc. (NASDAQ:SKYT - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 135,600 shares of the company's stock, valued at approximately $3,717,000. GABELLI & Co INVESTMENT ADVISERS INC. owned approximately 0.28% of SkyWater Technology as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Quarry LP acquired a new position in shares of SkyWater Technology in the fourth quarter worth $25,000. Federated Hermes Inc. acquired a new stake in shares of SkyWater Technology in the second quarter valued at $25,000. KBC Group NV acquired a new stake in shares of SkyWater Technology in the first quarter valued at $27,000. BNP Paribas Financial Markets boosted its holdings in SkyWater Technology by 56.4% in the second quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company's stock valued at $27,000 after purchasing an additional 991 shares during the period. Finally, State of Wyoming purchased a new position in SkyWater Technology in the fourth quarter valued at $35,000. Hedge funds and other institutional investors own 70.00% of the company's stock.

Insiders Place Their Bets

In other SkyWater Technology 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 22.56% of the stock is currently owned by company insiders.

SkyWater Technology Stock Down 0.3%

Shares of NASDAQ:SKYT opened at $30.62 on Friday. The company has a market capitalization of $1.51 billion, a PE ratio of 13.14 and a beta of 3.34. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.17. SkyWater Technology, Inc. has a twelve month low of $8.49 and a twelve month high of $39.93. The firm has a 50 day simple moving average of $35.05 and a 200-day simple moving average of $31.99.

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SKYT. Weiss Ratings restated a "sell (e+)" rating on shares of SkyWater Technology in a report on Wednesday, June 24th. Zacks Research upgraded SkyWater Technology from a "strong sell" rating to a "hold" rating in a research note on Monday, April 27th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock 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.

Want to see what other hedge funds are holding SKYT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SkyWater Technology, Inc. (NASDAQ:SKYT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.