Cubist Systematic Strategies LLC Invests $464,000 in SkyWater Technology, Inc. $SKYT

Key Points

• Cubist Systematic Strategies LLC has acquired 65,397 shares of SkyWater Technology, Inc., valued at approximately $464,000, reflecting their interest as an institutional investor.
• The stock is currently trading at $9.84, down 5.7%, with a market capitalization of $474.09 million and a price-to-earnings ratio of -28.94.
• Recent analyst upgrades include a change from a "sell" to a "hold" rating by Wall Street Zen, and Needham & Company has increased the price target from $11.00 to $15.00, giving the stock a "buy" rating.

Cubist Systematic Strategies LLC bought a new stake in shares of SkyWater Technology, Inc. (NASDAQ:SKYT - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 65,397 shares of the company's stock, valued at approximately $464,000. Cubist Systematic Strategies LLC owned approximately 0.14% of SkyWater Technology as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. BNP Paribas Financial Markets bought a new position in shares of SkyWater Technology during the fourth quarter valued at approximately $50,000. GAMMA Investing LLC increased its position in shares of SkyWater Technology by 941.3% during the first quarter. GAMMA Investing LLC now owns 4,613 shares of the company's stock valued at $33,000 after acquiring an additional 4,170 shares in the last quarter. CWM LLC increased its position in shares of SkyWater Technology by 320.2% during the first quarter. CWM LLC now owns 5,719 shares of the company's stock valued at $41,000 after acquiring an additional 4,358 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new stake in shares of SkyWater Technology during the fourth quarter valued at approximately $147,000. Finally, Sherbrooke Park Advisers LLC bought a new stake in shares of SkyWater Technology during the fourth quarter valued at approximately $170,000. Institutional investors own 70.00% of the company's stock.

Wall Street Analysts Forecast Growth

SKYT has been the topic of a number of research analyst reports. Needham & Company LLC upped their price target on SkyWater Technology from $11.00 to $15.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Wall Street Zen raised SkyWater Technology from a "sell" rating to a "hold" rating in a report on Friday, September 5th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $13.00.

Insider Activity at SkyWater Technology

In related news, Director Loren A. Unterseher sold 188,976 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $10.47, for a total value of $1,978,578.72. Following the sale, the director owned 7,171,626 shares in the company, valued at approximately $75,086,924.22. This trade represents a 2.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Thomas Sonderman sold 8,355 shares of the firm's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $10.58, for a total transaction of $88,395.90. Following the completion of the sale, the chief executive officer owned 532,174 shares in the company, valued at $5,630,400.92. This represents a 1.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,072,822 shares of company stock worth $36,383,762 in the last 90 days. 37.85% of the stock is currently owned by corporate insiders.

SkyWater Technology Stock Performance

SKYT stock traded up $0.13 on Tuesday, hitting $11.51. The company had a trading volume of 1,323,685 shares, compared to its average volume of 1,168,186. SkyWater Technology, Inc. has a 12-month low of $5.67 and a 12-month high of $19.00. The company has a current ratio of 1.06, a quick ratio of 0.97 and a debt-to-equity ratio of 0.68. The stock's 50-day simple moving average is $10.86 and its 200 day simple moving average is $9.11. The stock has a market cap of $554.55 million, a price-to-earnings ratio of -33.85 and a beta of 3.41.

SkyWater Technology Profile

SkyWater Technology, Inc, together with its subsidiaries, operates as a pure-play technology foundry that engages in the provision of semiconductor development, manufacturing, and packaging services in the United States. The company offers engineering and process development support services to co-create technologies with customers; and semiconductor manufacturing services for various silicon-based analog and mixed-signal, micro-electromechanical systems, and rad-hard integrated circuits.