Deutsche Bank AG Increases Position in SkyWater Technology, Inc. (NASDAQ:SKYT)

Deutsche Bank AG grew its stake in SkyWater Technology, Inc. (NASDAQ:SKYT - Free Report) by 605.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 83,605 shares of the company's stock after purchasing an additional 71,750 shares during the period. Deutsche Bank AG owned approximately 0.18% of SkyWater Technology worth $1,154,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SKYT. Summit Investment Advisors Inc. raised its holdings in shares of SkyWater Technology by 64.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,849 shares of the company's stock worth $39,000 after buying an additional 1,113 shares during the period. BNP Paribas Financial Markets purchased a new position in SkyWater Technology during the 4th quarter worth $50,000. BIT Capital GmbH purchased a new position in SkyWater Technology during the 4th quarter worth $143,000. Price T Rowe Associates Inc. MD purchased a new position in SkyWater Technology during the 4th quarter worth $147,000. Finally, Entropy Technologies LP purchased a new position in SkyWater Technology during the 4th quarter worth $151,000. 70.00% of the stock is owned by institutional investors.

SkyWater Technology Stock Down 0.6%

Shares of NASDAQ:SKYT traded down $0.06 on Thursday, reaching $9.14. The company had a trading volume of 508,493 shares, compared to its average volume of 583,203. SkyWater Technology, Inc. has a 52-week low of $5.63 and a 52-week high of $19.00. The firm's 50 day simple moving average is $7.48 and its 200-day simple moving average is $9.27. The firm has a market capitalization of $438.80 million, a PE ratio of -26.14 and a beta of 3.40. The company has a current ratio of 0.87, a quick ratio of 0.78 and a debt-to-equity ratio of 0.53.

SkyWater Technology (NASDAQ:SKYT - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of ($0.06) by $0.10. The firm had revenue of $75.49 million during the quarter, compared to analysts' expectations of $74.25 million. SkyWater Technology had a negative return on equity of 12.40% and a negative net margin of 4.75%. As a group, analysts expect that SkyWater Technology, Inc. will post -0.22 earnings per share for the current fiscal year.

Insider Transactions at SkyWater Technology

In other SkyWater Technology news, Director Gregory B. Graves sold 12,844 shares of SkyWater Technology stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $8.11, for a total transaction of $104,164.84. Following the completion of the transaction, the director now owns 14,285 shares in the company, valued at approximately $115,851.35. This trade represents a 47.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Loren A. Unterseher sold 134,049 shares of SkyWater Technology stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $9.41, for a total value of $1,261,401.09. Following the transaction, the director now owns 11,026,783 shares of the company's stock, valued at $103,762,028.03. The trade was a 1.20% decrease in their position. The disclosure for this sale can be found here. Insiders own 37.85% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on SKYT. TD Cowen reduced their price objective on SkyWater Technology from $15.00 to $12.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Needham & Company LLC cut their price target on SkyWater Technology from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Thursday, May 8th.

About SkyWater Technology

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.