Emerald Advisers LLC Sells 1,032,346 Shares of SkyWater Technology, Inc. $SKYT

Key Points

• Emerald Advisers LLC cut its SkyWater Technology stake by 78.3% in the first quarter, selling 1,032,346 shares and leaving it with 286,767 shares worth about $7.86 million.
• SkyWater Technology also saw activity from other institutions, while insiders remain significant owners at 22.56% and institutional investors hold about 70% of the stock.
• Analyst sentiment is mixed: the stock has a Hold consensus and a $32.00 price target, even as shares traded up 1.7% to $32.35; the company recently reported -$0.25 EPS on revenue of $160.69 million.

Emerald Advisers LLC decreased its holdings in shares of SkyWater Technology, Inc. (NASDAQ:SKYT - Free Report) by 78.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 286,767 shares of the company's stock after selling 1,032,346 shares during the quarter. Emerald Advisers LLC owned 0.58% of SkyWater Technology worth $7,860,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Federated Hermes Inc. bought a new stake in shares of SkyWater Technology during the 2nd quarter valued at approximately $25,000. Quarry LP bought a new position in SkyWater Technology in the 4th quarter valued at approximately $25,000. BNP Paribas Financial Markets boosted its position 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 buying an additional 991 shares in the last quarter. State of Wyoming acquired a new stake in SkyWater Technology in the fourth quarter valued at approximately $35,000. Finally, Russell Investments Group Ltd. grew its stake in shares of SkyWater Technology by 814.1% during the third 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. Institutional investors own 70.00% of the company's stock.

Insider Buying and Selling at SkyWater Technology

In other SkyWater Technology news, CFO Steve Manko sold 75,000 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The stock was 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 of the company's stock, valued at approximately $3,387,570.36. This trade represents a 43.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 22.56% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Zacks Research upgraded shares of SkyWater Technology from a "strong sell" rating to a "hold" rating in a report on Monday, April 27th. Weiss Ratings reissued a "sell (e+)" rating on shares of SkyWater Technology in a report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, SkyWater Technology presently has an average rating of "Hold" and a consensus price target of $32.00.

SkyWater Technology Trading Up 1.7%

Shares of NASDAQ SKYT opened at $32.35 on Wednesday. The firm has a 50 day moving average price of $35.61 and a two-hundred day moving average price of $31.39. The stock has a market cap of $1.59 billion, a P/E ratio of 13.88 and a beta of 3.34. SkyWater Technology, Inc. has a 52-week low of $8.49 and a 52-week high of $39.93. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.44 and a current ratio of 0.51.

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

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.

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.