Tudor Investment Corp ET AL Takes Position in SkyWater Technology, Inc. $SKYT

Key Points

• Tudor Investment Corp ET AL acquired 64,420 shares of SkyWater Technology (NASDAQ:SKYT) in Q3, a new stake valued at about $1.20 million that represents roughly 0.13% of the company.
• Analysts have a consensus rating of "Reduce" with an average price target of $32.00 (breakdown: 1 Buy, 5 Hold, 2 Sell), reflecting mixed views despite recent revenue growth.
• CFO Steve Manko sold 91,109 shares at an average price of $27.84 for about $2.54 million—reducing his position by ~29.8%—while insiders collectively still own 37.85% of the stock.

Tudor Investment Corp ET AL acquired a new stake in shares of SkyWater Technology, Inc. (NASDAQ:SKYT - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 64,420 shares of the company's stock, valued at approximately $1,202,000. Tudor Investment Corp ET AL owned about 0.13% of SkyWater Technology as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in SKYT. Federated Hermes Inc. acquired a new stake in shares of SkyWater Technology during the second quarter valued at $25,000. BNP Paribas Financial Markets boosted its stake in shares of SkyWater Technology by 56.4% during the second quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company's stock valued at $27,000 after acquiring an additional 991 shares during the last quarter. Russell Investments Group Ltd. boosted 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 valued at $46,000 after acquiring an additional 2,198 shares during the last quarter. CWM LLC boosted its stake in shares of SkyWater Technology by 291.3% during the third quarter. CWM LLC now owns 3,138 shares of the company's stock valued at $59,000 after acquiring an additional 2,336 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of SkyWater Technology by 15.4% during the second quarter. NewEdge Advisors LLC now owns 9,350 shares of the company's stock valued at $92,000 after acquiring an additional 1,250 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on SKYT. TD Cowen lowered SkyWater Technology from a "buy" rating to a "hold" rating and increased their price objective for the company from $24.00 to $35.00 in a research note on Tuesday, January 27th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of SkyWater Technology in a research note on Friday, March 27th. Needham & Company LLC lowered SkyWater Technology from a "buy" rating to a "hold" rating in a research note on Monday, January 26th. Zacks Research lowered SkyWater Technology from a "hold" rating to a "strong sell" rating in a research note on Wednesday, March 4th. Finally, Stifel Nicolaus set a $35.00 price objective on SkyWater Technology in a research note on Monday, January 26th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Reduce" and a consensus price target of $32.00.

SkyWater Technology Stock Up 1.1%

Shares of NASDAQ:SKYT opened at $29.10 on Tuesday. The stock's 50-day moving average price is $28.68 and its two-hundred day moving average price is $23.44. The company has a current ratio of 0.60, a quick ratio of 0.52 and a debt-to-equity ratio of 0.17. SkyWater Technology, Inc. has a 12-month low of $6.34 and a 12-month high of $36.27. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 11.98 and a beta of 3.47.

SkyWater Technology (NASDAQ:SKYT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.02). SkyWater Technology had a negative return on equity of 6.89% and a net margin of 26.90%.The business had revenue of $171.04 million during the quarter, compared to analyst estimates of $160.05 million. During the same period in the previous year, the business posted $0.04 earnings per share. The firm's quarterly revenue was up 13.5% on a year-over-year basis. On average, research analysts forecast that SkyWater Technology, Inc. will post -0.22 EPS for the current year.

Insider Transactions at SkyWater Technology

In other SkyWater Technology news, CFO Steve Manko sold 91,109 shares of the firm's stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $27.84, for a total value of $2,536,474.56. Following the sale, the chief financial officer directly owned 215,166 shares of the company's stock, valued at approximately $5,990,221.44. This trade represents a 29.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 37.85% of the company's stock.

SkyWater Technology Profile

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.

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