K2 Principal Fund L.P. Acquires New Position in SkyWater Technology, Inc. $SKYT

K2 Principal Fund L.P. acquired a new position in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) during the second quarter, HoldingsChannel reports. The fund acquired 130,705 shares of the company’s stock, valued at approximately $4,551,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SKYT. KBC Group NV acquired a new position in SkyWater Technology during the first quarter worth about $27,000. Quarry LP acquired a new stake in shares of SkyWater Technology during the 4th quarter valued at approximately $25,000. State of Wyoming purchased a new stake in shares of SkyWater Technology during the 4th quarter worth approximately $35,000. Russell Investments Group Ltd. boosted its stake in shares of SkyWater Technology by 814.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,468 shares of the company’s stock worth $46,000 after acquiring an additional 2,198 shares in the last quarter. Finally, Federated Hermes Inc. purchased a new stake in shares of SkyWater Technology during the 2nd quarter worth approximately $25,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

SkyWater Technology Stock Performance

NASDAQ:SKYT opened at $32.46 on Wednesday. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.17. The firm has a 50-day moving average price of $33.41 and a two-hundred day moving average price of $32.14. SkyWater Technology, Inc. has a twelve month low of $8.49 and a twelve month high of $39.93. The company has a market capitalization of $1.60 billion, a P/E ratio of 13.93 and a beta of 3.39.

SkyWater Technology (NASDAQ:SKYT) last announced its earnings results on Friday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter. SkyWater Technology had a negative return on equity of 7.88% and a net margin of 21.04%.The business had revenue of $160.69 million for the quarter.

Wall Street Analysts Forecast Growth

SKYT has been the subject of several research analyst reports. Zacks Research raised SkyWater Technology from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SkyWater Technology in a report on Wednesday, June 24th. One equities research 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’s stock. According to data from MarketBeat.com, SkyWater Technology has a consensus rating of “Hold” and a consensus target price of $32.00.

SkyWater Technology Company 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.