Versor Investments LP Acquires Shares of 24,700 SkyWater Technology, Inc. $SKYT

Versor Investments LP acquired a new stake in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 24,700 shares of the company’s stock, valued at approximately $449,000. Versor Investments LP owned about 0.05% of SkyWater Technology as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC raised its stake in shares of SkyWater Technology by 112.0% during the 1st quarter. AQR Capital Management LLC now owns 313,993 shares of the company’s stock worth $2,226,000 after buying an additional 165,865 shares in the last quarter. Strs Ohio purchased a new position in shares of SkyWater Technology during the 1st quarter worth approximately $173,000. Creative Planning raised its stake in shares of SkyWater Technology by 69.7% during the 2nd quarter. Creative Planning now owns 34,283 shares of the company’s stock worth $337,000 after buying an additional 14,085 shares in the last quarter. Rhumbline Advisers raised its stake in shares of SkyWater Technology by 27.4% during the 2nd quarter. Rhumbline Advisers now owns 47,643 shares of the company’s stock worth $469,000 after buying an additional 10,246 shares in the last quarter. Finally, American Century Companies Inc. purchased a new position in shares of SkyWater Technology during the 2nd quarter worth approximately $377,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Steve Manko sold 91,109 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer directly owned 215,166 shares of the company’s stock, valued at $5,990,221.44. This trade represents a 29.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 250,324 shares of company stock valued at $7,728,453. Company insiders own 37.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SKYT. Piper Sandler downgraded SkyWater Technology from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $17.00 to $35.00 in a research note on Monday, January 26th. TD Cowen downgraded SkyWater Technology from a “buy” rating to a “hold” rating and increased their target price for the stock from $24.00 to $35.00 in a research note on Tuesday, January 27th. Zacks Research raised SkyWater Technology from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Craig Hallum downgraded SkyWater Technology from a “buy” rating to a “hold” rating and set a $35.00 target price for the company. in a research note on Tuesday, January 27th. Finally, Stifel Nicolaus set a $35.00 target price on SkyWater Technology in a research note on Monday, January 26th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $32.00.

SkyWater Technology Stock Performance

NASDAQ SKYT opened at $35.82 on Friday. SkyWater Technology, Inc. has a 1-year low of $7.72 and a 1-year high of $36.38. The company has a market capitalization of $1.76 billion, a P/E ratio of 14.74 and a beta of 3.30. The business has a 50 day moving average price of $30.32 and a 200 day moving average price of $25.72. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.51 and a quick ratio of 0.52.

SkyWater Technology (NASDAQ:SKYT) last released its quarterly earnings data on Wednesday, May 20th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.17). SkyWater Technology had a net margin of 21.04% and a negative return on equity of 9.03%. The firm had revenue of $160.69 million during the quarter, compared to analysts’ expectations of $146.07 million. Sell-side analysts expect that SkyWater Technology, Inc. will post -0.42 EPS for the current fiscal 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.