84,106 Shares in SkyWater Technology, Inc. $SKYT Acquired by Carmignac Gestion

Carmignac Gestion acquired a new stake in SkyWater Technology, Inc. (NASDAQ:SKYT) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 84,106 shares of the company’s stock, valued at approximately $2,305,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of America Corp DE boosted its position in SkyWater Technology by 7.5% during the first quarter. Bank of America Corp DE now owns 117,856 shares of the company’s stock worth $3,230,000 after purchasing an additional 8,181 shares in the last quarter. California State Teachers Retirement System grew its holdings in SkyWater Technology by 63.2% in the first quarter. California State Teachers Retirement System now owns 46,046 shares of the company’s stock valued at $1,262,000 after purchasing an additional 17,827 shares during the last quarter. Royal Bank of Canada increased its position in shares of SkyWater Technology by 26.7% in the first quarter. Royal Bank of Canada now owns 6,118 shares of the company’s stock valued at $168,000 after buying an additional 1,290 shares in the last quarter. Regal Partners Ltd purchased a new position in shares of SkyWater Technology in the first quarter valued at $266,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of SkyWater Technology during the 1st quarter worth $266,000. 70.00% of the stock is owned by institutional investors and hedge funds.

SkyWater Technology Price Performance

Shares of NASDAQ:SKYT opened at $32.46 on Monday. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.17. SkyWater Technology, Inc. has a 52-week low of $8.49 and a 52-week high of $39.93. The stock’s fifty day simple moving average is $34.66 and its 200-day simple moving average is $32.14. 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 posted its quarterly earnings data on Friday, May 8th. The company reported ($0.25) EPS for the quarter. The company had revenue of $160.69 million for the quarter. SkyWater Technology had a net margin of 21.04% and a negative return on equity of 7.88%. As a group, equities research analysts forecast that SkyWater Technology, Inc. will post -0.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SKYT shares. Zacks Research raised shares of SkyWater Technology from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Weiss Ratings restated a “sell (e+)” rating on shares of SkyWater Technology in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $32.00.

Insider Transactions at SkyWater Technology

In other SkyWater Technology news, CFO Steve Manko sold 75,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $35.08, for a total value of $2,631,000.00. Following the transaction, the chief financial officer directly owned 96,567 shares in the company, valued at approximately $3,387,570.36. This represents a 43.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 22.56% of the company’s stock.

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.