Man Group plc Makes New Investment in SkyWater Technology, Inc. $SKYT

Man Group plc acquired a new position in SkyWater Technology, Inc. (NASDAQ:SKYT) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 667,091 shares of the company’s stock, valued at approximately $23,228,000. Man Group plc owned 1.36% of SkyWater Technology at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of SKYT. Quarry LP bought a new stake in SkyWater Technology during the 4th quarter valued at $25,000. Federated Hermes Inc. purchased a new stake in SkyWater Technology during the 2nd quarter worth approximately $25,000. KBC Group NV acquired a new position in shares of SkyWater Technology in the 1st quarter valued at $27,000. BNP Paribas Financial Markets lifted its position in SkyWater Technology by 56.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company’s stock worth $27,000 after acquiring an additional 991 shares during the period. Finally, State of Wyoming acquired a new stake in shares of SkyWater Technology during the fourth quarter worth about $35,000. Institutional investors own 70.00% of the company’s stock.

SkyWater Technology Price Performance

Shares of SKYT opened at $32.46 on Thursday. The business’s 50-day moving average is $32.96 and its two-hundred day moving average is $32.20. The company has a market capitalization of $1.60 billion, a P/E ratio of 13.93 and a beta of 3.39. 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, Inc. has a fifty-two week low of $8.49 and a fifty-two week high of $39.93.

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of SkyWater Technology in a report on Wednesday, June 24th. One 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’s stock. According to MarketBeat, SkyWater Technology has an average 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.