Marshall Wace LLP Makes New Investment in SkyWater Technology, Inc. (NASDAQ:SKYT)

Marshall Wace LLP bought a new position in SkyWater Technology, Inc. (NASDAQ:SKYT) during the 2nd quarter, Holdings Channel.com reports. The fund bought 34,226 shares of the company’s stock, valued at approximately $980,000.

A number of other large investors have also recently made changes to their positions in the business. Marshall Wace North America L.P. purchased a new position in SkyWater Technology in the second quarter worth about $379,000. Morgan Stanley purchased a new position in SkyWater Technology in the second quarter worth about $134,000. Wells Fargo & Company MN purchased a new position in SkyWater Technology in the second quarter worth about $12,871,000. Woodline Partners LP purchased a new position in SkyWater Technology in the second quarter worth about $2,357,000. Finally, Zimmer Partners LP purchased a new position in SkyWater Technology in the second quarter worth about $573,000. 19.28% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have issued reports on SKYT. Needham & Company LLC dropped their target price on SkyWater Technology from $32.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, November 4th. Jefferies Financial Group cut SkyWater Technology from a “buy” rating to a “hold” rating and lowered their price objective for the company from $27.00 to $23.00 in a research report on Thursday, August 5th. Finally, Zacks Investment Research cut SkyWater Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, November 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $24.75.

SKYT stock opened at $19.63 on Thursday. SkyWater Technology, Inc. has a twelve month low of $14.25 and a twelve month high of $36.80. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.52 and a current ratio of 1.42. The company’s 50-day moving average is $26.78.

SkyWater Technology (NASDAQ:SKYT) last issued its earnings results on Wednesday, November 3rd. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.15). SkyWater Technology had a negative net margin of 21.91% and a negative return on equity of 93.99%. As a group, equities analysts forecast that SkyWater Technology, Inc. will post -1.18 earnings per share for the current fiscal year.

SkyWater Technology Profile

SkyWater Technology, Inc manufactures integrated circuits. The company provides technology services for various microelectronics comprising integrated circuits (ICs); and related micro- and nanotechnology applications. It serves customers developing and manufacturing ICs in various markets, including aerospace and defense, automotive, computing and cloud, consumer, industrial, and medical.

Read More: How Do You Make Money With Penny Stocks?

Want to see what other hedge funds are holding SKYT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SkyWater Technology, Inc. (NASDAQ:SKYT).

Institutional Ownership by Quarter for SkyWater Technology (NASDAQ:SKYT)

Receive News & Ratings for SkyWater Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SkyWater Technology and related companies with MarketBeat.com's FREE daily email newsletter.