TCG Advisory Services LLC Buys New Shares in SkyWater Technology, Inc. (NASDAQ:SKYT)

TCG Advisory Services LLC bought a new stake in shares of SkyWater Technology, Inc. (NASDAQ:SKYTGet Rating) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 46,000 shares of the company’s stock, valued at approximately $277,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Rhumbline Advisers bought a new position in shares of SkyWater Technology during the 2nd quarter valued at $89,000. JPMorgan Chase & Co. boosted its position in SkyWater Technology by 50.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,781 shares of the company’s stock valued at $35,000 after buying an additional 1,950 shares during the period. Avantax Advisory Services Inc. purchased a new stake in SkyWater Technology during the 2nd quarter valued at $95,000. State Street Corp boosted its position in SkyWater Technology by 4.4% during the 1st quarter. State Street Corp now owns 164,079 shares of the company’s stock valued at $1,777,000 after buying an additional 6,887 shares during the period. Finally, Mairs & Power Inc. boosted its position in SkyWater Technology by 47.4% during the 1st quarter. Mairs & Power Inc. now owns 204,511 shares of the company’s stock valued at $2,215,000 after buying an additional 65,758 shares during the period. Institutional investors own 10.18% of the company’s stock.

Insider Activity at SkyWater Technology

In related news, CRO Mark Litecky sold 67,645 shares of SkyWater Technology stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $11.53, for a total transaction of $779,946.85. Following the completion of the transaction, the executive now directly owns 454,117 shares of the company’s stock, valued at approximately $5,235,969.01. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CRO Mark Litecky sold 67,645 shares of SkyWater Technology stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $11.53, for a total transaction of $779,946.85. Following the completion of the transaction, the executive now directly owns 454,117 shares of the company’s stock, valued at approximately $5,235,969.01. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Bart L. Zibrowski sold 26,107 shares of SkyWater Technology stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $10.08, for a total transaction of $263,158.56. Following the transaction, the insider now directly owns 5,172,976 shares of the company’s stock, valued at $52,143,598.08. The disclosure for this sale can be found here. Insiders sold a total of 479,825 shares of company stock valued at $5,106,347 in the last three months. Company insiders own 72.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SKYT. Cowen increased their price target on shares of SkyWater Technology from $12.00 to $20.00 and gave the company an “outperform” rating in a research report on Tuesday, August 16th. Craig Hallum dropped their price target on shares of SkyWater Technology to $14.00 in a research report on Tuesday, November 15th. Cowen increased their price target on shares of SkyWater Technology from $12.00 to $20.00 and gave the company an “outperform” rating in a research report on Tuesday, August 16th. Needham & Company LLC increased their price target on shares of SkyWater Technology from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, August 16th. Finally, Piper Sandler raised their target price on shares of SkyWater Technology from $10.00 to $18.00 and gave the stock an “overweight” rating in a research report on Monday, August 15th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $18.40.

SkyWater Technology Trading Up 0.8 %

Shares of NASDAQ:SKYT traded up $0.07 on Thursday, hitting $9.37. The company had a trading volume of 186,945 shares, compared to its average volume of 335,823. The firm’s 50-day simple moving average is $8.29 and its two-hundred day simple moving average is $9.39. SkyWater Technology, Inc. has a 1 year low of $4.43 and a 1 year high of $20.95. The company has a quick ratio of 0.89, a current ratio of 1.06 and a debt-to-equity ratio of 2.01. The firm has a market capitalization of $389.98 million, a price-to-earnings ratio of -5.86 and a beta of 4.74.

SkyWater Technology (NASDAQ:SKYTGet Rating) last posted its earnings results on Monday, November 7th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.15. SkyWater Technology had a negative net margin of 34.12% and a negative return on equity of 108.66%. The firm had revenue of $52.33 million during the quarter, compared to analysts’ expectations of $52.35 million. Equities analysts anticipate that SkyWater Technology, Inc. will post -1.05 earnings per share for the current fiscal year.

SkyWater Technology Company Profile

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SkyWater Technology, Inc, together with its subsidiaries, provides semiconductor development and manufacturing services. The company offers engineering and process development support services to co-create technologies with customers; and semiconductor manufacturing services for various silicon-based analog and mixed-signal, power discrete, microelectromechanical systems, and rad-hard integrated circuits.

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

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