Rhumbline Advisers Has $251,000 Stock Holdings in SkyWater Technology, Inc. (NASDAQ:SKYT)

Rhumbline Advisers boosted its position in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) by 36.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 32,764 shares of the company’s stock after buying an additional 8,731 shares during the quarter. Rhumbline Advisers’ holdings in SkyWater Technology were worth $251,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in SKYT. Janney Montgomery Scott LLC acquired a new stake in SkyWater Technology in the first quarter worth $119,000. Allspring Global Investments Holdings LLC increased its position in shares of SkyWater Technology by 98,866.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 11,876 shares of the company’s stock valued at $91,000 after buying an additional 11,864 shares in the last quarter. Cetera Advisors LLC raised its stake in SkyWater Technology by 9.3% during the 1st quarter. Cetera Advisors LLC now owns 21,391 shares of the company’s stock worth $218,000 after buying an additional 1,816 shares during the period. Gabelli Funds LLC lifted its holdings in SkyWater Technology by 2.1% during the fourth quarter. Gabelli Funds LLC now owns 61,202 shares of the company’s stock worth $589,000 after acquiring an additional 1,275 shares in the last quarter. Finally, Baillie Gifford & Co. grew its stake in SkyWater Technology by 4.4% in the second quarter. Baillie Gifford & Co. now owns 1,007,449 shares of the company’s stock valued at $7,707,000 after acquiring an additional 42,649 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Piper Sandler cut their price target on SkyWater Technology from $14.00 to $9.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th.

SkyWater Technology Trading Down 0.1 %

NASDAQ SKYT opened at $9.04 on Friday. The business’s fifty day moving average is $8.55 and its 200 day moving average is $8.64. SkyWater Technology, Inc. has a twelve month low of $4.73 and a twelve month high of $12.97. The company has a quick ratio of 0.79, a current ratio of 0.90 and a debt-to-equity ratio of 0.66. The company has a market cap of $429.22 million, a price-to-earnings ratio of -13.10 and a beta of 3.96.

SkyWater Technology (NASDAQ:SKYT) last posted its earnings results on Wednesday, August 7th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.12. SkyWater Technology had a negative net margin of 7.88% and a negative return on equity of 21.68%. The company had revenue of $93.33 million during the quarter, compared to the consensus estimate of $82.50 million. As a group, sell-side analysts expect that SkyWater Technology, Inc. will post -0.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other SkyWater Technology news, Director Loren A. Unterseher sold 2,673 shares of SkyWater Technology stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $10.00, for a total transaction of $26,730.00. Following the completion of the transaction, the director now owns 13,019,620 shares of the company’s stock, valued at approximately $130,196,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 42.55% of the company’s stock.

About SkyWater Technology

SkyWater Technology, Inc, together with its subsidiaries, operates as a pure-play technology foundry that engages in the provision of semiconductor development, manufacturing, and packaging services in the United States. 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, micro-electromechanical systems, and rad-hard integrated circuits.