Connor Clark & Lunn Investment Management Ltd. Boosts Stock Position in SkyWater Technology, Inc. (NASDAQ:SKYT)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) by 142.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 53,920 shares of the company’s stock after buying an additional 31,700 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.11% of SkyWater Technology worth $744,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its holdings in SkyWater Technology by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 202,639 shares of the company’s stock valued at $2,796,000 after purchasing an additional 3,321 shares during the period. Quarry LP purchased a new stake in SkyWater Technology during the 3rd quarter valued at $35,000. Entropy Technologies LP purchased a new stake in shares of SkyWater Technology in the 4th quarter worth $151,000. Bank of New York Mellon Corp increased its stake in shares of SkyWater Technology by 21.0% in the 4th quarter. Bank of New York Mellon Corp now owns 67,891 shares of the company’s stock worth $937,000 after purchasing an additional 11,800 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in SkyWater Technology in the 3rd quarter worth $120,000. Institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

Separately, Needham & Company LLC reissued a “buy” rating and set a $12.00 price objective on shares of SkyWater Technology in a report on Thursday, February 27th.

Insider Buying and Selling

In related news, Director Gregory B. Graves sold 12,844 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $8.11, for a total value of $104,164.84. Following the sale, the director now directly owns 14,285 shares of the company’s stock, valued at $115,851.35. This represents a 47.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 42.55% of the stock is currently owned by corporate insiders.

SkyWater Technology Stock Performance

SkyWater Technology stock opened at $7.85 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.87 and a quick ratio of 0.78. SkyWater Technology, Inc. has a 1-year low of $5.63 and a 1-year high of $19.00. The firm has a market capitalization of $376.76 million, a P/E ratio of -22.43 and a beta of 3.38. The company’s 50-day moving average is $9.63 and its 200 day moving average is $9.91.

SkyWater Technology (NASDAQ:SKYT) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.10. SkyWater Technology had a negative net margin of 4.75% and a negative return on equity of 12.40%. The company had revenue of $75.49 million for the quarter, compared to analyst estimates of $74.25 million. Research analysts forecast that SkyWater Technology, Inc. will post -0.22 EPS for the current year.

SkyWater Technology Company Profile

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.