AQR Capital Management LLC Acquires 77,571 Shares of SkyWater Technology, Inc. (NASDAQ:SKYT)

AQR Capital Management LLC raised its holdings in SkyWater Technology, Inc. (NASDAQ:SKYT) by 183.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 119,828 shares of the company’s stock after acquiring an additional 77,571 shares during the period. AQR Capital Management LLC owned approximately 0.25% of SkyWater Technology worth $917,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of SKYT. Allspring Global Investments Holdings LLC increased its position in shares of SkyWater Technology by 98,866.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 11,876 shares of the company’s stock worth $91,000 after purchasing an additional 11,864 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in SkyWater Technology in the 1st quarter worth approximately $119,000. Squarepoint Ops LLC bought a new position in shares of SkyWater Technology in the 2nd quarter worth $161,000. Renaissance Technologies LLC purchased a new stake in shares of SkyWater Technology during the 2nd quarter valued at $195,000. Finally, Cetera Advisors LLC lifted its holdings in shares of 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 acquiring an additional 1,816 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

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

SkyWater Technology Stock Up 3.0 %

Shares of NASDAQ SKYT opened at $9.64 on Friday. The stock has a market capitalization of $456.45 million, a P/E ratio of -13.97 and a beta of 3.95. SkyWater Technology, Inc. has a one year low of $4.73 and a one year high of $12.97. The firm’s 50 day simple moving average is $8.86 and its two-hundred day simple moving average is $8.55. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.90 and a quick ratio of 0.79.

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

Insider Activity

In other news, Director Loren A. Unterseher sold 2,673 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $10.00, for a total value of $26,730.00. Following the completion of the sale, the director now owns 13,019,620 shares of the company’s stock, valued at approximately $130,196,200. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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.