11,484 Shares in SkyWater Technology, Inc. (NASDAQ:SKYT) Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company purchased a new stake in SkyWater Technology, Inc. (NASDAQ:SKYT) during the 2nd quarter, HoldingsChannel reports. The firm purchased 11,484 shares of the company’s stock, valued at approximately $88,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its holdings in 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 purchasing an additional 11,864 shares during the period. Janney Montgomery Scott LLC acquired a new stake in SkyWater Technology in the 1st quarter valued at $119,000. Squarepoint Ops LLC acquired a new stake in shares of SkyWater Technology in the 2nd quarter valued at $161,000. Renaissance Technologies LLC acquired a new position in SkyWater Technology in the second quarter valued at about $195,000. Finally, Cetera Advisors LLC grew its position 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 acquiring an additional 1,816 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Piper Sandler lowered their price objective on shares of SkyWater Technology from $14.00 to $9.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th.

SkyWater Technology Trading Down 0.2 %

NASDAQ:SKYT opened at $9.82 on Monday. The firm has a market capitalization of $464.98 million, a price-to-earnings ratio of -14.23 and a beta of 3.95. The business’s 50-day moving average price is $9.15 and its two-hundred day moving average price is $8.53. The company has a current ratio of 0.90, a quick ratio of 0.79 and a debt-to-equity ratio of 0.66. SkyWater Technology, Inc. has a 1-year low of $4.73 and a 1-year high of $12.97.

SkyWater Technology (NASDAQ:SKYT) last issued its quarterly earnings data 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 return on equity of 21.68% and a negative net margin of 7.88%. The business had revenue of $93.33 million for the quarter, compared to the consensus estimate of $82.50 million. On average, equities analysts expect that SkyWater Technology, Inc. will post -0.26 earnings per share for the current year.

Insider Transactions at SkyWater Technology

In related news, Director Loren A. Unterseher sold 2,673 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now directly owns 13,019,620 shares in the company, valued at approximately $130,196,200. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 42.55% of the stock is currently owned by insiders.

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.