Perkins Capital Management Inc. Sells 7,000 Shares of SkyWater Technology, Inc. (NASDAQ:SKYT)

Perkins Capital Management Inc. reduced its holdings in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) by 6.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 104,750 shares of the company’s stock after selling 7,000 shares during the quarter. Perkins Capital Management Inc.’s holdings in SkyWater Technology were worth $951,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Cetera Advisors LLC lifted its holdings in shares of SkyWater Technology by 9.3% in the first 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. Victory Capital Management Inc. increased its position in SkyWater Technology by 4.2% during the 2nd quarter. Victory Capital Management Inc. now owns 95,150 shares of the company’s stock worth $728,000 after purchasing an additional 3,850 shares in the last quarter. Allworth Financial LP bought a new position in SkyWater Technology in the 3rd quarter valued at approximately $41,000. XTX Topco Ltd boosted its position in SkyWater Technology by 19.5% in the second quarter. XTX Topco Ltd now owns 30,836 shares of the company’s stock valued at $236,000 after buying an additional 5,038 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of SkyWater Technology during the third quarter worth $60,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Loren A. Unterseher sold 2,673 shares of the firm’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 transaction 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 $130,196,200. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 42.55% of the company’s stock.

SkyWater Technology Stock Up 2.5 %

NASDAQ:SKYT opened at $9.89 on Thursday. SkyWater Technology, Inc. has a one year low of $5.23 and a one year high of $12.97. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.90 and a quick ratio of 0.79. The company has a market cap of $469.58 million, a PE ratio of -18.31 and a beta of 3.92. The firm’s 50 day simple moving average is $9.30 and its 200 day simple moving average is $8.59.

SkyWater Technology (NASDAQ:SKYT) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $82.50 million. On average, research analysts anticipate that SkyWater Technology, Inc. will post -0.29 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Piper Sandler increased their price target on SkyWater Technology from $9.00 to $12.00 and gave the company an “overweight” rating in a research note on Friday, October 25th.

SkyWater Technology 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.