Los Angeles Capital Management LLC Takes Position in SkyWater Technology, Inc. (NASDAQ:SKYT)

Los Angeles Capital Management LLC bought a new stake in SkyWater Technology, Inc. (NASDAQ:SKYT) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 79,437 shares of the company’s stock, valued at approximately $1,096,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp raised its holdings 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 valued at $937,000 after purchasing an additional 11,800 shares during the period. Baillie Gifford & Co. raised its holdings in shares of SkyWater Technology by 65.4% in the 4th quarter. Baillie Gifford & Co. now owns 1,665,284 shares of the company’s stock valued at $22,981,000 after purchasing an additional 658,431 shares during the period. UNICOM Systems Inc. bought a new stake in shares of SkyWater Technology in the 4th quarter valued at about $1,728,000. Entropy Technologies LP bought a new stake in shares of SkyWater Technology in the 4th quarter valued at about $151,000. Finally, Strategic Blueprint LLC bought a new stake in shares of SkyWater Technology in the 4th quarter valued at about $210,000. 70.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC restated a “buy” rating and set a $12.00 target price on shares of SkyWater Technology in a research note on Thursday.

Insider Activity

In other news, Director Loren A. Unterseher sold 7,761 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $9.27, for a total value of $71,944.47. Following the completion of the sale, the director now owns 12,806,264 shares of the company’s stock, valued at approximately $118,714,067.28. The trade was a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 42.55% of the stock is currently owned by company insiders.

SkyWater Technology Stock Performance

NASDAQ SKYT opened at $9.33 on Friday. The firm has a 50-day moving average of $11.41 and a 200-day moving average of $10.06. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 0.87. The stock has a market cap of $444.63 million, a PE ratio of -26.66 and a beta of 3.37. SkyWater Technology, Inc. has a 52-week low of $5.63 and a 52-week high of $19.00.

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

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.