Algert Global LLC Has $795,000 Stake in SkyWater Technology, Inc. (NASDAQ:SKYT)

Algert Global LLC raised its stake in SkyWater Technology, Inc. (NASDAQ:SKYT) by 121.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 57,615 shares of the company’s stock after buying an additional 31,631 shares during the quarter. Algert Global LLC’s holdings in SkyWater Technology were worth $795,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Summit Investment Advisors Inc. raised its position in SkyWater Technology by 64.1% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,849 shares of the company’s stock valued at $39,000 after buying an additional 1,113 shares during the last quarter. BIT Capital GmbH bought a new stake in shares of SkyWater Technology in the 4th quarter worth $143,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of SkyWater Technology in the fourth quarter valued at about $147,000. Entropy Technologies LP bought a new position in shares of SkyWater Technology during the fourth quarter valued at about $151,000. Finally, Wells Fargo & Company MN boosted its holdings in SkyWater Technology by 51.1% during the fourth quarter. Wells Fargo & Company MN now owns 12,826 shares of the company’s stock worth $177,000 after purchasing an additional 4,338 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Insider Activity at SkyWater Technology

In other SkyWater Technology 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 transaction of $104,164.84. Following the completion of the transaction, the director now owns 14,285 shares in the company, valued at $115,851.35. This trade represents a 47.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 37.85% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Needham & Company LLC dropped their target price on shares of SkyWater Technology from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday. TD Cowen cut their price objective on SkyWater Technology from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday.

SkyWater Technology Price Performance

SKYT opened at $7.61 on Friday. The company’s 50-day moving average price is $7.30 and its two-hundred day moving average price is $9.38. The company has a quick ratio of 0.78, a current ratio of 0.87 and a debt-to-equity ratio of 0.53. SkyWater Technology, Inc. has a twelve month low of $5.63 and a twelve month high of $19.00. The stock has a market cap of $365.55 million, a price-to-earnings ratio of -21.74 and a beta of 3.40.

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

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.