Ethic Inc. Invests $221,000 in SkyWater Technology, Inc. (NASDAQ:SKYT)

Ethic Inc. purchased a new position in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,008 shares of the company’s stock, valued at approximately $221,000.

Several other large investors have also modified their holdings of SKYT. Barclays PLC raised its stake in shares of SkyWater Technology by 167.0% during the third quarter. Barclays PLC now owns 47,204 shares of the company’s stock worth $429,000 after purchasing an additional 29,523 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of SkyWater Technology during the fourth quarter worth approximately $225,000. Strategic Blueprint LLC purchased a new stake in shares of SkyWater Technology during the fourth quarter worth approximately $210,000. Entropy Technologies LP purchased a new stake in shares of SkyWater Technology during the fourth quarter worth approximately $151,000. Finally, UNICOM Systems Inc. acquired a new position in SkyWater Technology during the fourth quarter worth $1,728,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

SkyWater Technology Trading Up 9.1%

Shares of SKYT stock opened at $8.89 on Friday. The business’s fifty day moving average price is $7.32 and its 200 day moving average price is $9.30. SkyWater Technology, Inc. has a 1-year low of $5.63 and a 1-year high of $19.00. The firm has a market capitalization of $427.03 million, a PE ratio of -25.40 and a beta of 3.40. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.87 and a quick ratio of 0.78.

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, topping analysts’ consensus estimates of ($0.06) by $0.10. The firm had revenue of $75.49 million for the quarter, compared to analyst estimates of $74.25 million. SkyWater Technology had a negative return on equity of 12.40% and a negative net margin of 4.75%. As a group, sell-side analysts forecast that SkyWater Technology, Inc. will post -0.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SKYT shares. Needham & Company LLC dropped their price objective on SkyWater Technology from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. TD Cowen dropped their price objective on SkyWater Technology from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, May 8th.

Insider Buying and Selling at SkyWater Technology

In other SkyWater Technology news, Director Gregory B. Graves sold 12,844 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $8.11, for a total value of $104,164.84. Following the sale, the director now owns 14,285 shares of the company’s stock, valued at approximately $115,851.35. This represents a 47.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 37.85% of the stock is owned by corporate insiders.

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.