Pentwater Capital Management LP Buys New Shares in SkyWater Technology, Inc. $SKYT

Pentwater Capital Management LP purchased a new stake in SkyWater Technology, Inc. (NASDAQ:SKYT) in the 2nd quarter, Holdings Channel reports. The firm purchased 1,807,000 shares of the company’s stock, valued at approximately $62,920,000. SkyWater Technology makes up 0.4% of Pentwater Capital Management LP’s portfolio, making the stock its 27th largest position.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. KBC Group NV purchased a new stake in SkyWater Technology during the 1st quarter worth $27,000. Quarry LP purchased a new position in shares of SkyWater Technology during the 4th quarter valued at approximately $25,000. State of Wyoming acquired a new stake in shares of SkyWater Technology during the fourth quarter worth approximately $35,000. Russell Investments Group Ltd. increased its stake in shares of SkyWater Technology by 814.1% in the third quarter. Russell Investments Group Ltd. now owns 2,468 shares of the company’s stock worth $46,000 after buying an additional 2,198 shares during the last quarter. Finally, Federated Hermes Inc. acquired a new stake in SkyWater Technology in the second quarter valued at $25,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

SkyWater Technology Stock Performance

SKYT stock opened at $32.46 on Thursday. The company has a 50-day simple moving average of $32.96 and a 200 day simple moving average of $32.20. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $1.60 billion, a P/E ratio of 13.93 and a beta of 3.39. SkyWater Technology, Inc. has a fifty-two week low of $8.49 and a fifty-two week high of $39.93.

SkyWater Technology (NASDAQ:SKYT) last issued its quarterly earnings results on Friday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter. The firm had revenue of $160.69 million for the quarter. SkyWater Technology had a net margin of 21.04% and a negative return on equity of 7.88%.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of SkyWater Technology in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, SkyWater Technology presently has an average rating of “Hold” and a consensus target price of $32.00.

SkyWater Technology Company Profile

SkyWater Technology Solutions, Inc is a U.S.-based specialty semiconductor foundry headquartered in Bloomington, Minnesota. The company focuses on the development and manufacture of high-reliability integrated circuits using advanced processes on 200-millimeter wafers.

SkyWater’s service offerings span analog/mixed-signal, radio frequency (RF), micro-electromechanical systems (MEMS) and advanced packaging technologies. Its turnkey model includes multi-project wafer (MPW) runs, volume production, design enablement support and assembly and test services, enabling customers to take concepts from prototype to market.

Serving aerospace, defense, automotive, industrial, medical and communications sectors, SkyWater supports applications that demand rigorous performance, quality and traceability.