Emerald Advisers LLC Trims Holdings in SkyWater Technology, Inc. (NASDAQ:SKYT)

Emerald Advisers LLC lowered its position in SkyWater Technology, Inc. (NASDAQ:SKYT) by 6.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 1,094,930 shares of the company’s stock after selling 78,223 shares during the period. Emerald Advisers LLC’s holdings in SkyWater Technology were worth $8,376,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its stake in SkyWater Technology by 98,866.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 11,876 shares of the company’s stock valued at $91,000 after acquiring an additional 11,864 shares during the period. Arlington Capital Management Inc. purchased a new stake in SkyWater Technology in the first quarter valued at $107,000. Olympiad Research LP acquired a new stake in SkyWater Technology during the 4th quarter worth about $108,000. Janney Montgomery Scott LLC purchased a new position in shares of SkyWater Technology during the 1st quarter valued at about $119,000. Finally, Cetera Advisors LLC lifted its holdings in shares of SkyWater Technology by 9.3% in the 1st quarter. Cetera Advisors LLC now owns 21,391 shares of the company’s stock valued at $218,000 after buying an additional 1,816 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Activity

In related news, Director Nancy Fares sold 8,850 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $7.97, for a total transaction of $70,534.50. Following the completion of the transaction, the director now owns 32,073 shares in the company, valued at approximately $255,621.81. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Loren A. Unterseher sold 2,673 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $10.00, for a total value of $26,730.00. Following the transaction, the director now directly owns 13,019,620 shares of the company’s stock, valued at $130,196,200. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Nancy Fares sold 8,850 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $7.97, for a total transaction of $70,534.50. Following the sale, the director now directly owns 32,073 shares of the company’s stock, valued at approximately $255,621.81. The disclosure for this sale can be found here. Company insiders own 42.55% of the company’s stock.

SkyWater Technology Stock Down 1.8 %

SKYT opened at $8.08 on Friday. The company has a fifty day moving average of $8.09 and a two-hundred day moving average of $8.86. The stock has a market capitalization of $383.64 million, a price-to-earnings ratio of -11.71 and a beta of 3.96. SkyWater Technology, Inc. has a fifty-two week low of $4.73 and a fifty-two week high of $12.97. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.79 and a current ratio of 0.90.

SkyWater Technology (NASDAQ:SKYT) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.12. SkyWater Technology had a negative return on equity of 21.68% and a negative net margin of 7.88%. The company had revenue of $93.33 million during the quarter, compared to analysts’ expectations of $82.50 million. On average, research analysts expect that SkyWater Technology, Inc. will post -0.26 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Piper Sandler dropped their target price on SkyWater Technology from $14.00 to $9.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th.

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.