Federated Hermes Inc. Trims Stock Holdings in SkyWater Technology, Inc. (NASDAQ:SKYT)

Federated Hermes Inc. lowered its stake in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) by 75.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 20,000 shares of the company’s stock after selling 60,000 shares during the period. Federated Hermes Inc.’s holdings in SkyWater Technology were worth $192,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SKYT. Baillie Gifford & Co. purchased a new position in shares of SkyWater Technology during the 4th quarter valued at about $9,281,000. Emerald Advisers LLC grew its position in shares of SkyWater Technology by 17.4% during the 3rd quarter. Emerald Advisers LLC now owns 1,129,507 shares of the company’s stock valued at $6,800,000 after acquiring an additional 167,290 shares during the period. Emerald Mutual Fund Advisers Trust grew its position in shares of SkyWater Technology by 15.6% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 869,817 shares of the company’s stock valued at $5,236,000 after acquiring an additional 117,081 shares during the period. Victory Capital Management Inc. acquired a new stake in shares of SkyWater Technology during the 3rd quarter valued at about $485,000. Finally, Gamco Investors INC. ET AL grew its position in shares of SkyWater Technology by 280.3% during the 3rd quarter. Gamco Investors INC. ET AL now owns 53,050 shares of the company’s stock valued at $319,000 after acquiring an additional 39,100 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SKYT. Needham & Company LLC raised their target price on SkyWater Technology from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. TD Cowen lifted their price objective on SkyWater Technology from $12.00 to $15.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. Finally, Piper Sandler lifted their price objective on SkyWater Technology from $9.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th.

SkyWater Technology Trading Down 1.3 %

SKYT stock opened at $10.23 on Monday. The company has a current ratio of 1.02, a quick ratio of 0.91 and a debt-to-equity ratio of 0.59. SkyWater Technology, Inc. has a 12-month low of $4.73 and a 12-month high of $12.97. The stock has a market cap of $484.29 million, a price-to-earnings ratio of -15.27 and a beta of 4.18. The business’s 50-day moving average is $10.24 and its 200 day moving average is $8.75.

SkyWater Technology (NASDAQ:SKYT) last posted its quarterly earnings data on Monday, February 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.12. SkyWater Technology had a negative return on equity of 30.58% and a negative net margin of 10.73%. The company had revenue of $79.15 million for the quarter, compared to analysts’ expectations of $74.90 million. On average, sell-side analysts anticipate that SkyWater Technology, Inc. will post -0.05 EPS for the current fiscal year.

Insider Transactions at SkyWater Technology

In other news, CEO Thomas Sonderman sold 18,989 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $10.01, for a total transaction of $190,079.89. Following the transaction, the chief executive officer now directly owns 498,413 shares in the company, valued at approximately $4,989,114.13. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Loren A. Unterseher sold 10,520 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $11.50, for a total transaction of $120,980.00. Following the transaction, the director now directly owns 13,441,773 shares in the company, valued at approximately $154,580,389.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Thomas Sonderman sold 18,989 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $10.01, for a total value of $190,079.89. Following the transaction, the chief executive officer now owns 498,413 shares in the company, valued at $4,989,114.13. The disclosure for this sale can be found here. Insiders have sold a total of 398,218 shares of company stock worth $4,787,187 in the last ninety days. Insiders own 42.55% of the company’s stock.

SkyWater Technology Company 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.