SkyWater Technology, Inc. (NASDAQ:SKYT) Shares Sold by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. trimmed its position in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) by 8.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,640 shares of the company’s stock after selling 1,931 shares during the period. Balyasny Asset Management L.P.’s holdings in SkyWater Technology were worth $285,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Summit Investment Advisors Inc. grew its holdings in SkyWater Technology by 64.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,849 shares of the company’s stock valued at $39,000 after purchasing an additional 1,113 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in SkyWater Technology by 4.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 74,321 shares of the company’s stock valued at $1,026,000 after purchasing an additional 3,170 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in SkyWater Technology by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 202,639 shares of the company’s stock valued at $2,796,000 after purchasing an additional 3,321 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in SkyWater Technology during the 4th quarter valued at $50,000. Finally, MetLife Investment Management LLC boosted its stake in SkyWater Technology by 28.1% during the 4th quarter. MetLife Investment Management LLC now owns 17,693 shares of the company’s stock valued at $244,000 after acquiring an additional 3,882 shares during the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

SkyWater Technology Trading Up 9.1%

NASDAQ SKYT opened at $8.89 on Friday. SkyWater Technology, Inc. has a 12 month low of $5.63 and a 12 month high of $19.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.87 and a quick ratio of 0.78. The company has a market capitalization of $427.03 million, a price-to-earnings ratio of -25.40 and a beta of 3.40. The company’s fifty day moving average price is $7.32 and its two-hundred day moving average price is $9.30.

SkyWater Technology (NASDAQ:SKYT) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.10. SkyWater Technology had a negative net margin of 4.75% and a negative return on equity of 12.40%. The company had revenue of $75.49 million for the quarter, compared to the consensus estimate of $74.25 million. As a group, research analysts predict that SkyWater Technology, Inc. will post -0.22 earnings per share for the current fiscal year.

Insider Transactions at SkyWater Technology

In other news, Director Gregory B. Graves sold 12,844 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $8.11, for a total value of $104,164.84. Following the transaction, the director now directly owns 14,285 shares in the company, valued at approximately $115,851.35. This trade represents a 47.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 37.85% of the company’s stock.

Wall Street Analyst Weigh In

SKYT has been the topic of a number of research analyst reports. TD Cowen reduced their price objective on shares of SkyWater Technology from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Needham & Company LLC reduced their price objective on shares of SkyWater Technology from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th.

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.