Los Angeles Capital Management LLC Buys Shares of 79,437 SkyWater Technology, Inc. (NASDAQ:SKYT)

Los Angeles Capital Management LLC bought a new stake in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 79,437 shares of the company’s stock, valued at approximately $1,096,000. Los Angeles Capital Management LLC owned about 0.17% of SkyWater Technology as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Bank of New York Mellon Corp raised its holdings in SkyWater Technology by 21.0% in the fourth quarter. Bank of New York Mellon Corp now owns 67,891 shares of the company’s stock worth $937,000 after purchasing an additional 11,800 shares during the period. Baillie Gifford & Co. raised its holdings in SkyWater Technology by 65.4% in the fourth quarter. Baillie Gifford & Co. now owns 1,665,284 shares of the company’s stock worth $22,981,000 after purchasing an additional 658,431 shares during the period. UNICOM Systems Inc. acquired a new stake in SkyWater Technology in the fourth quarter worth $1,728,000. Entropy Technologies LP acquired a new stake in SkyWater Technology in the fourth quarter worth $151,000. Finally, Strategic Blueprint LLC acquired a new stake in SkyWater Technology in the fourth quarter worth $210,000. Institutional investors own 70.00% of the company’s stock.

SkyWater Technology Price Performance

Shares of SKYT opened at $9.33 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.87 and a debt-to-equity ratio of 0.53. SkyWater Technology, Inc. has a twelve month low of $5.63 and a twelve month high of $19.00. The stock has a market capitalization of $444.63 million, a P/E ratio of -26.66 and a beta of 3.37. The company has a 50 day moving average of $11.41 and a 200-day moving average of $10.06.

SkyWater Technology (NASDAQ:SKYT) last released its earnings results on Wednesday, February 26th. The company reported $0.04 earnings per share for the quarter, beating 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 business had revenue of $75.49 million during the quarter, compared to the consensus estimate of $74.25 million. As a group, equities research analysts forecast that SkyWater Technology, Inc. will post -0.22 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Needham & Company LLC reiterated a “buy” rating and issued a $12.00 target price on shares of SkyWater Technology in a report on Thursday.

Insider Activity

In related news, Director Loren A. Unterseher sold 7,761 shares of SkyWater Technology stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $9.27, for a total value of $71,944.47. Following the sale, the director now owns 12,806,264 shares of the company’s stock, valued at approximately $118,714,067.28. The trade was a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 42.55% of the stock is owned by corporate insiders.

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.