Perkins Capital Management Inc. Has $951,000 Holdings in SkyWater Technology, Inc. (NASDAQ:SKYT)

Perkins Capital Management Inc. lowered its position in SkyWater Technology, Inc. (NASDAQ:SKYT) by 6.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 104,750 shares of the company’s stock after selling 7,000 shares during the quarter. Perkins Capital Management Inc. owned approximately 0.22% of SkyWater Technology worth $951,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Allworth Financial LP acquired a new stake in SkyWater Technology in the 3rd quarter valued at about $41,000. nVerses Capital LLC acquired a new stake in shares of SkyWater Technology in the third quarter valued at approximately $60,000. The Manufacturers Life Insurance Company bought a new position in shares of SkyWater Technology during the 2nd quarter worth approximately $88,000. Janney Montgomery Scott LLC acquired a new position in shares of SkyWater Technology during the 1st quarter worth approximately $119,000. Finally, Allspring Global Investments Holdings LLC raised its stake in SkyWater Technology by 98,866.7% in 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. Institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler upped their price objective on shares of SkyWater Technology from $9.00 to $12.00 and gave the company an “overweight” rating in a report on Friday, October 25th.

SkyWater Technology Trading Up 2.5 %

SKYT stock opened at $9.89 on Thursday. SkyWater Technology, Inc. has a 52 week low of $5.23 and a 52 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. The company’s 50-day simple moving average is $9.30 and its 200 day simple moving average is $8.59. The company has a market capitalization of $469.58 million, a PE ratio of -18.31 and a beta of 3.92.

SkyWater Technology (NASDAQ:SKYT) last announced its earnings results on Wednesday, August 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.12. The firm had revenue of $93.33 million for the quarter, compared to analyst estimates of $82.50 million. SkyWater Technology had a negative net margin of 7.88% and a negative return on equity of 21.68%. As a group, sell-side analysts anticipate that SkyWater Technology, Inc. will post -0.29 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Loren A. Unterseher sold 2,673 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $10.00, for a total transaction of $26,730.00. Following the completion of the sale, the director now directly owns 13,019,620 shares in the company, valued at approximately $130,196,200. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate 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.