Tower Research Capital LLC TRC Has $55,000 Stock Holdings in SkyWater Technology, Inc. (NASDAQ:SKYT)

Tower Research Capital LLC TRC increased its stake in SkyWater Technology, Inc. (NASDAQ:SKYT) by 622.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,712 shares of the company’s stock after acquiring an additional 4,921 shares during the quarter. Tower Research Capital LLC TRC’s holdings in SkyWater Technology were worth $55,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Emerald Advisers LLC raised its holdings in SkyWater Technology by 17.4% during the 3rd quarter. Emerald Advisers LLC now owns 1,129,507 shares of the company’s stock worth $6,800,000 after purchasing an additional 167,290 shares during the last quarter. Baillie Gifford & Co. acquired a new stake in shares of SkyWater Technology during the fourth quarter worth $9,281,000. Emerald Mutual Fund Advisers Trust increased its position in shares of SkyWater Technology by 15.6% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 869,817 shares of the company’s stock worth $5,236,000 after buying an additional 117,081 shares during the period. Victory Capital Management Inc. raised its stake in SkyWater Technology by 17.6% during the fourth quarter. Victory Capital Management Inc. now owns 94,800 shares of the company’s stock worth $912,000 after buying an additional 14,163 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in SkyWater Technology by 83.7% in the third quarter. Federated Hermes Inc. now owns 80,000 shares of the company’s stock valued at $482,000 after buying an additional 36,443 shares during the period. 70.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

SkyWater Technology Stock Up 5.3 %

SKYT traded up $0.52 during midday trading on Monday, hitting $10.26. The company had a trading volume of 233,966 shares, compared to its average volume of 404,067. The company has a market capitalization of $485.71 million, a price-to-earnings ratio of -15.31 and a beta of 4.29. The stock’s 50 day moving average price is $10.19 and its 200 day moving average price is $8.62. The company has a quick ratio of 0.91, a current ratio of 1.02 and a debt-to-equity ratio of 0.59. SkyWater Technology, Inc. has a 52 week low of $4.73 and a 52 week high of $12.97.

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

Insider Buying and Selling

In other SkyWater Technology news, CEO Thomas Sonderman sold 18,989 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $10.01, for a total transaction of $190,079.89. Following the completion of the sale, the chief executive officer now owns 498,413 shares in the company, valued at approximately $4,989,114.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Thomas Sonderman sold 18,989 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were 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 of the company’s stock, valued at approximately $4,989,114.13. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Loren A. Unterseher sold 368,709 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $12.14, for a total value of $4,476,127.26. Following the sale, the director now directly owns 13,022,293 shares of the company’s stock, valued at $158,090,637.02. 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. Corporate insiders own 42.55% of the company’s stock.

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.