Emerald Mutual Fund Advisers Trust Has $7.69 Million Stock Holdings in SkyWater Technology, Inc. (NASDAQ:SKYT)

Emerald Mutual Fund Advisers Trust decreased its position in SkyWater Technology, Inc. (NASDAQ:SKYT) by 3.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 846,852 shares of the company’s stock after selling 28,937 shares during the quarter. Emerald Mutual Fund Advisers Trust owned 1.78% of SkyWater Technology worth $7,689,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Allworth Financial LP bought a new stake in SkyWater Technology during the third quarter worth about $41,000. nVerses Capital LLC acquired a new position in shares of SkyWater Technology in the 3rd quarter worth approximately $60,000. The Manufacturers Life Insurance Company bought a new stake in SkyWater Technology during the 2nd quarter worth approximately $88,000. Allspring Global Investments Holdings LLC increased its holdings in SkyWater Technology by 98,866.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 11,876 shares of the company’s stock valued at $91,000 after purchasing an additional 11,864 shares in the last quarter. Finally, Algert Global LLC bought a new position in SkyWater Technology in the 2nd quarter valued at $107,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler increased their target price on SkyWater Technology from $9.00 to $12.00 and gave the stock an “overweight” rating in a report on Friday, October 25th.

Insider Buying and Selling

In other SkyWater Technology news, Director Loren A. Unterseher sold 2,673 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $10.00, for a total transaction of $26,730.00. Following the transaction, 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 document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 42.55% of the company’s stock.

SkyWater Technology Price Performance

SKYT opened at $9.80 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.90 and a quick ratio of 0.79. The company’s 50 day simple moving average is $9.27 and its 200-day simple moving average is $8.56. SkyWater Technology, Inc. has a one year low of $5.11 and a one year high of $12.97. The stock has a market capitalization of $465.30 million, a P/E ratio of -18.15 and a beta of 3.92.

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

SkyWater Technology 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.