TCG Advisory Services LLC Has $2.07 Million Stock Position in SkyWater Technology, Inc. (NASDAQ:SKYT)

TCG Advisory Services LLC lessened its holdings in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) by 9.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 215,000 shares of the company’s stock after selling 22,000 shares during the period. TCG Advisory Services LLC’s holdings in SkyWater Technology were worth $2,068,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Emerald Advisers LLC raised its position 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. bought a new stake in shares of SkyWater Technology in the 4th quarter valued at about $9,281,000. Emerald Mutual Fund Advisers Trust increased its stake in shares of SkyWater Technology by 15.6% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 869,817 shares of the company’s stock valued at $5,236,000 after buying an additional 117,081 shares during the period. Victory Capital Management Inc. raised its position in shares of 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 acquiring an additional 14,163 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in shares of SkyWater Technology by 83.7% in the third quarter. Federated Hermes Inc. now owns 80,000 shares of the company’s stock worth $482,000 after acquiring an additional 36,443 shares during the period. Institutional investors own 70.00% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Thomas Sonderman sold 18,989 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $10.01, for a total transaction of $190,079.89. Following the transaction, the chief executive officer now owns 498,413 shares in the company, valued at $4,989,114.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Loren A. Unterseher sold 368,709 shares of the company’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 transaction of $4,476,127.26. Following the transaction, the director now directly owns 13,022,293 shares of the company’s stock, valued at $158,090,637.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas Sonderman sold 18,989 shares of SkyWater Technology 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 directly owns 498,413 shares of the company’s stock, valued at approximately $4,989,114.13. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 398,218 shares of company stock worth $4,787,187. 42.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SKYT has been the subject of a number of recent analyst reports. Needham & Company LLC increased their target price on shares of SkyWater Technology from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. TD Cowen increased their price objective on shares of SkyWater Technology from $12.00 to $15.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. Finally, Piper Sandler boosted their target price on shares of SkyWater Technology from $9.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th.

SkyWater Technology Trading Down 1.3 %

NASDAQ SKYT traded down $0.13 during trading hours on Friday, hitting $10.23. 396,505 shares of the company’s stock were exchanged, compared to its average volume of 259,290. The firm has a market cap of $484.29 million, a price-to-earnings ratio of -15.27 and a beta of 4.18. The stock has a 50-day simple moving average of $10.24 and a 200 day simple moving average of $8.71. The company has a current ratio of 1.02, a quick ratio of 0.91 and a debt-to-equity ratio of 0.59. SkyWater Technology, Inc. has a 1-year low of $4.73 and a 1-year high of $12.97.

SkyWater Technology (NASDAQ:SKYT) last announced its quarterly earnings data on Monday, February 26th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.12. The company had revenue of $79.15 million during the quarter, compared to the consensus estimate of $74.90 million. SkyWater Technology had a negative net margin of 10.73% and a negative return on equity of 30.58%. On average, equities analysts forecast that SkyWater Technology, Inc. will post -0.05 EPS 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.