GABELLI & Co INVESTMENT ADVISERS INC. Makes New $3.72 Million Investment in SkyWater Technology, Inc. $SKYT

GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in SkyWater Technology, Inc. (NASDAQ:SKYT) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 135,600 shares of the company’s stock, valued at approximately $3,717,000.

Several other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of SkyWater Technology by 4.9% during the third quarter. Vanguard Group Inc. now owns 2,047,168 shares of the company’s stock worth $38,200,000 after acquiring an additional 94,948 shares during the last quarter. Ameriprise Financial Inc. raised its position in SkyWater Technology by 9.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,846,355 shares of the company’s stock valued at $34,453,000 after purchasing an additional 153,299 shares during the last quarter. State Street Corp raised its position in SkyWater Technology by 134.1% in the 4th quarter. State Street Corp now owns 1,210,673 shares of the company’s stock valued at $21,986,000 after purchasing an additional 693,470 shares during the last quarter. Millennium Management LLC boosted its stake in SkyWater Technology by 3,396.4% during the 3rd quarter. Millennium Management LLC now owns 775,364 shares of the company’s stock worth $14,468,000 after purchasing an additional 753,188 shares during the period. Finally, Geode Capital Management LLC boosted its stake in SkyWater Technology by 10.9% during the 4th quarter. Geode Capital Management LLC now owns 710,132 shares of the company’s stock worth $12,897,000 after purchasing an additional 69,656 shares during the period. 70.00% of the stock is owned by institutional investors and hedge funds.

SkyWater Technology Stock Performance

NASDAQ SKYT opened at $30.62 on Friday. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.17. The business’s 50 day moving average is $35.05 and its two-hundred day moving average is $31.99. SkyWater Technology, Inc. has a 12-month low of $8.49 and a 12-month high of $39.93. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 13.14 and a beta of 3.34.

SkyWater Technology (NASDAQ:SKYT) last posted its quarterly earnings results on Friday, May 8th. The company reported ($0.25) EPS for the quarter. The business had revenue of $160.69 million during the quarter. SkyWater Technology had a net margin of 21.04% and a negative return on equity of 7.88%. Research analysts expect that SkyWater Technology, Inc. will post -0.42 EPS for the current year.

Insider Transactions at SkyWater Technology

In other SkyWater Technology news, CFO Steve Manko sold 75,000 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $35.08, for a total value of $2,631,000.00. Following the completion of the transaction, the chief financial officer owned 96,567 shares in the company, valued at approximately $3,387,570.36. This represents a 43.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 22.56% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of SkyWater Technology in a research report on Wednesday, June 24th. Zacks Research raised shares of SkyWater Technology from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $32.00.

SkyWater Technology Company Profile

SkyWater Technology Solutions, Inc is a U.S.-based specialty semiconductor foundry headquartered in Bloomington, Minnesota. The company focuses on the development and manufacture of high-reliability integrated circuits using advanced processes on 200-millimeter wafers.

SkyWater’s service offerings span analog/mixed-signal, radio frequency (RF), micro-electromechanical systems (MEMS) and advanced packaging technologies. Its turnkey model includes multi-project wafer (MPW) runs, volume production, design enablement support and assembly and test services, enabling customers to take concepts from prototype to market.

Serving aerospace, defense, automotive, industrial, medical and communications sectors, SkyWater supports applications that demand rigorous performance, quality and traceability.