Hillsdale Investment Management Inc. Takes Position in SkyWater Technology, Inc. (NASDAQ:SKYT)

Hillsdale Investment Management Inc. bought a new position in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 24,500 shares of the company’s stock, valued at approximately $338,000.

A number of other hedge funds have also added to or reduced their stakes in SKYT. Geode Capital Management LLC grew its position in shares of SkyWater Technology by 6.4% during the 3rd quarter. Geode Capital Management LLC now owns 586,933 shares of the company’s stock worth $5,330,000 after buying an additional 35,219 shares during the period. SBI Securities Co. Ltd. acquired a new stake in SkyWater Technology in the fourth quarter worth $572,000. UNICOM Systems Inc. bought a new stake in SkyWater Technology in the fourth quarter valued at $1,728,000. SG Americas Securities LLC acquired a new position in shares of SkyWater Technology during the fourth quarter valued at about $225,000. Finally, Baillie Gifford & Co. boosted its position in shares of SkyWater Technology by 65.4% during the 4th quarter. Baillie Gifford & Co. now owns 1,665,284 shares of the company’s stock worth $22,981,000 after purchasing an additional 658,431 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors.

Insider Transactions at SkyWater Technology

In related news, Director Gregory B. Graves sold 12,844 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $8.11, for a total transaction of $104,164.84. Following the completion of the sale, the director now owns 14,285 shares in the company, valued at approximately $115,851.35. This represents a 47.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 42.55% of the company’s stock.

SkyWater Technology Stock Performance

Shares of SKYT stock opened at $8.14 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.78 and a debt-to-equity ratio of 0.53. The firm has a fifty day simple moving average of $9.57 and a two-hundred day simple moving average of $9.93. SkyWater Technology, Inc. has a 12 month low of $5.63 and a 12 month high of $19.00. The firm has a market capitalization of $390.68 million, a PE ratio of -23.26 and a beta of 3.38.

SkyWater Technology (NASDAQ:SKYT) last posted its earnings results on Wednesday, February 26th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.10. SkyWater Technology had a negative net margin of 4.75% and a negative return on equity of 12.40%. The company had revenue of $75.49 million during the quarter, compared to the consensus estimate of $74.25 million. Analysts forecast that SkyWater Technology, Inc. will post -0.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $12.00 target price on shares of SkyWater Technology in a research report on Thursday, February 27th.

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.