Connor Clark & Lunn Investment Management Ltd. Raises Stock Position in SkyWater Technology, Inc. (NASDAQ:SKYT)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) by 142.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 53,920 shares of the company’s stock after acquiring an additional 31,700 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in SkyWater Technology were worth $744,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Baillie Gifford & Co. increased its position in shares of SkyWater Technology by 65.4% during the fourth quarter. Baillie Gifford & Co. now owns 1,665,284 shares of the company’s stock worth $22,981,000 after acquiring an additional 658,431 shares during the period. Geode Capital Management LLC increased its position in shares of SkyWater Technology by 6.4% during the third quarter. Geode Capital Management LLC now owns 586,933 shares of the company’s stock worth $5,330,000 after acquiring an additional 35,219 shares during the period. State Street Corp boosted its stake in shares of SkyWater Technology by 4.7% during the third quarter. State Street Corp now owns 473,475 shares of the company’s stock valued at $4,299,000 after purchasing an additional 21,134 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of SkyWater Technology by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 202,639 shares of the company’s stock valued at $2,796,000 after purchasing an additional 3,321 shares in the last quarter. Finally, UNICOM Systems Inc. bought a new position in shares of SkyWater Technology during the fourth quarter valued at approximately $1,728,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

SkyWater Technology Price Performance

NASDAQ SKYT opened at $7.85 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 0.87. The firm’s 50 day moving average price is $9.63 and its 200-day moving average price is $9.91. SkyWater Technology, Inc. has a 52-week low of $5.63 and a 52-week high of $19.00. The company has a market cap of $376.76 million, a PE ratio of -22.43 and a beta of 3.38.

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

Insider Transactions at SkyWater Technology

In other news, Director Gregory B. Graves sold 12,844 shares of SkyWater Technology stock in a transaction on Friday, March 14th. The shares were 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 directly owns 14,285 shares in the company, valued at approximately $115,851.35. The trade was a 47.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 42.55% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reiterated a “buy” rating and set a $12.00 price objective on shares of SkyWater Technology in a research note 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.