AlphaQuest LLC Purchases 15,655 Shares of SkyWater Technology, Inc. (NASDAQ:SKYT)

AlphaQuest LLC increased its position in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) by 1,457.6% during the 4th quarter, HoldingsChannel reports. The fund owned 16,729 shares of the company’s stock after purchasing an additional 15,655 shares during the quarter. AlphaQuest LLC’s holdings in SkyWater Technology were worth $231,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SKYT. Quarry LP acquired a new position in SkyWater Technology during the 3rd quarter valued at about $35,000. Quantbot Technologies LP acquired a new position in SkyWater Technology in the third quarter valued at approximately $120,000. Entropy Technologies LP bought a new position in SkyWater Technology in the fourth quarter valued at approximately $151,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in SkyWater Technology during the 3rd quarter worth $202,000. Finally, Strategic Blueprint LLC bought a new stake in shares of SkyWater Technology during the 4th quarter valued at $210,000. Institutional investors own 70.00% of the company’s stock.

SkyWater Technology Stock Up 5.0 %

SkyWater Technology stock opened at $8.15 on Friday. SkyWater Technology, Inc. has a fifty-two week low of $5.63 and a fifty-two week high of $19.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.87 and a quick ratio of 0.78. The firm has a market capitalization of $388.40 million, a price-to-earnings ratio of -23.29 and a beta of 3.38. The company’s 50 day simple moving average is $10.17 and its 200 day simple moving average is $9.95.

SkyWater Technology (NASDAQ:SKYT) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.04 earnings per share (EPS) 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 analyst estimates of $74.25 million. SkyWater Technology had a negative net margin of 4.75% and a negative return on equity of 12.40%. As a group, sell-side analysts anticipate that SkyWater Technology, Inc. will post -0.22 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reaffirmed 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 Company 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.