What happened
According to a May 7, 2026, SEC filing, Lountzis Asset Management, LLC eliminated its stake in SkyWater Technology (SKYT +2.70%), selling 290,222 shares during the first quarter. The net position value declined by $5.27 million, which includes the effects of both trading activity and stock price movement over the quarter.
What else to know
The fund fully exited SkyWater Technology.
Top holdings after the filing:
- BRK-B: $65.08 million (24.0% of AUM)
- AMAT: $40.68 million (15.0% of AUM)
- WFC: $19.51 million (7.2% of AUM)
- GOOGL: $15.32 million (5.6% of AUM)
- PGR: $14.18 million (5.2% of AUM)
As of May 6, 2026, SkyWater Technology shares were priced at $34.19, up 372.2% over the past year and outperforming the S&P 500 by 340.88 percentage points.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $541.53 million |
| Net income (TTM) | $113.95 million |
| Price (as of market close May 6, 2026) | $34.19 |
| One-year price change | 372.2% |
Company snapshot
SkyWater Technology is a U.S.-based semiconductor foundry specializing in advanced process development and manufacturing for a broad range of industries. The company provides semiconductor development and manufacturing services, including engineering, process development, and production of silicon-based analog, mixed-signal, power discrete, MEMS, and radiation-hardened integrated circuits.
It leverages its engineering expertise and flexible manufacturing platform to co-create innovative solutions with customers, supporting both proprietary and custom silicon technologies. It operates a foundry business model, generating revenue through both technology co-development and volume manufacturing for a diverse set of end markets.
SkyWater Technology serves customers in computation, aerospace and defense, automotive, bio-health, consumer, industrial, and IoT sectors.
What this transaction means for investors
SkyWater’s stock price now reflects more than its role as a specialized U.S. foundry. IonQ plans to buy the company in a cash-and-stock deal, offering SkyWater shareholders $15 in cash and IonQ shares valued at $20 for each SkyWater share, with the final amount depending on certain limits. This means the stock’s value is now tied to both SkyWater’s performance and IonQ’s share price, as well as the deal’s closing conditions and the expected value of the merger.
This deal matters because of SkyWater’s manufacturing presence and its customers. SkyWater provides U.S.-based semiconductor development and manufacturing, including advanced technology and wafer services. Quantum-related projects are becoming a larger part of its business. The Fab 25 acquisition increased its manufacturing in Texas, but recent results show that this growth has led to integration costs and higher expenses.
For investors, SkyWater is now a mix of its foundry business and the upcoming merger with IonQ. IonQ could make SkyWater’s U.S. manufacturing more important for quantum hardware, while its current work in commercial, aerospace, and defense continues. The risk is that the stock’s value now depends not only on SkyWater’s progress but also on whether the deal closes, how IonQ’s stock performs, and whether demand for quantum projects grows quickly enough to meet investor expectations.
