This Semiconductor Stock Has Jumped 330% and Just Became a Top 8% Portfolio Holding

On May 15, 2026, Vazirani Asset Management disclosed a new position in SkyWater Technology(NASDAQ:SKYT), acquiring 125,000 shares in a trade estimated at $3.67 million based on quarterly average pricing.

What happened

According to a SEC filing dated May 15, 2026, Vazirani Asset Management initiated a new position in SkyWater Technology, purchasing 125,000 shares. The estimated value of the trade was $3.67 million, based on the quarterly average closing price for the period ended March 31, 2026. The quarter-end value of the stake, reflecting both the purchase and share price movement, was $3.43 million.

What else to know

This is a new position, representing 7.9% of the fund’s reportable 13F assets under management as of March 31, 2026. Top five holdings after the filing:

NYSE: AL: $6.49 million (15.0% of AUM) NYSE: AAUC: $6.40 million (14.8% of AUM) NASDAQ: WBD: $3.43 million (7.9% of AUM) NASDAQ:SKYT: $3.43 million (7.9% of AUM) NYSE: GTLS: $3.10 million (7.1% of AUM) As of May 14, 2026, SKYT shares were priced at $35.82, up 330% over the past year and well outperforming the S&P 500, which is instead up about 25%.

Company overview

Metric Value Price (as of market close May 14, 2026) $35.82 Market capitalization $1.70 billion Revenue (TTM) $442.14 million Net income (TTM) $118.92 million

Company snapshot

SkyWater Technology 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 The firm operates a fab-for-hire business model, generating revenue through co-creation of technologies and contract manufacturing for diverse applications across multiple industries It serves customers in computation, aerospace and defense, automotive, bio-health, consumer, and industrial/IoT sectors

SkyWater Technology is a U.S.-based semiconductor foundry specializing in advanced engineering and manufacturing solutions for a broad range of end markets. The company leverages a collaborative approach to technology development, enabling customers to accelerate innovation in critical and emerging applications. Its competitive advantage lies in its ability to provide flexible, U.S.-domiciled manufacturing services tailored to specialized and high-reliability requirements.

What this transaction means for investors

The timing here is notable because SkyWater stockholders approved the company’s merger agreement with IonQ last week, suggesting Vazirani may see additional upside tied to the combined company’s quantum ambitions rather than just merger arbitrage. Of course, it’s unclear whether Vazirani invested before or after the deal’s announcement, which came in January.

Regardless, SkyWater’s fundamentals have also improved dramatically. In February, the firm reported record 2025 revenue of $442.1 million, up 29% year over year, helped by the Fab 25 acquisition and growing demand tied to quantum computing customers. The company said quantum-related Advanced Technology Services revenue increased more than 30% in fiscal 2025, while adjusted EBITDA climbed 57% to $53.2 million.

Still, SkyWater remains a relatively small foundry competing in a very capital-intensive industry, and some of its profitability gains were tied to acquisition accounting rather than core operations. But for long-term investors, the company’s positioning in U.S.-based semiconductor manufacturing and quantum infrastructure could make it an increasingly strategic asset if domestic chip spending keeps accelerating.

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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Chart Industries, SkyWater Technology, and Warner Bros. Discovery. The Motley Fool has a disclosure policy.

This Semiconductor Stock Has Jumped 330% and Just Became a Top 8% Portfolio Holding was originally published by The Motley Fool

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