Geode Capital Management LLC Purchases 35,219 Shares of SkyWater Technology, Inc. (NASDAQ:SKYT)

Geode Capital Management LLC lifted its position in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) by 6.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 586,933 shares of the company’s stock after acquiring an additional 35,219 shares during the period. Geode Capital Management LLC’s holdings in SkyWater Technology were worth $5,330,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Barclays PLC increased its holdings in SkyWater Technology by 167.0% in the 3rd quarter. Barclays PLC now owns 47,204 shares of the company’s stock worth $429,000 after buying an additional 29,523 shares in the last quarter. State Street Corp raised its holdings 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 during the last quarter. Quarry LP bought a new position in SkyWater Technology during the third quarter valued at approximately $35,000. Point72 Asset Management L.P. bought a new stake in SkyWater Technology in the 3rd quarter worth approximately $222,000. Finally, Quantbot Technologies LP purchased a new stake in SkyWater Technology during the 3rd quarter valued at $120,000. Institutional investors own 70.00% of the company’s stock.

Insiders Place Their Bets

In other news, Director Loren A. Unterseher sold 7,761 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $9.27, for a total value of $71,944.47. Following the completion of the sale, the director now directly owns 12,806,264 shares of the company’s stock, valued at $118,714,067.28. This represents a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 42.55% of the company’s stock.

SkyWater Technology Price Performance

Shares of SkyWater Technology stock opened at $14.49 on Friday. The stock has a market cap of $690.54 million, a P/E ratio of -41.40 and a beta of 3.72. 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 stock’s fifty day moving average is $10.43 and its 200 day moving average is $9.16. SkyWater Technology, Inc. has a one year low of $5.63 and a one year high of $19.00.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Piper Sandler lifted their price objective on SkyWater Technology from $9.00 to $12.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Needham & Company LLC reissued a “buy” rating and issued a $12.00 target price on shares of SkyWater Technology in a research report on Monday, November 11th.

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.