SkyWater Technology, Inc. (NASDAQ:SKYT) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its position in SkyWater Technology, Inc. (NASDAQ:SKYT) by 1.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 93,350 shares of the company’s stock after selling 1,800 shares during the quarter. Victory Capital Management Inc. owned 0.20% of SkyWater Technology worth $848,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP acquired a new position in SkyWater Technology in the third quarter valued at $41,000. nVerses Capital LLC purchased a new position in SkyWater Technology in the third quarter valued at about $60,000. The Manufacturers Life Insurance Company purchased a new position in SkyWater Technology in the second quarter valued at about $88,000. Allspring Global Investments Holdings LLC raised its position in SkyWater Technology by 98,866.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 11,876 shares of the company’s stock valued at $91,000 after purchasing an additional 11,864 shares during the period. Finally, Olympiad Research LP purchased a new position in SkyWater Technology in the third quarter valued at about $126,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

SkyWater Technology Stock Down 3.4 %

NASDAQ:SKYT opened at $7.91 on Thursday. The company has a market capitalization of $376.99 million, a price-to-earnings ratio of -22.69 and a beta of 3.92. SkyWater Technology, Inc. has a one year low of $5.63 and a one year high of $12.97. The stock has a 50-day simple moving average of $9.21 and a 200 day simple moving average of $8.49. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 0.87.

Wall Street Analysts Forecast Growth

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

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.