Geode Capital Management LLC Grows Stock Position in SkyWater Technology, Inc. (NASDAQ:SKYT)

Geode Capital Management LLC increased its stake in SkyWater Technology, Inc. (NASDAQ:SKYT) by 6.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 586,933 shares of the company’s stock after acquiring an additional 35,219 shares during the period. Geode Capital Management LLC owned about 1.23% of SkyWater Technology worth $5,330,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC boosted its position in SkyWater Technology by 167.0% during the 3rd quarter. Barclays PLC now owns 47,204 shares of the company’s stock valued at $429,000 after buying an additional 29,523 shares during the period. State Street Corp boosted 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 worth $4,299,000 after purchasing an additional 21,134 shares during the period. Quarry LP bought a new stake in shares of SkyWater Technology in the third quarter worth about $35,000. Point72 Asset Management L.P. purchased a new position in SkyWater Technology during the 3rd quarter valued at about $222,000. Finally, Quantbot Technologies LP bought a new position in SkyWater Technology during the 3rd quarter valued at approximately $120,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

SkyWater Technology Stock Up 7.6 %

NASDAQ:SKYT opened at $14.49 on Friday. 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’s 50-day moving average price is $10.43 and its 200-day moving average price is $9.16. The company has a market capitalization of $690.54 million, a PE ratio of -41.40 and a beta of 3.72. SkyWater Technology, Inc. has a 1-year low of $5.63 and a 1-year high of $19.00.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other SkyWater Technology news, Director Loren A. Unterseher sold 7,761 shares of SkyWater Technology stock in a transaction on Friday, December 13th. The stock was sold at an average price of $9.27, for a total transaction of $71,944.47. Following the completion of the transaction, the director now owns 12,806,264 shares in the company, valued at approximately $118,714,067.28. The trade was a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 42.55% of the company’s stock.

About SkyWater Technology

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.