Jane Street Group LLC Cuts Position in SkyWater Technology, Inc. (NASDAQ:SKYT)

Jane Street Group LLC trimmed its holdings in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) by 6.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 54,041 shares of the company’s stock after selling 3,611 shares during the period. Jane Street Group LLC owned approximately 0.11% of SkyWater Technology worth $491,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. State Street Corp increased its stake in SkyWater Technology by 4.7% during the 3rd 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 in the last quarter. Quarry LP purchased a new position in SkyWater Technology in the 3rd quarter worth approximately $35,000. Point72 Asset Management L.P. bought a new position in shares of SkyWater Technology during the third quarter valued at $222,000. Quantbot Technologies LP bought a new position in SkyWater Technology during the 3rd quarter valued at about $120,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of SkyWater Technology by 20.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 199,318 shares of the company’s stock valued at $1,810,000 after purchasing an additional 34,383 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

SkyWater Technology Price Performance

Shares of SkyWater Technology stock opened at $15.69 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 0.87 and a debt-to-equity ratio of 0.53. SkyWater Technology, Inc. has a 52 week low of $5.63 and a 52 week high of $19.00. The stock’s 50-day simple moving average is $10.52 and its 200-day simple moving average is $9.23. The company has a market capitalization of $747.72 million, a price-to-earnings ratio of -44.83 and a beta of 3.43.

Insider Buying and Selling

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 shares were sold at an average price of $9.27, for a total value of $71,944.47. Following the sale, the director now directly owns 12,806,264 shares in the company, valued at approximately $118,714,067.28. The trade was a 0.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 42.55% of the stock is owned by insiders.

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.