Fortem Financial Group LLC Lowers Holdings in SkyWater Technology, Inc. (NASDAQ:SKYT)

Fortem Financial Group LLC lowered its stake in SkyWater Technology, Inc. (NASDAQ:SKYT - Free Report) by 50.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 70,000 shares of the company's stock after selling 70,000 shares during the quarter. Fortem Financial Group LLC owned 0.15% of SkyWater Technology worth $966,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in shares of SkyWater Technology by 6.4% during the 3rd quarter. Geode Capital Management LLC now owns 586,933 shares of the company's stock valued at $5,330,000 after acquiring an additional 35,219 shares during the last quarter. nVerses Capital LLC acquired a new stake in SkyWater Technology in the 3rd quarter valued at approximately $60,000. AQR Capital Management LLC raised its holdings in shares of SkyWater Technology by 183.6% in the 2nd quarter. AQR Capital Management LLC now owns 119,828 shares of the company's stock valued at $917,000 after buying an additional 77,571 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in SkyWater Technology during the second quarter worth about $88,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of SkyWater Technology during the third quarter worth about $222,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SKYT has been the topic of several recent research reports. Needham & Company LLC reaffirmed a "buy" rating and set a $12.00 target price on shares of SkyWater Technology in a research note on Monday, November 11th. Piper Sandler increased their price objective on SkyWater Technology from $9.00 to $12.00 and gave the company an "overweight" rating in a research note on Friday, October 25th.

Insider Buying and Selling at SkyWater Technology

In other news, Director Loren A. Unterseher sold 7,761 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The stock was 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 trade represents a 0.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 42.55% of the company's stock.

SkyWater Technology Stock Performance

NASDAQ SKYT traded up $1.20 during trading hours on Monday, hitting $15.69. The company had a trading volume of 1,589,171 shares, compared to its average volume of 1,062,171. The company has a market cap of $747.72 million, a PE ratio of -44.83 and a beta of 3.43. SkyWater Technology, Inc. has a 1-year low of $5.63 and a 1-year high of $19.00. The business has a 50 day moving average of $10.43 and a 200-day moving average of $9.17. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 0.87.

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.