SkyWater Technology, Inc. (NASDAQ:SKYT) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in SkyWater Technology, Inc. (NASDAQ:SKYT - Free Report) by 6.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 586,933 shares of the company's stock after purchasing an additional 35,219 shares during the period. Geode Capital Management LLC owned about 1.23% of SkyWater Technology worth $5,330,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its stake in shares of SkyWater Technology by 98,866.7% in the 2nd 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 in the last quarter. Rhumbline Advisers increased its position in shares of SkyWater Technology by 36.3% in the second quarter. Rhumbline Advisers now owns 32,764 shares of the company's stock valued at $251,000 after buying an additional 8,731 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of SkyWater Technology by 4.2% during the 2nd quarter. Victory Capital Management Inc. now owns 95,150 shares of the company's stock worth $728,000 after buying an additional 3,850 shares during the period. Renaissance Technologies LLC purchased a new position in shares of SkyWater Technology during the 2nd quarter valued at approximately $195,000. Finally, XTX Topco Ltd lifted its position in shares of SkyWater Technology by 19.5% during the 2nd quarter. XTX Topco Ltd now owns 30,836 shares of the company's stock valued at $236,000 after buying an additional 5,038 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company's stock.

SkyWater Technology Price Performance

SKYT traded up $1.02 on Friday, hitting $14.49. 753,072 shares of the company's stock were exchanged, compared to its average volume of 797,986. SkyWater Technology, Inc. has a fifty-two week low of $5.63 and a fifty-two week high of $19.00. The stock has a market cap of $690.54 million, a price-to-earnings ratio of -41.40 and a beta of 3.72. The firm has a 50-day moving average price of $10.43 and a 200-day moving average price of $9.17. The company has a current ratio of 0.87, a quick ratio of 0.78 and a debt-to-equity ratio of 0.53.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SKYT shares. Piper Sandler upped their price objective 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 restated a "buy" rating and set a $12.00 price target on shares of SkyWater Technology in a research report on Monday, November 11th.

Insider Transactions at SkyWater Technology

In related news, Director Loren A. Unterseher sold 7,761 shares of the 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 owns 12,806,264 shares of the company's stock, valued at approximately $118,714,067.28. This trade represents a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.