Inspire Investing LLC raised its stake in SkyWater Technology, Inc. (NASDAQ:SKYT – Free Report) by 71.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 49,040 shares of the company’s stock after acquiring an additional 20,448 shares during the period. Inspire Investing LLC’s holdings in SkyWater Technology were worth $348,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of SKYT. Nuveen LLC bought a new position in SkyWater Technology in the first quarter valued at approximately $1,919,000. Nuveen Asset Management LLC lifted its position in shares of SkyWater Technology by 414.5% in the fourth quarter. Nuveen Asset Management LLC now owns 277,962 shares of the company’s stock worth $3,836,000 after purchasing an additional 223,940 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of SkyWater Technology by 112.0% in the first quarter. AQR Capital Management LLC now owns 313,993 shares of the company’s stock worth $2,226,000 after purchasing an additional 165,865 shares in the last quarter. Bank of America Corp DE lifted its position in shares of SkyWater Technology by 394.2% in the fourth quarter. Bank of America Corp DE now owns 163,645 shares of the company’s stock worth $2,258,000 after purchasing an additional 130,529 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its position in shares of SkyWater Technology by 89.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 176,473 shares of the company’s stock worth $2,435,000 after purchasing an additional 83,544 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.
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Insider Activity at SkyWater Technology
In other SkyWater Technology news, Director Loren A. Unterseher sold 756,516 shares of the company’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $12.06, for a total value of $9,123,582.96. Following the transaction, the director directly owned 8,161,012 shares in the company, valued at $98,421,804.72. The trade was a 8.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 2,883,846 shares of company stock valued at $34,405,183 in the last 90 days. 37.85% of the stock is owned by insiders.
Analysts Set New Price Targets
SKYT has been the topic of a number of research reports. Needham & Company LLC boosted their price objective on shares of SkyWater Technology from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Wall Street Zen raised shares of SkyWater Technology from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $13.00.
Check Out Our Latest Report on SKYT
SkyWater Technology Price Performance
NASDAQ:SKYT opened at $10.56 on Monday. SkyWater Technology, Inc. has a one year low of $5.67 and a one year high of $19.00. The company has a market cap of $508.78 million, a P/E ratio of -31.06 and a beta of 3.41. The firm’s fifty day moving average price is $10.82 and its two-hundred day moving average price is $9.08. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.06 and a quick ratio of 0.97.
About SkyWater Technology
(Free Report)
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.
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