State Street Corp Raises Stock Holdings in SkyWater Technology, Inc. (NASDAQ:SKYT)

State Street Corp increased its stake in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) by 4.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 473,475 shares of the company’s stock after purchasing an additional 21,134 shares during the quarter. State Street Corp owned approximately 0.99% of SkyWater Technology worth $4,299,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of SkyWater Technology during the third quarter worth about $35,000. Allworth Financial LP purchased a new stake in SkyWater Technology in the 3rd quarter worth approximately $41,000. nVerses Capital LLC acquired a new position in SkyWater Technology in the 3rd quarter valued at $60,000. The Manufacturers Life Insurance Company purchased a new position in shares of SkyWater Technology during the 2nd quarter worth $88,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of SkyWater Technology by 98,866.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 11,876 shares of the company’s stock worth $91,000 after purchasing an additional 11,864 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

SkyWater Technology Trading Down 7.2 %

Shares of SKYT opened at $14.91 on Monday. SkyWater Technology, Inc. has a twelve month low of $5.63 and a twelve month high of $19.00. The firm has a market capitalization of $710.55 million, a P/E ratio of -42.60 and a beta of 3.72. The company has a current ratio of 0.87, a quick ratio of 0.78 and a debt-to-equity ratio of 0.53. The stock’s fifty day simple moving average is $10.04 and its 200 day simple moving average is $8.96.

Analyst Ratings Changes

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

Insiders Place Their Bets

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

SkyWater Technology 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.