Geode Capital Management LLC Cuts Stock Position in SkyWater Technology, Inc. (NASDAQ:SKYT)

Geode Capital Management LLC trimmed its holdings in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) by 0.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 584,815 shares of the company’s stock after selling 2,118 shares during the period. Geode Capital Management LLC owned 1.23% of SkyWater Technology worth $8,072,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. increased its position in shares of SkyWater Technology by 65.4% during the fourth quarter. Baillie Gifford & Co. now owns 1,665,284 shares of the company’s stock worth $22,981,000 after acquiring an additional 658,431 shares during the last quarter. UNICOM Systems Inc. purchased a new stake in SkyWater Technology during the 4th quarter worth approximately $1,728,000. Los Angeles Capital Management LLC acquired a new position in shares of SkyWater Technology in the 4th quarter valued at approximately $1,096,000. SBI Securities Co. Ltd. acquired a new position in shares of SkyWater Technology in the 4th quarter valued at approximately $572,000. Finally, Vanguard Group Inc. boosted its stake in shares of SkyWater Technology by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 1,448,738 shares of the company’s stock valued at $19,993,000 after buying an additional 40,060 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at SkyWater Technology

In other news, Director Gregory B. Graves sold 12,844 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $8.11, for a total value of $104,164.84. Following the completion of the sale, the director now owns 14,285 shares of the company’s stock, valued at $115,851.35. This trade represents a 47.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 42.55% of the company’s stock.

Analysts Set New Price Targets

Separately, Needham & Company LLC reiterated a “buy” rating and issued a $12.00 price target on shares of SkyWater Technology in a research note on Thursday, February 27th.

SkyWater Technology Price Performance

NASDAQ SKYT opened at $7.28 on Friday. SkyWater Technology, Inc. has a 1 year low of $5.63 and a 1 year high of $19.00. The business’s fifty day moving average is $7.77 and its two-hundred day moving average is $9.56. The stock has a market capitalization of $349.69 million, a P/E ratio of -20.80 and a beta of 3.41. 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 (NASDAQ:SKYT) last released its earnings results on Wednesday, February 26th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.10. The business had revenue of $75.49 million for the quarter, compared to the consensus estimate of $74.25 million. SkyWater Technology had a negative net margin of 4.75% and a negative return on equity of 12.40%. On average, research analysts forecast that SkyWater Technology, Inc. will post -0.22 earnings per share for the current fiscal year.

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.