Bank of America Corp DE Purchases 130,529 Shares of SkyWater Technology, Inc. (NASDAQ:SKYT)

Bank of America Corp DE grew its stake in SkyWater Technology, Inc. (NASDAQ:SKYT) by 394.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 163,645 shares of the company’s stock after purchasing an additional 130,529 shares during the period. Bank of America Corp DE owned approximately 0.34% of SkyWater Technology worth $2,258,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of SKYT. Summit Investment Advisors Inc. lifted its holdings in SkyWater Technology by 64.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,849 shares of the company’s stock worth $39,000 after buying an additional 1,113 shares in the last quarter. BNP Paribas Financial Markets bought a new position in SkyWater Technology during the 4th quarter worth about $50,000. BIT Capital GmbH bought a new position in SkyWater Technology during the 4th quarter worth about $143,000. Price T Rowe Associates Inc. MD bought a new position in SkyWater Technology during the 4th quarter worth about $147,000. Finally, Entropy Technologies LP bought a new position in SkyWater Technology during the 4th quarter worth about $151,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on SKYT shares. Needham & Company LLC lowered their target price on SkyWater Technology from $12.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, May 8th. TD Cowen decreased their price objective on SkyWater Technology from $15.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, May 8th.

SkyWater Technology Trading Down 1.5%

Shares of NASDAQ:SKYT opened at $8.90 on Tuesday. SkyWater Technology, Inc. has a 52-week low of $5.63 and a 52-week high of $19.00. The company has a market capitalization of $427.51 million, a P/E ratio of -25.43 and a beta of 3.40. The company has a 50-day simple moving average of $7.54 and a 200 day simple moving average of $9.29. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 0.87.

Insiders Place Their Bets

In other SkyWater Technology news, Director Loren A. Unterseher sold 134,049 shares of the business’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $9.41, for a total transaction of $1,261,401.09. Following the sale, the director now owns 11,026,783 shares of the company’s stock, valued at approximately $103,762,028.03. The trade was a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gregory B. Graves sold 12,844 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $8.11, for a total transaction of $104,164.84. Following the completion of the sale, the director now directly owns 14,285 shares in the company, valued at approximately $115,851.35. This represents a 47.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold 599,784 shares of company stock worth $5,682,687 over the last three months. Insiders own 37.85% of the company’s stock.

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.