Fortem Financial Group LLC Reduces Stock Position in SkyWater Technology, Inc. (NASDAQ:SKYT)

Fortem Financial Group LLC lessened its stake in SkyWater Technology, Inc. (NASDAQ:SKYT) by 50.0% in the fourth quarter, HoldingsChannel reports. The firm owned 70,000 shares of the company’s stock after selling 70,000 shares during the period. Fortem Financial Group LLC’s holdings in SkyWater Technology were worth $966,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in SKYT. AQR Capital Management LLC boosted its holdings in shares of SkyWater Technology by 183.6% in the second quarter. AQR Capital Management LLC now owns 119,828 shares of the company’s stock worth $917,000 after buying an additional 77,571 shares during the last quarter. Inspire Investing LLC bought a new stake in shares of SkyWater Technology during the 3rd quarter valued at $418,000. Geode Capital Management LLC increased its stake in shares of SkyWater Technology by 6.4% in the 3rd quarter. Geode Capital Management LLC now owns 586,933 shares of the company’s stock worth $5,330,000 after purchasing an additional 35,219 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in SkyWater Technology by 20.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 199,318 shares of the company’s stock worth $1,810,000 after purchasing an additional 34,383 shares during the period. Finally, Barclays PLC lifted its position in SkyWater Technology by 167.0% during the third quarter. Barclays PLC now owns 47,204 shares of the company’s stock valued at $429,000 after purchasing an additional 29,523 shares in the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

SkyWater Technology Price Performance

SKYT traded up $1.11 during trading on Monday, reaching $15.60. 1,385,140 shares of the company traded hands, compared to its average volume of 981,382. SkyWater Technology, Inc. has a 12-month low of $5.63 and a 12-month high of $19.00. The firm has a fifty day simple moving average of $10.43 and a 200 day simple moving average of $9.17. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 0.87. The company has a market cap of $743.43 million, a P/E ratio of -44.57 and a beta of 3.43.

Wall Street Analyst Weigh In

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

Insider Activity at SkyWater Technology

In other SkyWater Technology news, Director Loren A. Unterseher sold 7,761 shares of the stock in a transaction dated 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 transaction, the director now owns 12,806,264 shares of the company’s stock, valued at $118,714,067.28. This represents a 0.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 42.55% of the stock is currently owned by corporate insiders.

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.