Fortem Financial Group LLC Sells 70,000 Shares of SkyWater Technology, Inc. (NASDAQ:SKYT)

Fortem Financial Group LLC lessened its position in SkyWater Technology, Inc. (NASDAQ:SKYT) by 50.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 70,000 shares of the company’s stock after selling 70,000 shares during the quarter. Fortem Financial Group LLC owned approximately 0.15% of SkyWater Technology worth $966,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in SKYT. 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 buying an additional 29,523 shares during the period. Geode Capital Management LLC grew its position 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 buying an additional 35,219 shares during the period. State Street Corp increased its stake in shares of SkyWater Technology by 4.7% in the 3rd quarter. State Street Corp now owns 473,475 shares of the company’s stock worth $4,299,000 after acquiring an additional 21,134 shares in the last quarter. Quarry LP purchased a new position in SkyWater Technology during the 3rd quarter valued at about $35,000. Finally, Point72 Asset Management L.P. bought a new stake in SkyWater Technology during the third quarter worth about $222,000. 70.00% of the stock is currently owned by institutional investors.

SkyWater Technology Stock Up 7.7 %

SkyWater Technology stock traded up $1.11 during trading hours on Monday, hitting $15.60. The stock had a trading volume of 1,385,140 shares, compared to its average volume of 981,382. The stock’s 50-day moving average price is $10.43 and its 200-day moving average price is $9.17. The stock has a market capitalization of $743.43 million, a P/E ratio of -44.57 and a beta of 3.43. SkyWater Technology, Inc. has a 12-month low of $5.63 and a 12-month high of $19.00. The company has a quick ratio of 0.78, a current ratio of 0.87 and a debt-to-equity ratio of 0.53.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SKYT. Piper Sandler raised their target price 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. Needham & Company LLC reaffirmed a “buy” rating and set a $12.00 price objective on shares of SkyWater Technology in a research report on Monday, November 11th.

Insider Activity at SkyWater Technology

In other news, Director Loren A. Unterseher sold 7,761 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $9.27, for a total transaction of $71,944.47. Following the transaction, the director now directly owns 12,806,264 shares of the company’s stock, valued at $118,714,067.28. This represents a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 42.55% of the stock is 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.