Baillie Gifford & Co. Sells 37,955 Shares of SkyWater Technology, Inc. (NASDAQ:SKYT)

Key Points

• Baillie Gifford & Co. reduced its stake in SkyWater Technology by 2.3%, now holding 1,627,329 shares valued at approximately $11.5 million.
• Insider sales included Director Loren A. Unterseher offloading 366,418 shares for about $3.5 million, diminishing his stake by 3.32%.
• SkyWater Technology's stock has experienced volatility, with a 52-week low of $5.63 and a high of $19.00, currently trading around $10.04.

Baillie Gifford & Co. reduced its position in shares of SkyWater Technology, Inc. (NASDAQ:SKYT - Free Report) by 2.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,627,329 shares of the company's stock after selling 37,955 shares during the period. Baillie Gifford & Co. owned approximately 3.39% of SkyWater Technology worth $11,538,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in SkyWater Technology by 941.3% in the 1st quarter. GAMMA Investing LLC now owns 4,613 shares of the company's stock worth $33,000 after purchasing an additional 4,170 shares in the last quarter. Summit Investment Advisors Inc. grew its stake in SkyWater Technology by 64.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,849 shares of the company's stock valued at $39,000 after acquiring an additional 1,113 shares in the last quarter. CWM LLC grew its stake in SkyWater Technology by 320.2% during the 1st quarter. CWM LLC now owns 5,719 shares of the company's stock valued at $41,000 after acquiring an additional 4,358 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in SkyWater Technology during the 4th quarter valued at about $50,000. Finally, Price T Rowe Associates Inc. MD acquired a new stake in shares of SkyWater Technology during the 4th quarter valued at about $147,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on SKYT shares. Needham & Company LLC lowered their price objective on SkyWater Technology from $12.00 to $11.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. TD Cowen dropped their price target on SkyWater Technology from $15.00 to $12.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th.

SkyWater Technology Stock Down 0.6%

SkyWater Technology stock traded down $0.06 during mid-day trading on Wednesday, reaching $10.14. The stock had a trading volume of 108,881 shares, compared to its average volume of 671,703. SkyWater Technology, Inc. has a fifty-two week low of $5.63 and a fifty-two week high of $19.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.07 and a current ratio of 1.18. The stock's 50-day simple moving average is $9.64 and its 200-day simple moving average is $8.91. The firm has a market capitalization of $487.02 million, a PE ratio of -59.17 and a beta of 3.40.

Insiders Place Their Bets

In other SkyWater Technology news, Director Loren A. Unterseher sold 67,345 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $9.44, for a total transaction of $635,736.80. Following the completion of the transaction, the director owned 10,446,708 shares of the company's stock, valued at $98,616,923.52. This represents a 0.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Thomas Sonderman sold 14,958 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $10.04, for a total value of $150,178.32. Following the completion of the sale, the chief executive officer owned 565,465 shares in the company, valued at $5,677,268.60. The trade was a 2.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 729,982 shares of company stock worth $6,933,545 over the last quarter. 37.85% of the stock is currently owned by corporate 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.