Bank of America Corp DE Increases Holdings in SkyWater Technology, Inc. (NASDAQ:SKYT)

Bank of America Corp DE lifted its holdings in shares of SkyWater Technology, Inc. (NASDAQ:SKYT - Free Report) by 394.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. 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 0.34% of SkyWater Technology worth $2,258,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SKYT. Summit Investment Advisors Inc. raised 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 purchasing an additional 1,113 shares during the last quarter. BNP Paribas Financial Markets bought a new position in SkyWater Technology during the fourth quarter worth $50,000. BIT Capital GmbH bought a new stake in SkyWater Technology in the fourth quarter valued at $143,000. Price T Rowe Associates Inc. MD acquired a new position in shares of SkyWater Technology during the fourth quarter valued at about $147,000. Finally, Entropy Technologies LP acquired a new position in SkyWater Technology during the 4th quarter worth approximately $151,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SKYT has been the topic of several research reports. TD Cowen lowered their price objective on shares of SkyWater Technology from $15.00 to $12.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Needham & Company LLC lowered their target price on shares of SkyWater Technology from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Thursday, May 8th.

SkyWater Technology Stock Down 2.0%

NASDAQ:SKYT traded down $0.19 during trading hours on Thursday, hitting $9.15. 387,157 shares of the company traded hands, compared to its average volume of 678,220. The company has a quick ratio of 0.78, a current ratio of 0.87 and a debt-to-equity ratio of 0.53. The company has a market cap of $439.28 million, a PE ratio of -26.16 and a beta of 3.43. The firm's 50-day simple moving average is $7.61 and its 200-day simple moving average is $9.29. SkyWater Technology, Inc. has a one year low of $5.63 and a one year high of $19.00.

Insiders Place Their Bets

In other SkyWater Technology news, Director Loren A. Unterseher sold 86,273 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $9.50, for a total transaction of $819,593.50. Following the sale, the director now directly owns 10,574,092 shares of the company's stock, valued at $100,453,874. This represents a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gregory B. Graves sold 12,844 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $8.11, for a total transaction of $104,164.84. Following the transaction, the director now owns 14,285 shares of the company's stock, valued at $115,851.35. This represents a 47.34% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 599,784 shares of company stock valued at $5,682,687. Corporate 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.