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

Bank of America Corp DE boosted its stake in SkyWater Technology, Inc. (NASDAQ:SKYT - Free Report) by 394.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 about 0.34% of SkyWater Technology worth $2,258,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Baillie Gifford & Co. raised its stake in shares of SkyWater Technology by 65.4% during the fourth quarter. Baillie Gifford & Co. now owns 1,665,284 shares of the company's stock valued at $22,981,000 after acquiring an additional 658,431 shares during the last quarter. Trexquant Investment LP raised its stake in shares of SkyWater Technology by 169.7% during the fourth quarter. Trexquant Investment LP now owns 236,498 shares of the company's stock valued at $3,264,000 after acquiring an additional 148,802 shares during the last quarter. UNICOM Systems Inc. bought a new position in shares of SkyWater Technology during the fourth quarter valued at $1,728,000. Tudor Investment Corp ET AL bought a new position in shares of SkyWater Technology during the fourth quarter valued at $1,510,000. Finally, Los Angeles Capital Management LLC bought a new position in shares of SkyWater Technology during the fourth quarter valued at $1,096,000. Institutional investors own 70.00% of the company's stock.

SkyWater Technology Trading Down 0.7%

Shares of SKYT traded down $0.06 during trading hours on Friday, hitting $9.03. 468,046 shares of the stock were exchanged, compared to its average volume of 591,917. 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 0.53, a current ratio of 0.87 and a quick ratio of 0.78. The business has a 50-day moving average of $7.69 and a 200-day moving average of $9.31. The firm has a market capitalization of $433.76 million, a P/E ratio of -25.80 and a beta of 3.43.

Wall Street Analyst Weigh In

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

Insider Transactions at SkyWater Technology

In other SkyWater Technology news, Director Gregory B. Graves sold 12,844 shares of the firm's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $8.11, for a total value 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 trade represents a 47.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Loren A. Unterseher sold 366,418 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $9.54, for a total transaction of $3,495,627.72. Following the completion of the sale, the director now owns 10,660,365 shares of the company's stock, valued at $101,699,882.10. The trade was a 3.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 608,847 shares of company stock worth $5,768,314 over the last three months. 37.85% of the stock is owned by company insiders.

SkyWater Technology Company 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.