Millennium Management LLC Sells 107,581 Shares of SkyWater Technology, Inc. (NASDAQ:SKYT)

Millennium Management LLC lessened its holdings in SkyWater Technology, Inc. (NASDAQ:SKYT - Free Report) by 25.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 310,558 shares of the company's stock after selling 107,581 shares during the period. Millennium Management LLC owned 0.65% of SkyWater Technology worth $4,286,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SKYT. SG Americas Securities LLC bought a new stake in SkyWater Technology during the fourth quarter worth about $225,000. Strategic Blueprint LLC bought a new stake in SkyWater Technology during the fourth quarter worth about $210,000. Entropy Technologies LP bought a new stake in SkyWater Technology during the fourth quarter worth about $151,000. UNICOM Systems Inc. bought a new stake in SkyWater Technology during the fourth quarter worth about $1,728,000. Finally, Baillie Gifford & Co. lifted its stake in SkyWater Technology by 65.4% during the fourth quarter. Baillie Gifford & Co. now owns 1,665,284 shares of the company's stock worth $22,981,000 after purchasing an additional 658,431 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company's stock.

SkyWater Technology Trading Down 0.1%

NASDAQ:SKYT traded down $0.01 during mid-day trading on Tuesday, reaching $8.89. 614,568 shares of the company's stock traded hands, compared to its average volume of 588,240. SkyWater Technology, Inc. has a 12-month low of $5.63 and a 12-month high of $19.00. The firm has a market capitalization of $427.03 million, a price-to-earnings ratio of -25.40 and a beta of 3.40. 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 company has a 50 day moving average price of $7.56 and a 200-day moving average price of $9.29.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Needham & Company LLC decreased their price objective on SkyWater Technology from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. TD Cowen decreased their price objective on SkyWater Technology from $15.00 to $12.00 and set a "buy" rating on the stock in a report on Thursday, May 8th.

Insider Activity at SkyWater Technology

In related news, Director Gregory B. Graves sold 12,844 shares of the business's 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 in the company, valued at $115,851.35. The trade was a 47.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Loren A. Unterseher sold 86,273 shares of SkyWater Technology stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $9.50, for a total value of $819,593.50. Following the sale, the director now directly owns 10,574,092 shares in the company, valued at approximately $100,453,874. The trade was a 0.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 599,784 shares of company stock worth $5,682,687 in the last 90 days. Company insiders own 37.85% of the company's stock.

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.