SkyWater Technology, Inc. (NASDAQ:SKYT) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in SkyWater Technology, Inc. (NASDAQ:SKYT) by 1.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 93,350 shares of the company’s stock after selling 1,800 shares during the period. Victory Capital Management Inc.’s holdings in SkyWater Technology were worth $848,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SKYT. Allworth Financial LP acquired a new position in shares of SkyWater Technology during the third quarter worth approximately $41,000. nVerses Capital LLC acquired a new position in shares of SkyWater Technology during the third quarter worth approximately $60,000. The Manufacturers Life Insurance Company acquired a new position in shares of SkyWater Technology during the second quarter worth approximately $88,000. Allspring Global Investments Holdings LLC boosted its position in shares of SkyWater Technology by 98,866.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 11,876 shares of the company’s stock worth $91,000 after buying an additional 11,864 shares during the period. Finally, Algert Global LLC acquired a new position in shares of SkyWater Technology during the second quarter worth approximately $107,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

SkyWater Technology Price Performance

NASDAQ SKYT opened at $7.91 on Thursday. The stock has a market capitalization of $376.99 million, a P/E ratio of -22.69 and a beta of 3.92. SkyWater Technology, Inc. has a 1 year low of $5.63 and a 1 year high of $12.97. The business’s fifty day moving average is $9.21 and its two-hundred day moving average is $8.49. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 0.87.

Wall Street Analysts Forecast Growth

SKYT has been the topic of several recent analyst reports. Piper Sandler boosted their target price on SkyWater Technology from $9.00 to $12.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Needham & Company LLC reissued a “buy” rating and set a $12.00 target price on shares of SkyWater Technology in a report on Monday, November 11th.

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.