Verition Fund Management LLC Sells 1,711 Shares of SkyWater Technology, Inc. (NASDAQ:SKYT)

Verition Fund Management LLC decreased its holdings in SkyWater Technology, Inc. (NASDAQ:SKYT) by 7.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 20,068 shares of the company’s stock after selling 1,711 shares during the quarter. Verition Fund Management LLC’s holdings in SkyWater Technology were worth $182,000 as of its most recent SEC filing.

A number of other 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 4.4% in the second quarter. Baillie Gifford & Co. now owns 1,007,449 shares of the company’s stock worth $7,707,000 after purchasing an additional 42,649 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in 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 in the last quarter. Rhumbline Advisers lifted its stake in SkyWater Technology by 36.3% during the 2nd quarter. Rhumbline Advisers now owns 32,764 shares of the company’s stock valued at $251,000 after acquiring an additional 8,731 shares in the last quarter. Whalen Wealth Management Inc. boosted its holdings in SkyWater Technology by 41.1% during the 2nd quarter. Whalen Wealth Management Inc. now owns 33,689 shares of the company’s stock worth $258,000 after acquiring an additional 9,816 shares during the last quarter. Finally, Lountzis Asset Management LLC purchased a new position in SkyWater Technology during the 2nd quarter worth $2,212,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

SkyWater Technology Trading Up 10.9 %

Shares of SkyWater Technology stock opened at $10.16 on Tuesday. The firm has a market cap of $484.23 million, a PE ratio of -29.03 and a beta of 3.72. SkyWater Technology, Inc. has a 1 year low of $5.63 and a 1 year high of $12.97. 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 stock has a fifty day moving average price of $9.18 and a 200-day moving average price of $8.55.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SKYT. Piper Sandler increased their target price on shares of SkyWater Technology from $9.00 to $12.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Needham & Company LLC reiterated a “buy” rating and issued a $12.00 price objective on shares of SkyWater Technology in a research note on Monday, November 11th.

About SkyWater Technology

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.