Baillie Gifford & Co. Purchases 658,431 Shares of SkyWater Technology, Inc. (NASDAQ:SKYT)

Baillie Gifford & Co. increased its position in SkyWater Technology, Inc. (NASDAQ:SKYT) by 65.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,665,284 shares of the company’s stock after buying an additional 658,431 shares during the quarter. Baillie Gifford & Co.’s holdings in SkyWater Technology were worth $22,981,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Geode Capital Management LLC lifted its stake in shares of SkyWater Technology by 6.4% in the third quarter. Geode Capital Management LLC now owns 586,933 shares of the company’s stock valued at $5,330,000 after buying an additional 35,219 shares in the last quarter. UNICOM Systems Inc. acquired a new stake in shares of SkyWater Technology in the 4th quarter worth about $1,728,000. nVerses Capital LLC bought a new position in SkyWater Technology in the 3rd quarter valued at about $60,000. The Manufacturers Life Insurance Company acquired a new position in SkyWater Technology during the 2nd quarter valued at about $88,000. Finally, SG Americas Securities LLC bought a new stake in SkyWater Technology during the 4th quarter worth approximately $225,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insiders Place Their Bets

In other news, Director Loren A. Unterseher sold 7,761 shares of SkyWater Technology stock in a transaction on Friday, December 13th. The stock was sold at an average price of $9.27, for a total transaction of $71,944.47. Following the sale, the director now directly owns 12,806,264 shares in the company, valued at $118,714,067.28. The trade was a 0.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 42.55% of the company’s stock.

SkyWater Technology Price Performance

Shares of NASDAQ SKYT opened at $10.02 on Tuesday. 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 capitalization of $477.51 million, a PE ratio of -28.63 and a beta of 3.36. The stock’s 50 day moving average price is $11.70 and its 200-day moving average price is $9.93. SkyWater Technology, Inc. has a twelve month low of $5.63 and a twelve month high of $19.00.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Piper Sandler raised their target price on 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 reaffirmed a “buy” rating and set a $12.00 price objective on shares of SkyWater Technology in a report 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.