Allspring Global Investments Holdings LLC Lowers Holdings in indie Semiconductor, Inc. (NASDAQ:INDI)

Allspring Global Investments Holdings LLC reduced its stake in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 11.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 176,599 shares of the company’s stock after selling 21,730 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.10% of indie Semiconductor worth $1,432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Nisa Investment Advisors LLC grew its stake in indie Semiconductor by 269.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,130 shares of the company’s stock valued at $50,000 after acquiring an additional 4,470 shares in the last quarter. Tempus Wealth Planning LLC purchased a new position in shares of indie Semiconductor during the third quarter valued at about $72,000. Spouting Rock Asset Management LLC bought a new stake in shares of indie Semiconductor in the third quarter worth about $89,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of indie Semiconductor by 55.5% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 14,202 shares of the company’s stock worth $90,000 after buying an additional 5,067 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in indie Semiconductor by 20.8% during the third quarter. PNC Financial Services Group Inc. now owns 15,537 shares of the company’s stock valued at $98,000 after buying an additional 2,680 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling at indie Semiconductor

In related news, CEO Donald Mcclymont sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $6.25, for a total transaction of $312,500.00. Following the completion of the sale, the chief executive officer now directly owns 76,750 shares of the company’s stock, valued at approximately $479,687.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Donald Mcclymont sold 50,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $6.25, for a total value of $312,500.00. Following the transaction, the chief executive officer now directly owns 76,750 shares in the company, valued at $479,687.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Michael Wittmann sold 8,700 shares of indie Semiconductor stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $6.95, for a total transaction of $60,465.00. Following the sale, the chief operating officer now owns 35,460 shares of the company’s stock, valued at approximately $246,447. The disclosure for this sale can be found here. Insiders sold 111,491 shares of company stock worth $730,936 over the last 90 days. Company insiders own 9.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on INDI. KeyCorp decreased their price objective on indie Semiconductor from $12.00 to $10.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd. Craig Hallum lowered their price objective on shares of indie Semiconductor from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $13.50.

indie Semiconductor Stock Down 4.7 %

Shares of INDI opened at $5.11 on Tuesday. The company has a quick ratio of 1.72, a current ratio of 1.96 and a debt-to-equity ratio of 0.33. The business has a fifty day moving average of $6.55 and a 200 day moving average of $6.66. The company has a market cap of $936.25 million, a PE ratio of -6.01 and a beta of 1.15. indie Semiconductor, Inc. has a 52-week low of $4.67 and a 52-week high of $10.85.

indie Semiconductor (NASDAQ:INDI) last released its earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.04. The firm had revenue of $70.13 million during the quarter, compared to analyst estimates of $72.69 million. indie Semiconductor had a negative net margin of 52.46% and a negative return on equity of 15.84%. On average, sell-side analysts expect that indie Semiconductor, Inc. will post -0.42 EPS for the current year.

indie Semiconductor Company Profile

indie Semiconductor, Inc provides automotive semiconductors and software solutions for advanced driver assistance systems, autonomous vehicle, in-cabin, connected car, and electrification applications in the United States, South America, rest of North America, Greater China, South Korea, rest of the Asia Pacific, and Europe.