Swiss National Bank Sells 7,700 Shares of indie Semiconductor, Inc. (NASDAQ:INDI)

Swiss National Bank lessened its holdings in indie Semiconductor, Inc. (NASDAQ:INDI) by 2.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 257,000 shares of the company’s stock after selling 7,700 shares during the period. Swiss National Bank’s holdings in indie Semiconductor were worth $2,084,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Victory Capital Management Inc. raised its stake in indie Semiconductor by 38.1% during the 4th quarter. Victory Capital Management Inc. now owns 18,589 shares of the company’s stock valued at $151,000 after purchasing an additional 5,131 shares during the period. Atria Wealth Solutions Inc. bought a new stake in shares of indie Semiconductor during the fourth quarter valued at approximately $111,000. New York State Common Retirement Fund lifted its holdings in shares of indie Semiconductor by 322.4% in the fourth quarter. New York State Common Retirement Fund now owns 190,186 shares of the company’s stock worth $1,542,000 after buying an additional 145,161 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of indie Semiconductor by 29.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 11,133 shares of the company’s stock worth $90,000 after acquiring an additional 2,558 shares during the last quarter. Finally, Mutual of America Capital Management LLC grew its stake in indie Semiconductor by 28.0% during the fourth quarter. Mutual of America Capital Management LLC now owns 457,881 shares of the company’s stock valued at $3,713,000 after acquiring an additional 100,295 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Donald Mcclymont sold 50,000 shares of indie Semiconductor stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $6.25, for a total transaction of $312,500.00. Following the completion of the transaction, the chief executive officer now directly owns 76,750 shares of the company’s stock, valued at approximately $479,687.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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. Also, COO Michael Wittmann sold 8,700 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $6.95, for a total value of $60,465.00. Following the completion of the transaction, the chief operating officer now directly owns 35,460 shares in the company, valued at approximately $246,447. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 173,673 shares of company stock valued at $1,082,541. 9.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

INDI has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft decreased their price target on shares of indie Semiconductor from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. KeyCorp dropped their price target on indie Semiconductor from $10.00 to $9.00 and set an “overweight” rating for the company in a research note on Friday, May 10th. Craig Hallum cut their price target on indie Semiconductor from $12.00 to $10.00 and set a “buy” rating for the company in a report on Friday, February 23rd. Finally, B. Riley reaffirmed a “buy” rating and set a $13.50 price objective (down from $14.50) on shares of indie Semiconductor in a report on Friday, May 10th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $12.64.

indie Semiconductor Trading Up 3.9 %

Shares of NASDAQ INDI opened at $6.44 on Friday. indie Semiconductor, Inc. has a 1-year low of $4.67 and a 1-year high of $10.85. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.74 and a quick ratio of 1.49. The business’s 50 day moving average is $6.16 and its two-hundred day moving average is $6.75. The stock has a market capitalization of $1.20 billion, a P/E ratio of -13.14 and a beta of 1.21.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.04. The company had revenue of $70.13 million for the quarter, compared to analyst estimates of $72.69 million. indie Semiconductor had a negative return on equity of 21.08% and a negative net margin of 32.12%. As a group, research analysts expect that indie Semiconductor, Inc. will post -0.42 EPS for the current year.

About indie Semiconductor

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.