Commonwealth Equity Services LLC Reduces Stock Position in indie Semiconductor, Inc. (NASDAQ:INDI)

Commonwealth Equity Services LLC trimmed its holdings in indie Semiconductor, Inc. (NASDAQ:INDI) by 25.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 40,527 shares of the company’s stock after selling 13,540 shares during the period. Commonwealth Equity Services LLC’s holdings in indie Semiconductor were worth $164,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its stake in shares of indie Semiconductor by 10.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,318,300 shares of the company’s stock valued at $5,260,000 after purchasing an additional 120,071 shares in the last quarter. State Street Corp increased its holdings in indie Semiconductor by 2.3% in the third quarter. State Street Corp now owns 7,102,029 shares of the company’s stock valued at $28,337,000 after buying an additional 161,132 shares during the last quarter. Barclays PLC raised its stake in indie Semiconductor by 330.7% during the third quarter. Barclays PLC now owns 256,799 shares of the company’s stock valued at $1,026,000 after buying an additional 197,179 shares in the last quarter. Geode Capital Management LLC lifted its holdings in indie Semiconductor by 7.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,944,067 shares of the company’s stock worth $15,739,000 after buying an additional 276,739 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in indie Semiconductor during the 3rd quarter worth approximately $58,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

indie Semiconductor Price Performance

Shares of NASDAQ:INDI opened at $1.90 on Friday. The company has a market cap of $383.64 million, a P/E ratio of -2.50 and a beta of 1.84. The company’s fifty day moving average is $2.83 and its two-hundred day moving average is $3.69. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. indie Semiconductor, Inc. has a 12-month low of $1.53 and a 12-month high of $7.82.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). indie Semiconductor had a negative net margin of 61.59% and a negative return on equity of 28.08%. The company had revenue of $58.01 million for the quarter, compared to analysts’ expectations of $58.20 million. Equities analysts expect that indie Semiconductor, Inc. will post -0.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on INDI. KeyCorp dropped their price target on indie Semiconductor from $8.00 to $7.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. UBS Group initiated coverage on shares of indie Semiconductor in a report on Friday, January 24th. They set a “neutral” rating and a $4.50 target price on the stock. Finally, Benchmark reaffirmed a “buy” rating and issued a $8.00 price target on shares of indie Semiconductor in a report on Wednesday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, indie Semiconductor has an average rating of “Moderate Buy” and a consensus price target of $7.50.

Insider Activity at indie Semiconductor

In other indie Semiconductor news, CEO Donald Mcclymont sold 65,754 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $2.90, for a total transaction of $190,686.60. Following the transaction, the chief executive officer now owns 246,535 shares in the company, valued at $714,951.50. This trade represents a 21.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Michael Wittmann sold 10,875 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $2.81, for a total transaction of $30,558.75. Following the completion of the transaction, the chief operating officer now owns 77,887 shares in the company, valued at $218,862.47. The trade was a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 146,277 shares of company stock valued at $434,192. Insiders own 8.20% of the company’s stock.

indie Semiconductor 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.