Corebridge Financial Inc. Decreases Stake in indie Semiconductor, Inc. (NASDAQ:INDI)

Corebridge Financial Inc. lessened its stake in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 7.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 81,551 shares of the company’s stock after selling 6,156 shares during the quarter. Corebridge Financial Inc.’s holdings in indie Semiconductor were worth $330,000 at the end of the most recent quarter.

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

Insider Activity at indie Semiconductor

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

Analyst Ratings Changes

Several research analysts have commented on INDI shares. Benchmark restated a “buy” rating and issued a $8.00 price objective on shares of indie Semiconductor in a report on Wednesday. KeyCorp decreased their price target on shares of indie Semiconductor from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Finally, UBS Group assumed coverage on indie Semiconductor in a research report on Friday, January 24th. They set a “neutral” rating and a $4.50 price objective on the stock. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $7.50.

indie Semiconductor Trading Down 4.8 %

NASDAQ INDI opened at $1.90 on Friday. indie Semiconductor, Inc. has a 12 month low of $1.53 and a 12 month high of $7.82. The company has a current ratio of 2.39, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. The stock’s fifty day moving average price is $2.83 and its 200-day moving average price is $3.69. The stock has a market cap of $383.64 million, a P/E ratio of -2.50 and a beta of 1.84.

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