Corebridge Financial Inc. Sells 6,156 Shares of indie Semiconductor, Inc. (NASDAQ:INDI)

Corebridge Financial Inc. cut its holdings in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 7.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 reporting period.

Other hedge funds also recently made changes to their positions in the company. Rhumbline Advisers increased its position in indie Semiconductor by 1.8% in the fourth quarter. Rhumbline Advisers now owns 239,090 shares of the company’s stock worth $968,000 after buying an additional 4,156 shares during the last quarter. Arizona State Retirement System increased its stake in shares of indie Semiconductor by 13.0% in the fourth quarter. Arizona State Retirement System now owns 51,961 shares of the company’s stock worth $210,000 after purchasing an additional 5,960 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of indie Semiconductor by 74.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 14,897 shares of the company’s stock valued at $60,000 after purchasing an additional 6,363 shares during the period. American Trust lifted its stake in shares of indie Semiconductor by 28.2% during the 3rd quarter. American Trust now owns 28,976 shares of the company’s stock valued at $116,000 after buying an additional 6,375 shares in the last quarter. Finally, Legato Capital Management LLC boosted its holdings in indie Semiconductor by 47.9% in the 4th quarter. Legato Capital Management LLC now owns 20,285 shares of the company’s stock worth $82,000 after buying an additional 6,570 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Donald Mcclymont sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $3.12, for a total value of $156,000.00. Following the completion of the sale, the chief executive officer now owns 65,932 shares in the company, valued at $205,707.84. The trade was a 43.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Michael Wittmann sold 10,875 shares of the 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 transaction, the chief operating officer now directly owns 77,887 shares in the company, valued at approximately $218,862.47. This represents a 12.25 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 146,277 shares of company stock worth $434,192. Corporate insiders own 8.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on INDI shares. KeyCorp dropped their target price 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 indie Semiconductor in a report on Friday, January 24th. They set a “neutral” rating and a $4.50 price objective on the stock. Finally, Benchmark reaffirmed a “buy” rating and set a $8.00 target price on shares of indie Semiconductor in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, indie Semiconductor currently has an average rating of “Moderate Buy” and an average price target of $7.50.

indie Semiconductor Stock Performance

NASDAQ:INDI opened at $1.90 on Friday. indie Semiconductor, Inc. has a twelve month low of $1.53 and a twelve month high of $7.82. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. The stock has a market cap of $383.64 million, a P/E ratio of -2.50 and a beta of 1.84. The business’s 50-day moving average price is $2.83 and its two-hundred day moving average price is $3.69.

indie Semiconductor (NASDAQ:INDI) last announced its earnings results on Thursday, February 20th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The company 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 predict that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.

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.