indie Semiconductor, Inc. (NASDAQ:INDI) Stock Holdings Lowered by Principal Financial Group Inc.

Principal Financial Group Inc. cut its position in indie Semiconductor, Inc. (NASDAQ:INDI) by 27.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,949 shares of the company’s stock after selling 5,019 shares during the quarter. Principal Financial Group Inc.’s holdings in indie Semiconductor were worth $52,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of INDI. ProShare Advisors LLC increased its position in indie Semiconductor by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 27,071 shares of the company’s stock valued at $192,000 after acquiring an additional 2,131 shares during the period. GAMMA Investing LLC raised its stake in shares of indie Semiconductor by 1,743.8% during the second quarter. GAMMA Investing LLC now owns 4,130 shares of the company’s stock valued at $25,000 after purchasing an additional 3,906 shares in the last quarter. Wealth Effects LLC lifted its holdings in indie Semiconductor by 2.8% in the second quarter. Wealth Effects LLC now owns 170,700 shares of the company’s stock worth $1,053,000 after purchasing an additional 4,600 shares during the period. Register Financial Advisors LLC grew its position in indie Semiconductor by 3.7% in the 2nd quarter. Register Financial Advisors LLC now owns 138,440 shares of the company’s stock valued at $854,000 after buying an additional 5,000 shares in the last quarter. Finally, Tempus Wealth Planning LLC increased its stake in indie Semiconductor by 30.6% during the 2nd quarter. Tempus Wealth Planning LLC now owns 22,353 shares of the company’s stock valued at $138,000 after buying an additional 5,238 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

indie Semiconductor Trading Down 7.4 %

indie Semiconductor stock opened at $5.00 on Wednesday. indie Semiconductor, Inc. has a 12 month low of $3.16 and a 12 month high of $8.69. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. The stock has a market cap of $1.01 billion, a P/E ratio of -7.46 and a beta of 1.22. The company’s fifty day simple moving average is $3.93 and its 200-day simple moving average is $5.06.

Insider Buying and Selling at indie Semiconductor

In other news, CFO Thomas Schiller sold 75,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $3.83, for a total transaction of $287,250.00. Following the transaction, the chief financial officer now owns 977,192 shares in the company, valued at approximately $3,742,645.36. This trade represents a 7.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Donald Mcclymont sold 200,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $4.71, for a total value of $942,000.00. Following the transaction, the chief executive officer now directly owns 18,351 shares in the company, valued at approximately $86,433.21. This represents a 91.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 278,531 shares of company stock worth $1,242,915 over the last 90 days. 8.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on INDI. Benchmark cut their price objective on indie Semiconductor from $12.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Roth Mkm lowered their price objective on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of indie Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, indie Semiconductor has a consensus rating of “Buy” and an average price target of $9.79.

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.