Clearbridge Investments LLC Sells 15,835 Shares of indie Semiconductor, Inc. (NASDAQ:INDI)

Clearbridge Investments LLC lowered its position in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 0.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,706,539 shares of the company’s stock after selling 15,835 shares during the quarter. Clearbridge Investments LLC’s holdings in indie Semiconductor were worth $6,911,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Rhumbline Advisers grew its position in shares of indie Semiconductor by 1.8% in the 4th 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 lifted its stake in 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 acquiring an additional 5,960 shares during the period. Daiwa Securities Group Inc. boosted its holdings in 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 acquiring an additional 6,363 shares in the last quarter. American Trust increased its position in 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 purchasing an additional 6,375 shares during the period. Finally, Legato Capital Management LLC raised 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 purchasing an additional 6,570 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

INDI has been the topic of several research analyst reports. Benchmark reduced their price target on shares of indie Semiconductor from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. KeyCorp cut their price objective 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. Finally, UBS Group started coverage on indie Semiconductor in a research report on Friday, January 24th. They issued a “neutral” rating and a $4.50 target price for the company. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $7.50.

Insider Transactions at indie Semiconductor

In other indie Semiconductor news, CEO Donald Mcclymont sold 65,754 shares of indie Semiconductor stock in a transaction dated Friday, March 7th. The shares were 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. The trade was a 21.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Michael Wittmann sold 10,875 shares of the stock in a transaction that occurred 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 sale, the chief operating officer now owns 77,887 shares in the company, valued at approximately $218,862.47. The trade was a 12.25 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,289 shares of company stock valued at $443,668. Insiders own 8.20% of the company’s stock.

indie Semiconductor Trading Down 9.9 %

NASDAQ:INDI opened at $1.91 on Friday. The firm has a market capitalization of $385.66 million, a P/E ratio of -2.51 and a beta of 1.54. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.87. indie Semiconductor, Inc. has a one year low of $1.90 and a one year high of $7.82. The company’s 50-day simple moving average is $3.16 and its 200 day simple moving average is $3.79.

indie Semiconductor (NASDAQ:INDI) last issued its quarterly earnings results 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 return on equity of 28.08% and a negative net margin of 61.59%. The company had revenue of $58.01 million during the quarter, compared to the consensus estimate of $58.20 million. As a group, analysts forecast that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal 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.