indie Semiconductor, Inc. (NASDAQ:INDI) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC cut its holdings in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 44.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 87,684 shares of the company’s stock after selling 71,070 shares during the period. Cresset Asset Management LLC’s holdings in indie Semiconductor were worth $355,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Brevan Howard Capital Management LP purchased a new stake in shares of indie Semiconductor in the 4th quarter valued at approximately $76,000. Bamco Inc. NY lifted its position in shares of indie Semiconductor by 30.6% in the 4th quarter. Bamco Inc. NY now owns 19,901,826 shares of the company’s stock valued at $80,602,000 after acquiring an additional 4,661,220 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in shares of indie Semiconductor in the 4th quarter valued at approximately $262,000. BNP Paribas Financial Markets purchased a new stake in shares of indie Semiconductor in the 4th quarter valued at approximately $91,000. Finally, ArrowMark Colorado Holdings LLC purchased a new stake in shares of indie Semiconductor in the 4th quarter valued at approximately $55,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, 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 transaction, the chief operating officer now owns 77,887 shares in the company, valued at approximately $218,862.47. This trade represents a 12.25% 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 65,754 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were 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 represents a 21.06% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 146,277 shares of company stock worth $434,192. 8.20% of the stock is owned by corporate insiders.

indie Semiconductor Stock Down 2.9%

INDI stock opened at $2.70 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 quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. The company has a market cap of $562.93 million, a price-to-earnings ratio of -3.55 and a beta of 2.01. The company has a 50 day moving average of $2.12 and a two-hundred day moving average of $3.41.

indie Semiconductor (NASDAQ:INDI) last released its earnings results on Monday, May 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.08). The company had revenue of $54.08 million during the quarter, compared to the consensus estimate of $54.94 million. indie Semiconductor had a negative net margin of 61.59% and a negative return on equity of 28.08%. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.10) EPS. On average, equities analysts anticipate that indie Semiconductor, Inc. will post -0.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on INDI shares. KeyCorp reduced their price target on shares of indie Semiconductor from $7.00 to $6.00 and set an “overweight” rating for the company in a research report on Tuesday. Craig Hallum reduced their price target on shares of indie Semiconductor from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday. Benchmark cut their target price on shares of indie Semiconductor from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday. UBS Group started coverage on shares of indie Semiconductor in a research report on Friday, January 24th. They issued a “neutral” rating and a $4.50 target price for the company. Finally, B. Riley reiterated a “buy” rating on shares of indie Semiconductor in a research report on Thursday, April 24th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.75.

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.