UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 34,523 Shares of indie Semiconductor, Inc. (NASDAQ:INDI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 13.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 230,975 shares of the company’s stock after selling 34,523 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in indie Semiconductor were worth $922,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of INDI. SG Americas Securities LLC purchased a new stake in indie Semiconductor during the 2nd quarter valued at about $156,000. Tempus Wealth Planning LLC boosted its stake in shares of indie Semiconductor by 30.6% during the second quarter. Tempus Wealth Planning LLC now owns 22,353 shares of the company’s stock valued at $138,000 after purchasing an additional 5,238 shares during the period. Calamos Advisors LLC bought a new position in shares of indie Semiconductor in the second quarter worth approximately $478,000. Bank of New York Mellon Corp grew its holdings in shares of indie Semiconductor by 24.2% in the second quarter. Bank of New York Mellon Corp now owns 643,273 shares of the company’s stock worth $3,969,000 after purchasing an additional 125,158 shares during the last quarter. Finally, SlateStone Wealth LLC purchased a new position in shares of indie Semiconductor in the second quarter worth $82,000. 67.73% of the stock is owned by institutional investors.

indie Semiconductor Stock Performance

Shares of INDI stock opened at $4.12 on Thursday. The firm has a market capitalization of $831.89 million, a price-to-earnings ratio of -6.15 and a beta of 1.37. The stock has a fifty day moving average of $4.16 and a 200 day moving average of $4.85. indie Semiconductor, Inc. has a 52 week low of $3.16 and a 52 week 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.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on INDI shares. Benchmark dropped their price target on shares of indie Semiconductor from $12.00 to $9.00 and set a “buy” rating for the company in a research 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 for the company in a research note on Friday, November 8th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $8.92.

Insiders Place Their Bets

In related news, CEO Donald Mcclymont sold 50,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $4.31, for a total value of $215,500.00. Following the completion of the transaction, the chief executive officer now directly owns 18,351 shares of the company’s stock, valued at $79,092.81. This represents a 73.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders sold 253,081 shares of company stock worth $1,174,446. 8.20% of the stock is currently owned by corporate insiders.

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.