Principal Financial Group Inc. Sells 5,019 Shares of indie Semiconductor, Inc. (NASDAQ:INDI)

Principal Financial Group Inc. decreased its stake in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 27.9% during the 3rd quarter, HoldingsChannel.com reports. The firm 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 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in INDI. Harbor Capital Advisors Inc. increased its stake in indie Semiconductor by 290.6% during the third quarter. Harbor Capital Advisors Inc. now owns 3,195,910 shares of the company’s stock valued at $12,752,000 after acquiring an additional 2,377,612 shares during the period. Tempus Wealth Planning LLC grew its holdings in shares of indie Semiconductor by 61.6% during the 3rd quarter. Tempus Wealth Planning LLC now owns 36,121 shares of the company’s stock worth $144,000 after purchasing an additional 13,768 shares in the last quarter. Creative Planning bought a new stake in shares of indie Semiconductor during the third quarter valued at approximately $75,000. Artemis Investment Management LLP acquired a new position in shares of indie Semiconductor in the third quarter valued at $4,478,000. Finally, American Trust bought a new position in indie Semiconductor in the second quarter worth $139,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insiders Place Their Bets

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

indie Semiconductor Stock Performance

INDI stock opened at $5.00 on Wednesday. The company has a 50 day moving average price of $3.93 and a 200 day moving average price of $5.06. indie Semiconductor, Inc. has a fifty-two week low of $3.16 and a fifty-two week high of $8.69. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.87. The stock has a market capitalization of $1.01 billion, a PE ratio of -7.46 and a beta of 1.22.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on INDI. Roth Mkm dropped 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. Deutsche Bank Aktiengesellschaft cut their target price on indie Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, Benchmark dropped their target price 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. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $9.79.

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.