Arizona State Retirement System Buys 5,960 Shares of indie Semiconductor, Inc. (NASDAQ:INDI)

Arizona State Retirement System lifted its stake in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 13.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,961 shares of the company’s stock after acquiring an additional 5,960 shares during the period. Arizona State Retirement System’s holdings in indie Semiconductor were worth $210,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in indie Semiconductor by 10.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,318,300 shares of the company’s stock valued at $5,260,000 after purchasing an additional 120,071 shares in the last quarter. Geode Capital Management LLC grew its position in indie Semiconductor by 7.5% in the third quarter. Geode Capital Management LLC now owns 3,944,067 shares of the company’s stock valued at $15,739,000 after purchasing an additional 276,739 shares in the last quarter. State Street Corp grew its position in indie Semiconductor by 2.3% in the third quarter. State Street Corp now owns 7,102,029 shares of the company’s stock valued at $28,337,000 after purchasing an additional 161,132 shares in the last quarter. Barclays PLC grew its position in indie Semiconductor by 330.7% in the third quarter. Barclays PLC now owns 256,799 shares of the company’s stock valued at $1,026,000 after purchasing an additional 197,179 shares in the last quarter. Finally, Elemental Capital Partners LLC bought a new position in indie Semiconductor in the fourth quarter valued at $14,272,000. Institutional investors own 67.73% of the company’s stock.

indie Semiconductor Price Performance

Shares of indie Semiconductor stock opened at $2.34 on Friday. indie Semiconductor, Inc. has a twelve month low of $2.29 and a twelve 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 50-day simple moving average of $3.75 and a two-hundred day simple moving average of $3.94. The stock has a market capitalization of $472.48 million, a price-to-earnings ratio of -3.08 and a beta of 1.54.

indie Semiconductor (NASDAQ:INDI) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $58.01 million during the quarter, compared to analyst estimates of $58.20 million. Analysts forecast that indie Semiconductor, Inc. will post -0.54 EPS for the current year.

Insider Buying and Selling at indie Semiconductor

In other indie Semiconductor news, COO Michael Wittmann sold 10,875 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $2.81, for a total value of $30,558.75. Following the transaction, the chief operating officer now directly owns 77,887 shares of the company’s stock, valued at $218,862.47. This trade represents a 12.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Donald Mcclymont sold 50,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $4.31, for a total transaction of $215,500.00. Following the completion of the transaction, the chief executive officer now directly owns 18,351 shares in the company, valued at approximately $79,092.81. This represents a 73.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 219,789 shares of company stock valued at $747,537 in the last ninety days. 8.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. 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. KeyCorp decreased their price objective on shares of indie Semiconductor from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Finally, Benchmark decreased their price objective on shares of indie Semiconductor from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.50.

indie Semiconductor 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.