indie Semiconductor, Inc. (NASDAQ:INDI) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. grew its position in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 8.1% during the 4th quarter, Holdings Channel reports. The firm owned 12,585,262 shares of the company’s stock after purchasing an additional 942,088 shares during the period. Vanguard Group Inc. owned about 0.06% of indie Semiconductor worth $50,970,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Primecap Management Co. CA grew its position in indie Semiconductor by 3.2% in the fourth quarter. Primecap Management Co. CA now owns 26,287,766 shares of the company’s stock worth $106,465,000 after buying an additional 819,321 shares during the last quarter. State Street Corp raised its holdings in shares of indie Semiconductor by 2.3% during the third quarter. State Street Corp now owns 7,102,029 shares of the company’s stock valued at $28,337,000 after acquiring an additional 161,132 shares during the period. Artemis Investment Management LLP raised its stake in indie Semiconductor by 482.7% during the 4th quarter. Artemis Investment Management LLP now owns 6,539,694 shares of the company’s stock valued at $26,486,000 after purchasing an additional 5,417,296 shares during the period. Geode Capital Management LLC raised its position in indie Semiconductor by 7.5% during the third quarter. Geode Capital Management LLC now owns 3,944,067 shares of the company’s stock valued at $15,739,000 after buying an additional 276,739 shares during the period. Finally, Elemental Capital Partners LLC purchased a new stake in shares of indie Semiconductor in the fourth quarter worth approximately $14,272,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on INDI shares. Benchmark reiterated a “buy” rating and set a $8.00 price objective on shares of indie Semiconductor in a report on Wednesday. UBS Group initiated coverage on indie Semiconductor in a report on Friday, January 24th. They set a “neutral” rating and a $4.50 price target on the stock. Finally, KeyCorp lowered their price target 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. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.50.

indie Semiconductor Stock Performance

INDI opened at $2.08 on Friday. indie Semiconductor, Inc. has a 1 year low of $1.53 and a 1 year high of $7.82. The stock has a market cap of $419.99 million, a PE ratio of -2.74 and a beta of 1.84. The company has a current ratio of 2.39, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. The stock’s 50 day simple moving average is $2.79 and its 200-day simple moving average is $3.68.

indie Semiconductor (NASDAQ:INDI) last posted its earnings results on Thursday, February 20th. The company reported ($0.15) EPS 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 company had revenue of $58.01 million for the quarter, compared to the consensus estimate of $58.20 million. Sell-side analysts forecast that indie Semiconductor, Inc. will post -0.54 EPS for the current year.

Insider Transactions at indie Semiconductor

In related news, CEO Donald Mcclymont sold 50,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $3.12, for a total value of $156,000.00. Following the sale, the chief executive officer now directly owns 65,932 shares in the company, valued at $205,707.84. This trade represents a 43.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Michael Wittmann sold 10,875 shares of the business’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 completion of the transaction, the chief operating officer now directly owns 77,887 shares of the company’s stock, valued at approximately $218,862.47. The trade was a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 146,277 shares of company stock valued at $434,192. 8.20% of the stock is owned by insiders.

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.