First Trust Advisors LP Raises Stock Holdings in indie Semiconductor, Inc. (NASDAQ:INDI)

First Trust Advisors LP increased its stake in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 39.4% in the fourth quarter, HoldingsChannel reports. The firm owned 39,582 shares of the company’s stock after buying an additional 11,181 shares during the quarter. First Trust Advisors LP’s holdings in indie Semiconductor were worth $160,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INDI. Barclays PLC boosted its stake in shares of indie Semiconductor by 330.7% during the 3rd quarter. Barclays PLC now owns 256,799 shares of the company’s stock worth $1,026,000 after purchasing an additional 197,179 shares during the last quarter. Moody National Bank Trust Division lifted its stake in shares of indie Semiconductor by 2.3% during the fourth quarter. Moody National Bank Trust Division now owns 650,810 shares of the company’s stock valued at $2,636,000 after buying an additional 14,500 shares during the period. FNY Investment Advisers LLC acquired a new stake in indie Semiconductor during the fourth quarter worth approximately $74,000. Artemis Investment Management LLP grew its stake in indie Semiconductor by 482.7% in the 4th quarter. Artemis Investment Management LLP now owns 6,539,694 shares of the company’s stock worth $26,486,000 after acquiring an additional 5,417,296 shares during the period. Finally, Register Financial Advisors LLC raised its holdings in indie Semiconductor by 60.4% in the 4th quarter. Register Financial Advisors LLC now owns 337,028 shares of the company’s stock valued at $1,365,000 after acquiring an additional 126,888 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

INDI has been the subject of a number of recent analyst reports. Benchmark reaffirmed a “buy” rating and issued a $8.00 price objective on shares of indie Semiconductor in a research report on Wednesday, April 9th. KeyCorp decreased their price target on indie Semiconductor from $8.00 to $7.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. B. Riley reaffirmed a “buy” rating on shares of indie Semiconductor in a research note on Thursday, April 24th. Finally, UBS Group initiated coverage on shares of indie Semiconductor in a report on Friday, January 24th. They issued a “neutral” rating and a $4.50 target price for the company. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.30.

Insider Activity

In related news, CEO Donald Mcclymont sold 65,754 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $2.90, for a total transaction of $190,686.60. Following the sale, the chief executive officer now directly owns 246,535 shares in the company, valued at approximately $714,951.50. This trade represents a 21.06% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Michael Wittmann sold 10,875 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was 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 in the company, valued at $218,862.47. This trade represents a 12.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 146,277 shares of company stock valued at $434,192. Company insiders own 8.20% of the company’s stock.

indie Semiconductor Stock Performance

indie Semiconductor stock opened at $2.33 on Monday. The company has a market cap of $485.79 million, a price-to-earnings ratio of -3.07 and a beta of 2.01. indie Semiconductor, Inc. has a 12 month low of $1.53 and a 12 month high of $7.82. 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’s 50-day moving average is $2.14 and its 200-day moving average is $3.44.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly 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 net margin of 61.59% and a negative return on equity of 28.08%. The business had revenue of $58.01 million during the quarter, compared to analysts’ expectations of $58.20 million. Equities analysts anticipate that indie Semiconductor, Inc. will post -0.54 earnings per share for the current year.

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.