Raymond James Financial Inc. Purchases Shares of 104,045 indie Semiconductor, Inc. (NASDAQ:INDI)

Raymond James Financial Inc. acquired a new position in shares of indie Semiconductor, Inc. (NASDAQ:INDI) during the 4th quarter, Holdings Channel reports. The fund acquired 104,045 shares of the company’s stock, valued at approximately $421,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of INDI. National Bank of Canada FI raised its stake in indie Semiconductor by 42.7% during the fourth quarter. National Bank of Canada FI now owns 13,452 shares of the company’s stock valued at $54,000 after purchasing an additional 4,023 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of indie Semiconductor by 1.8% in the 4th quarter. Rhumbline Advisers now owns 239,090 shares of the company’s stock worth $968,000 after buying an additional 4,156 shares during the last quarter. Invesco Ltd. raised its position in shares of indie Semiconductor by 5.5% during the 4th quarter. Invesco Ltd. now owns 93,328 shares of the company’s stock valued at $378,000 after buying an additional 4,879 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of indie Semiconductor by 13.0% in the 4th quarter. Arizona State Retirement System now owns 51,961 shares of the company’s stock valued at $210,000 after acquiring an additional 5,960 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in indie Semiconductor by 74.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 14,897 shares of the company’s stock worth $60,000 after acquiring an additional 6,363 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Insider Transactions at indie Semiconductor

In other indie Semiconductor news, COO Michael Wittmann sold 10,875 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $2.81, for a total transaction 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Donald Mcclymont sold 65,754 shares of indie Semiconductor stock in a transaction on Friday, March 7th. The shares were sold at an average price of $2.90, for a total value of $190,686.60. Following the sale, the chief executive officer now directly owns 246,535 shares of the company’s stock, valued at approximately $714,951.50. This trade represents a 21.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 146,277 shares of company stock valued at $434,192. 8.20% of the stock is currently owned by company insiders.

indie Semiconductor Stock Performance

Shares of indie Semiconductor stock opened at $2.33 on Friday. 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 stock’s fifty day moving average is $2.14 and its two-hundred day moving average is $3.44. indie Semiconductor, Inc. has a 52 week low of $1.53 and a 52 week high of $7.82. The company has a market capitalization of $485.79 million, a PE ratio of -3.07 and a beta of 2.01.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $58.20 million. As a group, analysts expect that indie Semiconductor, Inc. will post -0.54 earnings per share for the current year.

Analyst Ratings Changes

INDI has been the topic of a number of recent research reports. UBS Group started coverage on indie Semiconductor in a research report on Friday, January 24th. They set a “neutral” rating and a $4.50 price objective on the stock. Benchmark restated a “buy” rating and issued a $8.00 price target on shares of indie Semiconductor in a research report on Wednesday, April 9th. KeyCorp cut their price objective on shares of indie Semiconductor from $8.00 to $7.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Finally, B. Riley restated a “buy” rating on shares of indie Semiconductor in a report on Thursday, April 24th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $7.50.

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.