Elemental Capital Partners LLC Acquires Shares of 3,523,992 indie Semiconductor, Inc. (NASDAQ:INDI)

Elemental Capital Partners LLC acquired a new stake in indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,523,992 shares of the company's stock, valued at approximately $14,272,000. indie Semiconductor comprises approximately 13.4% of Elemental Capital Partners LLC's investment portfolio, making the stock its 3rd largest position. Elemental Capital Partners LLC owned approximately 1.75% of indie Semiconductor at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Primecap Management Co. CA grew its holdings in shares of indie Semiconductor by 61.4% during the third quarter. Primecap Management Co. CA now owns 25,468,445 shares of the company's stock valued at $101,619,000 after buying an additional 9,689,326 shares during the last quarter. Bamco Inc. NY lifted its holdings in indie Semiconductor by 0.6% in the 3rd quarter. Bamco Inc. NY now owns 15,240,606 shares of the company's stock valued at $60,810,000 after purchasing an additional 89,181 shares in the last quarter. State Street Corp boosted its stake in indie Semiconductor by 2.3% during the 3rd quarter. State Street Corp now owns 7,102,029 shares of the company's stock worth $28,337,000 after purchasing an additional 161,132 shares during the last quarter. Artemis Investment Management LLP grew its holdings in shares of indie Semiconductor by 482.7% during the fourth quarter. Artemis Investment Management LLP now owns 6,539,694 shares of the company's stock worth $26,486,000 after buying an additional 5,417,296 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of 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 buying an additional 276,739 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

indie Semiconductor Price Performance

NASDAQ:INDI traded up $0.01 during midday trading on Friday, reaching $4.28. The stock had a trading volume of 2,118,464 shares, compared to its average volume of 3,262,909. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.39. indie Semiconductor, Inc. has a 12-month low of $3.16 and a 12-month high of $7.82. The firm has a fifty day simple moving average of $4.26 and a two-hundred day simple moving average of $4.21.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.12). The firm had revenue of $53.97 million for the quarter, compared to analyst estimates of $53.65 million. indie Semiconductor had a negative return on equity of 24.04% and a negative net margin of 49.88%. During the same period last year, the firm earned ($0.17) EPS. On average, sell-side analysts predict that indie Semiconductor, Inc. will post -0.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on INDI shares. Roth Mkm reduced their target price on shares of indie Semiconductor from $7.00 to $5.00 and set a "buy" rating on the stock in a research note on Friday, November 8th. UBS Group began coverage on indie Semiconductor in a research report on Friday, January 24th. They issued a "neutral" rating and a $4.50 price target on the stock. Finally, Benchmark lowered their price objective on indie Semiconductor from $12.00 to $9.00 and set a "buy" rating for the company in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, indie Semiconductor currently has an average rating of "Moderate Buy" and an average price target of $8.29.

Insider Activity

In other indie Semiconductor news, CEO Donald Mcclymont sold 200,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $4.71, for a total transaction of $942,000.00. Following the transaction, the chief executive officer now owns 18,351 shares of the company's stock, valued at $86,433.21. This trade represents a 91.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Michael Wittmann sold 18,375 shares of the business's stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $4.10, for a total transaction of $75,337.50. Following the sale, the chief operating officer now directly owns 28,860 shares of the company's stock, valued at $118,326. This represents a 38.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 276,593 shares of company stock valued at $1,272,291 over the last 90 days. Insiders own 8.20% of the company's stock.

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.