Vanguard Group Inc. Acquires 942,088 Shares of indie Semiconductor, Inc. (NASDAQ:INDI)

Vanguard Group Inc. grew its position in indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) by 8.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 12,585,262 shares of the company's stock after acquiring an additional 942,088 shares during the period. Vanguard Group Inc. owned 6.23% of indie Semiconductor worth $50,970,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of indie Semiconductor by 10.0% during 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 stake 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 worth $15,739,000 after purchasing an additional 276,739 shares during the last quarter. State Street Corp raised its position 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. Barclays PLC grew its position in shares of indie Semiconductor by 330.7% in the 3rd quarter. Barclays PLC now owns 256,799 shares of the company's stock valued at $1,026,000 after buying an additional 197,179 shares during the last quarter. Finally, Elemental Capital Partners LLC acquired a new stake in shares of indie Semiconductor in the fourth quarter valued at about $14,272,000. Institutional investors own 67.73% of the company's stock.

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Wall Street Analysts Forecast Growth

Several analysts recently commented on INDI shares. KeyCorp reduced their target price on indie Semiconductor from $8.00 to $7.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. Benchmark reissued a "buy" rating and issued a $8.00 price objective on shares of indie Semiconductor in a research report on Wednesday, April 9th. Finally, UBS Group started coverage on indie Semiconductor in a research note on Friday, January 24th. They issued a "neutral" rating and a $4.50 price target on the stock. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $7.50.

Insider Buying and Selling

In other indie Semiconductor news, CEO Donald Mcclymont sold 65,754 shares of the business's stock in a transaction on Friday, March 7th. The stock was 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 in the company, valued at $714,951.50. The trade was a 21.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 sale, the chief operating officer now owns 77,887 shares in the company, valued at $218,862.47. This represents a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 146,277 shares of company stock worth $434,192. Insiders own 8.20% of the company's stock.

indie Semiconductor Stock Down 0.8 %

NASDAQ INDI traded down $0.02 on Thursday, reaching $1.85. The company had a trading volume of 409,589 shares, compared to its average volume of 4,206,135. 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's fifty day moving average is $2.65 and its 200 day moving average is $3.64. indie Semiconductor, Inc. has a 52-week low of $1.53 and a 52-week high of $7.82. The stock has a market capitalization of $372.54 million, a P/E ratio of -2.43 and a beta of 1.84.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last issued 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). The business had revenue of $58.01 million for the quarter, compared to analysts' expectations of $58.20 million. indie Semiconductor had a negative net margin of 61.59% and a negative return on equity of 28.08%. Sell-side analysts anticipate that indie Semiconductor, Inc. will post -0.54 earnings per share for the current fiscal 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.