Sei Investments Co. Decreases Holdings in indie Semiconductor, Inc. (NASDAQ:INDI)

Sei Investments Co. cut its stake in indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) by 95.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,483 shares of the company's stock after selling 503,077 shares during the period. Sei Investments Co.'s holdings in indie Semiconductor were worth $103,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in INDI. Virtu Financial LLC purchased a new position in indie Semiconductor in the 3rd quarter valued at approximately $58,000. Daiwa Securities Group Inc. grew its holdings in indie Semiconductor by 74.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 14,897 shares of the company's stock valued at $60,000 after purchasing an additional 6,363 shares during the last quarter. Cibc World Markets Corp acquired a new stake in indie Semiconductor in the fourth quarter valued at $62,000. FNY Investment Advisers LLC purchased a new position in shares of indie Semiconductor in the fourth quarter valued at $74,000. Finally, Legato Capital Management LLC raised its stake in shares of indie Semiconductor by 47.9% during the 4th quarter. Legato Capital Management LLC now owns 20,285 shares of the company's stock worth $82,000 after buying an additional 6,570 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, COO Michael Wittmann sold 10,875 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $2.81, for a total transaction of $30,558.75. Following the completion of the sale, the chief operating officer now directly owns 77,887 shares of the company's stock, valued at $218,862.47. The trade was a 12.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Donald Mcclymont sold 65,754 shares of the company'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 owns 246,535 shares of the company's stock, valued at approximately $714,951.50. The trade was 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. Insiders own 8.20% of the company's stock.

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indie Semiconductor Trading Down 0.8 %

Shares of indie Semiconductor stock traded down $0.02 during trading hours on Thursday, reaching $1.85. 409,589 shares of the company's stock were exchanged, compared to its average volume of 4,206,135. indie Semiconductor, Inc. has a 52-week low of $1.53 and a 52-week high of $7.82. The company has a fifty day moving average of $2.65 and a 200-day moving average of $3.64. 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 firm has a market capitalization of $372.54 million, a price-to-earnings ratio of -2.43 and a beta of 1.84.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate 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 return on equity of 28.08% and a negative net margin of 61.59%. Sell-side analysts forecast that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on INDI. KeyCorp lowered 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 note on Friday, February 21st. Benchmark reissued a "buy" rating and set a $8.00 price objective on shares of indie Semiconductor in a research note on Wednesday, April 9th. Finally, UBS Group began coverage on indie Semiconductor in a research note on Friday, January 24th. They issued a "neutral" rating and a $4.50 target price on the stock. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, indie Semiconductor has an average rating of "Moderate Buy" and an average price target 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.