Wealth Effects LLC Lowers Stake in indie Semiconductor, Inc. (NASDAQ:INDI)

Wealth Effects LLC decreased its position in shares of indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) by 67.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 34,800 shares of the company's stock after selling 71,900 shares during the period. Wealth Effects LLC's holdings in indie Semiconductor were worth $141,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Xponance Inc. purchased a new stake in shares of indie Semiconductor in the 2nd quarter worth approximately $63,000. Virtu Financial LLC purchased a new stake in shares of indie Semiconductor in the third quarter worth $58,000. Algert Global LLC bought a new position in shares of indie Semiconductor during the second quarter valued at $97,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of indie Semiconductor in the 2nd quarter worth about $105,000. Finally, FNY Investment Advisers LLC purchased a new position in shares of indie Semiconductor in the 4th quarter worth about $74,000. Institutional investors own 67.73% of the company's stock.

Analyst Ratings Changes

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

indie Semiconductor Stock Performance

Shares of NASDAQ:INDI traded down $0.13 during midday trading on Friday, hitting $4.10. The company had a trading volume of 5,751,780 shares, compared to its average volume of 3,517,408. 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 company has a fifty day moving average of $4.35 and a two-hundred day moving average of $4.29. The company has a market cap of $827.87 million, a price-to-earnings ratio of -6.12 and a beta of 1.41. indie Semiconductor, Inc. has a 12-month low of $3.16 and a 12-month high of $7.82.

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

Insider Transactions at indie Semiconductor

In other indie Semiconductor news, COO Michael Wittmann sold 18,375 shares of the stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 28,860 shares of the company's stock, valued at $118,326. This trade represents a 38.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Donald Mcclymont sold 50,000 shares of the business's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $4.31, for a total transaction of $215,500.00. Following the completion of the transaction, the chief executive officer now directly owns 18,351 shares in the company, valued at $79,092.81. This trade represents a 73.15 % decrease in their position. 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 three months. Corporate insiders own 8.20% of the company's stock.

About indie Semiconductor

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.