Portolan Capital Management LLC Lowers Stock Position in indie Semiconductor, Inc. (NASDAQ:INDI)

Portolan Capital Management LLC lessened its stake in shares of indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) by 37.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 845,302 shares of the company's stock after selling 499,128 shares during the quarter. Portolan Capital Management LLC owned about 0.42% of indie Semiconductor worth $3,423,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Walleye Capital LLC acquired a new stake in shares of indie Semiconductor in the 4th quarter worth $62,000. Barclays PLC boosted its holdings in indie Semiconductor by 12.4% in the 4th quarter. Barclays PLC now owns 288,715 shares of the company's stock valued at $1,169,000 after purchasing an additional 31,916 shares in the last quarter. Raymond James Financial Inc. acquired a new position in indie Semiconductor during the 4th quarter worth approximately $421,000. Bank of Nova Scotia purchased a new position in shares of indie Semiconductor during the 4th quarter worth approximately $757,000. Finally, Invesco Ltd. lifted its holdings in shares of indie Semiconductor by 5.5% in 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 during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Donald Mcclymont sold 65,754 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $2.90, for a total transaction of $190,686.60. Following the sale, the chief executive officer now owns 246,535 shares in the company, valued at approximately $714,951.50. This trade represents a 21.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Michael Wittmann sold 13,570 shares of indie Semiconductor stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $2.90, for a total transaction of $39,353.00. Following the completion of the sale, the chief operating officer now directly owns 67,012 shares of the company's stock, valued at $194,334.80. The trade was a 16.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 146,277 shares of company stock worth $434,192. 8.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

INDI has been the subject of several research analyst reports. UBS Group started coverage on indie Semiconductor in a research report on Friday, January 24th. They issued a "neutral" rating and a $4.50 price objective for the company. Benchmark reiterated a "buy" rating and issued a $8.00 price objective on shares of indie Semiconductor in a research note on Wednesday, April 9th. Finally, KeyCorp decreased their price objective on shares of indie Semiconductor from $8.00 to $7.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $7.50.

indie Semiconductor Price Performance

Shares of INDI stock traded up $0.05 during trading hours on Friday, hitting $1.91. The company's stock had a trading volume of 2,381,329 shares, compared to its average volume of 3,775,037. 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 business has a fifty day moving average of $2.57 and a 200-day moving average of $3.61. indie Semiconductor, Inc. has a twelve month low of $1.53 and a twelve month high of $7.82. The stock has a market cap of $385.66 million, a price-to-earnings ratio of -2.51 and a beta of 1.84.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last announced its 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 company had revenue of $58.01 million for the quarter, compared to analyst estimates of $58.20 million. indie Semiconductor had a negative net margin of 61.59% and a negative return on equity of 28.08%. As a group, equities research analysts anticipate that indie Semiconductor, Inc. will post -0.54 EPS for the current year.

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.