Primecap Management Co. CA Grows Position in indie Semiconductor, Inc. (NASDAQ:INDI)

Primecap Management Co. CA lifted its position in indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) by 3.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,287,766 shares of the company's stock after acquiring an additional 819,321 shares during the quarter. Primecap Management Co. CA owned 13.02% of indie Semiconductor worth $106,465,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in shares of indie Semiconductor in the third quarter valued at about $58,000. Daiwa Securities Group Inc. grew its stake in shares of indie Semiconductor by 74.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 14,897 shares of the company's stock worth $60,000 after acquiring an additional 6,363 shares during the last quarter. Cibc World Markets Corp purchased a new stake in shares of indie Semiconductor during the fourth quarter worth about $62,000. FNY Investment Advisers LLC purchased a new stake in shares of indie Semiconductor during the fourth quarter worth about $74,000. Finally, Legato Capital Management LLC boosted its position in indie Semiconductor by 47.9% in the fourth quarter. Legato Capital Management LLC now owns 20,285 shares of the company's stock valued at $82,000 after buying an additional 6,570 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

INDI has been the topic of a number of recent research reports. UBS Group initiated coverage on indie Semiconductor in a research report on Friday, January 24th. They issued a "neutral" rating and a $4.50 target price on the stock. KeyCorp dropped their target price on indie Semiconductor from $8.00 to $7.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. Finally, Benchmark dropped their target price on indie Semiconductor from $9.00 to $8.00 and set a "buy" rating on the stock in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $7.50.

Remove Ads

indie Semiconductor Price Performance

NASDAQ INDI traded up $0.01 during mid-day trading on Friday, hitting $2.23. The stock had a trading volume of 5,874,103 shares, compared to its average volume of 3,616,482. The firm's 50 day moving average is $3.54 and its 200 day moving average is $3.88. indie Semiconductor, Inc. has a twelve month low of $2.12 and a twelve month high of $7.82. 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 stock has a market capitalization of $450.27 million, a price-to-earnings ratio of -2.93 and a beta of 1.54.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The firm had revenue of $58.01 million during 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%. Equities research analysts forecast that indie Semiconductor, Inc. will post -0.54 earnings per share for the current fiscal year.

Insider Buying and Selling at indie Semiconductor

In other news, CEO Donald Mcclymont sold 50,000 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $3.12, for a total transaction of $156,000.00. Following the completion of the transaction, the chief executive officer now directly owns 65,932 shares in the company, valued at approximately $205,707.84. This represents a 43.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Michael Wittmann sold 18,375 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $4.10, for a total value of $75,337.50. Following the transaction, the chief operating officer now owns 28,860 shares of the company's stock, valued at approximately $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 169,789 shares of company stock worth $532,037 in the last three months. 8.20% of the stock is owned by corporate insiders.

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.