Primecap Management Co. CA Increases Stock Holdings in indie Semiconductor, Inc. (NASDAQ:INDI)

Primecap Management Co. CA grew its holdings in indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) by 61.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,468,445 shares of the company's stock after purchasing an additional 9,689,326 shares during the period. Primecap Management Co. CA owned approximately 12.90% of indie Semiconductor worth $101,619,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. ProShare Advisors LLC increased its holdings in indie Semiconductor by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 27,071 shares of the company's stock worth $192,000 after purchasing an additional 2,131 shares during the period. GAMMA Investing LLC lifted its stake in indie Semiconductor by 1,743.8% in the second quarter. GAMMA Investing LLC now owns 4,130 shares of the company's stock worth $25,000 after acquiring an additional 3,906 shares during the last quarter. Wealth Effects LLC grew its holdings in indie Semiconductor by 2.8% during the 2nd quarter. Wealth Effects LLC now owns 170,700 shares of the company's stock worth $1,053,000 after acquiring an additional 4,600 shares in the last quarter. Register Financial Advisors LLC increased its position in shares of indie Semiconductor by 3.7% in the 2nd quarter. Register Financial Advisors LLC now owns 138,440 shares of the company's stock valued at $854,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Tempus Wealth Planning LLC raised its holdings in shares of indie Semiconductor by 30.6% in the 2nd quarter. Tempus Wealth Planning LLC now owns 22,353 shares of the company's stock valued at $138,000 after purchasing an additional 5,238 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Thomas Schiller sold 75,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $3.83, for a total transaction of $287,250.00. Following the completion of the sale, the chief financial officer now owns 977,192 shares in the company, valued at $3,742,645.36. This represents a 7.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Donald Mcclymont sold 200,000 shares of the firm's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $4.71, for a total transaction of $942,000.00. Following the transaction, the chief executive officer now directly owns 18,351 shares in the company, valued at $86,433.21. The trade was a 91.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 278,531 shares of company stock valued at $1,242,915. 8.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on INDI shares. Roth Mkm lowered their target price 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. Deutsche Bank Aktiengesellschaft lowered their price objective on indie Semiconductor from $9.00 to $7.00 and set a "buy" rating for the company in a research report on Friday, August 9th. Finally, Benchmark dropped their price objective on indie Semiconductor from $12.00 to $9.00 and set a "buy" rating on the stock in a report on Tuesday, November 5th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $9.79.

indie Semiconductor Stock Up 7.1 %

NASDAQ:INDI traded up $0.33 during midday trading on Friday, hitting $4.98. 2,566,251 shares of the company were exchanged, compared to its average volume of 2,894,957. The company has a current ratio of 2.39, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. indie Semiconductor, Inc. has a fifty-two week low of $3.16 and a fifty-two week high of $8.69. The company has a market capitalization of $1.01 billion, a PE ratio of -7.43 and a beta of 1.22. The company has a fifty day simple moving average of $3.89 and a 200 day simple moving average of $5.07.

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.