Royce & Associates LP purchased a new stake in indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 615,000 shares of the company's stock, valued at approximately $2,491,000. Royce & Associates LP owned approximately 0.30% of indie Semiconductor as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of INDI. Virtu Financial LLC acquired a new position in shares of indie Semiconductor in the 3rd quarter worth approximately $58,000. Daiwa Securities Group Inc. boosted its stake in shares of indie Semiconductor by 74.6% in the 4th 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 in the last quarter. FNY Investment Advisers LLC bought a new stake in shares of indie Semiconductor in the 4th quarter worth about $74,000. Legato Capital Management LLC increased its position 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 purchasing an additional 6,570 shares in the last quarter. Finally, M&T Bank Corp boosted its position in indie Semiconductor by 41.5% in the fourth quarter. M&T Bank Corp now owns 28,348 shares of the company's stock valued at $115,000 after buying an additional 8,308 shares in the last quarter. Institutional investors own 67.73% of the company's stock.
Insider Activity at indie Semiconductor
In related news, CEO Donald Mcclymont sold 65,754 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $2.90, for a total value of $190,686.60. Following the sale, the chief executive officer now directly owns 246,535 shares in the company, valued at $714,951.50. This trade represents a 21.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Michael Wittmann sold 13,570 shares of the company'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 $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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 151,414 shares of company stock worth $456,699. 8.20% of the stock is owned by insiders.
indie Semiconductor Trading Down 5.1 %
NASDAQ:INDI traded down $0.12 on Tuesday, hitting $2.23. 3,336,369 shares of the stock were exchanged, compared to its average volume of 3,623,809. The stock has a market capitalization of $450.27 million, a price-to-earnings ratio of -2.93 and a beta of 1.54. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.39. indie Semiconductor, Inc. has a 52 week low of $2.12 and a 52 week high of $7.82. The company's 50-day moving average price is $3.51 and its 200 day moving average price is $3.87.
indie Semiconductor (NASDAQ:INDI - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.08). The business had revenue of $58.01 million during the quarter, compared to the consensus estimate of $58.20 million. indie Semiconductor had a negative net margin of 61.59% and a negative return on equity of 28.08%. On average, equities research analysts forecast that indie Semiconductor, Inc. will post -0.54 earnings per share for the current year.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on INDI shares. Benchmark dropped their price target on indie Semiconductor from $9.00 to $8.00 and set a "buy" rating for the company in a report on Friday, February 21st. 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 for the company. Finally, KeyCorp reduced their price target on shares of indie Semiconductor from $8.00 to $7.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $7.50.
Read Our Latest Report on indie Semiconductor
indie Semiconductor Profile
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Free Report)
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.
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