indie Semiconductor, Inc. (NASDAQ:INDI) Stake Reduced by Portolan Capital Management LLC

Portolan Capital Management LLC decreased its position in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 37.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 845,302 shares of the company’s stock after selling 499,128 shares during the quarter. Portolan Capital Management LLC’s holdings in indie Semiconductor were worth $3,423,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. National Bank of Canada FI lifted its holdings in indie Semiconductor by 42.7% in the fourth quarter. National Bank of Canada FI now owns 13,452 shares of the company’s stock worth $54,000 after purchasing an additional 4,023 shares during the period. Rhumbline Advisers increased its stake in shares of indie Semiconductor by 1.8% during the fourth quarter. Rhumbline Advisers now owns 239,090 shares of the company’s stock valued at $968,000 after acquiring an additional 4,156 shares during the period. Invesco Ltd. lifted its position in indie Semiconductor by 5.5% in the fourth quarter. Invesco Ltd. now owns 93,328 shares of the company’s stock worth $378,000 after purchasing an additional 4,879 shares during the period. Arizona State Retirement System boosted its stake in indie Semiconductor by 13.0% during the 4th quarter. Arizona State Retirement System now owns 51,961 shares of the company’s stock valued at $210,000 after purchasing an additional 5,960 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its position in shares of indie Semiconductor by 74.6% during 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 during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Buying and Selling

In related news, CEO Donald Mcclymont sold 50,000 shares of indie Semiconductor 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 sale, the chief executive officer now owns 65,932 shares of the company’s stock, valued at approximately $205,707.84. This trade represents a 43.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michael Wittmann sold 13,570 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $2.90, for a total value of $39,353.00. Following the sale, the chief operating officer now directly owns 67,012 shares of the company’s stock, valued at $194,334.80. This trade represents a 16.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 146,277 shares of company stock worth $434,192. 8.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

INDI has been the subject of several research reports. UBS Group initiated coverage on indie Semiconductor in a research note on Friday, January 24th. They set a “neutral” rating and a $4.50 target price for the company. Benchmark reissued a “buy” rating and set a $8.00 target price on shares of indie Semiconductor in a research note on Wednesday, April 9th. Finally, KeyCorp reduced their target price on shares of indie Semiconductor from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Friday, February 21st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, indie Semiconductor presently has an average rating of “Moderate Buy” and a consensus price target of $7.50.

indie Semiconductor Trading Down 3.8 %

indie Semiconductor stock opened at $2.00 on Tuesday. The company has a 50 day moving average price of $2.75 and a 200 day moving average price of $3.66. 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 $1.53 and a 52 week high of $7.82. The firm has a market capitalization of $403.83 million, a price-to-earnings ratio of -2.63 and a beta of 1.84.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.08). indie Semiconductor had a negative net margin of 61.59% and a negative return on equity of 28.08%. The business had revenue of $58.01 million for the quarter, compared to analyst estimates of $58.20 million. Research analysts forecast that indie Semiconductor, Inc. will post -0.54 EPS for the current year.

indie Semiconductor Company 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.