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

Primecap Management Co. CA grew its holdings in indie Semiconductor, Inc. (NASDAQ:INDI) by 3.2% in the fourth quarter, Holdings Channel reports. The firm owned 26,287,766 shares of the company’s stock after buying an additional 819,321 shares during the quarter. Primecap Management Co. CA owned 0.13% of indie Semiconductor worth $106,465,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Bamco Inc. NY increased its holdings in shares of indie Semiconductor by 0.6% in the 3rd quarter. Bamco Inc. NY now owns 15,240,606 shares of the company’s stock worth $60,810,000 after purchasing an additional 89,181 shares in the last quarter. State Street Corp increased its holdings in shares of indie Semiconductor by 2.3% in the 3rd quarter. State Street Corp now owns 7,102,029 shares of the company’s stock worth $28,337,000 after purchasing an additional 161,132 shares in the last quarter. Artemis Investment Management LLP increased its holdings in shares of indie Semiconductor by 482.7% in the 4th quarter. Artemis Investment Management LLP now owns 6,539,694 shares of the company’s stock worth $26,486,000 after purchasing an additional 5,417,296 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of indie Semiconductor by 7.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,944,067 shares of the company’s stock worth $15,739,000 after purchasing an additional 276,739 shares in the last quarter. Finally, Elemental Capital Partners LLC bought a new stake in shares of indie Semiconductor in the 4th quarter worth $14,272,000. Institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling at indie Semiconductor

In other indie Semiconductor news, CEO Donald Mcclymont sold 50,000 shares of the business’s stock in a transaction dated 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. The trade was a 43.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Michael Wittmann sold 18,375 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $4.10, for a total value of $75,337.50. Following the completion of the transaction, the chief operating officer now owns 28,860 shares in the company, valued at $118,326. The trade was a 38.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 169,789 shares of company stock valued at $532,037. Company insiders own 8.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on INDI. UBS Group began coverage on indie Semiconductor in a report on Friday, January 24th. They issued a “neutral” rating and a $4.50 target price for the company. Benchmark cut their price objective on indie Semiconductor from $9.00 to $8.00 and set a “buy” rating for the company in a report on Friday, February 21st. Finally, KeyCorp cut their price objective on indie Semiconductor from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Friday, February 21st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.50.

indie Semiconductor Stock Performance

Shares of INDI opened at $2.27 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.87. indie Semiconductor, Inc. has a one year low of $2.27 and a one year high of $7.82. The firm has a market capitalization of $458.35 million, a P/E ratio of -2.99 and a beta of 1.54. The business has a fifty day moving average of $3.66 and a 200 day moving average of $3.92.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.15) earnings per share (EPS) 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 company had revenue of $58.01 million for the quarter, compared to the consensus estimate of $58.20 million. As a group, sell-side analysts anticipate that indie Semiconductor, Inc. will post -0.54 EPS for the current year.

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.