Intech Investment Management LLC Boosts Stake in indie Semiconductor, Inc. (NASDAQ:INDI)

Intech Investment Management LLC increased its stake in indie Semiconductor, Inc. (NASDAQ:INDI) by 124.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 80,149 shares of the company’s stock after acquiring an additional 44,397 shares during the period. Intech Investment Management LLC’s holdings in indie Semiconductor were worth $325,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in indie Semiconductor by 10.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,318,300 shares of the company’s stock worth $5,260,000 after purchasing an additional 120,071 shares during the last quarter. Geode Capital Management LLC lifted its position in 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 buying an additional 276,739 shares during the last quarter. State Street Corp grew its position in indie Semiconductor by 2.3% during the third quarter. State Street Corp now owns 7,102,029 shares of the company’s stock valued at $28,337,000 after acquiring an additional 161,132 shares during the last quarter. Barclays PLC raised its stake in shares of indie Semiconductor by 330.7% during the third quarter. Barclays PLC now owns 256,799 shares of the company’s stock worth $1,026,000 after acquiring an additional 197,179 shares in the last quarter. Finally, Elemental Capital Partners LLC bought a new stake in shares of indie Semiconductor in the 4th quarter worth approximately $14,272,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on INDI. KeyCorp reduced their target price on shares of indie Semiconductor from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Benchmark lowered their target price on indie Semiconductor from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Finally, UBS Group started coverage on indie Semiconductor in a research report on Friday, January 24th. They set a “neutral” rating and a $4.50 price target on the stock. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, indie Semiconductor has an average rating of “Moderate Buy” and a consensus target price of $7.50.

indie Semiconductor Stock Performance

Shares of NASDAQ:INDI opened at $2.23 on Wednesday. The company has a current ratio of 2.39, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average price of $3.48 and a 200-day moving average price of $3.86. The company has a market cap of $450.27 million, a price-to-earnings ratio of -2.93 and a beta of 1.54. indie Semiconductor, Inc. has a 12 month low of $2.12 and a 12 month high of $7.82.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $58.20 million. As a group, equities analysts anticipate that indie Semiconductor, Inc. will post -0.54 EPS for the current year.

Insider Buying and Selling

In related news, CEO Donald Mcclymont sold 65,754 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $2.90, for a total value of $190,686.60. Following the completion of the transaction, the chief executive officer now directly owns 246,535 shares of the company’s stock, valued at $714,951.50. This represents a 21.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Michael Wittmann sold 13,570 shares of indie Semiconductor 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 $39,353.00. Following the sale, the chief operating officer now directly owns 67,012 shares in the company, valued at approximately $194,334.80. The trade was a 16.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 151,414 shares of company stock valued at $456,699 over the last quarter. 8.20% of the stock is owned by company insiders.

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.