Penn Capital Management Company LLC Buys Shares of 882,832 indie Semiconductor, Inc. (NASDAQ:INDI)

Penn Capital Management Company LLC acquired a new position in shares of indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 882,832 shares of the company's stock, valued at approximately $3,575,000. Penn Capital Management Company LLC owned about 0.44% of indie Semiconductor as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in INDI. Barclays PLC lifted its position in shares of indie Semiconductor by 330.7% during the 3rd quarter. Barclays PLC now owns 256,799 shares of the company's stock valued at $1,026,000 after buying an additional 197,179 shares during the last quarter. Geode Capital Management LLC boosted its position in indie Semiconductor by 7.5% during the third 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 during the period. Virtu Financial LLC purchased a new position in shares of indie Semiconductor in the third quarter worth about $58,000. American Trust lifted its stake in shares of indie Semiconductor by 28.2% during the 3rd quarter. American Trust now owns 28,976 shares of the company's stock valued at $116,000 after buying an additional 6,375 shares in the last quarter. Finally, 272 Capital LP purchased a new position in indie Semiconductor in the 3rd quarter valued at approximately $511,000. Institutional investors own 67.73% of the company's stock.

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 the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $2.90, for a total value of $39,353.00. Following the transaction, the chief operating officer now owns 67,012 shares in the company, valued at $194,334.80. This trade represents a 16.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 146,277 shares of company stock valued at $434,192 over the last quarter. 8.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. UBS Group began coverage on indie Semiconductor in a research note on Friday, January 24th. They set a "neutral" rating and a $4.50 price objective on the stock. B. Riley reaffirmed a "buy" rating on shares of indie Semiconductor in a research note on Thursday. Benchmark reiterated a "buy" rating and issued a $8.00 target price on shares of indie Semiconductor in a research note on Wednesday, April 9th. Finally, KeyCorp decreased their target price on indie Semiconductor from $8.00 to $7.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $7.50.

indie Semiconductor Trading Down 0.7 %

INDI traded down $0.02 on Tuesday, hitting $2.00. 658,972 shares of the company were exchanged, compared to its average volume of 4,022,032. 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 12 month low of $1.53 and a 12 month high of $7.82. The firm has a fifty day simple moving average of $2.34 and a two-hundred day simple moving average of $3.53. The stock has a market capitalization of $415.95 million, a PE ratio of -2.63 and a beta of 1.84.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last posted its 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 return on equity of 28.08% and a negative net margin of 61.59%. The business had revenue of $58.01 million during the quarter, compared to the consensus estimate of $58.20 million. Sell-side analysts expect that indie Semiconductor, Inc. will post -0.54 earnings per share 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.