General American Investors Co. Inc. Buys 851,753 Shares of indie Semiconductor, Inc. (NASDAQ:INDI)

General American Investors Co. Inc. raised its stake in indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) by 77.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,946,921 shares of the company's stock after purchasing an additional 851,753 shares during the period. General American Investors Co. Inc. owned 0.93% of indie Semiconductor worth $3,962,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of INDI. Charles Schwab Investment Management Inc. increased its holdings in shares of indie Semiconductor by 8.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,431,093 shares of the company's stock valued at $5,796,000 after purchasing an additional 112,793 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of indie Semiconductor in the fourth quarter valued at $421,000. Swiss National Bank increased its holdings in shares of indie Semiconductor by 13.1% in the fourth quarter. Swiss National Bank now owns 352,700 shares of the company's stock valued at $1,428,000 after purchasing an additional 40,900 shares during the last quarter. Royce & Associates LP acquired a new position in shares of indie Semiconductor in the fourth quarter valued at about $2,491,000. Finally, Cibc World Markets Corp acquired a new position in shares of indie Semiconductor in the fourth quarter valued at about $62,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, COO Michael Wittmann sold 13,725 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $2.59, for a total transaction of $35,547.75. Following the completion of the sale, the chief operating officer owned 101,662 shares of the company's stock, valued at $263,304.58. This trade represents a 11.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Sonalee Elizabeth Parekh sold 11,841 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $3.42, for a total transaction of $40,496.22. Following the sale, the director directly owned 119,857 shares of the company's stock, valued at approximately $409,910.94. This trade represents a 8.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,823 shares of company stock valued at $128,088 in the last three months. Insiders own 5.60% of the company's stock.

indie Semiconductor Trading Down 4.9%

NASDAQ INDI traded down $0.24 during trading hours on Friday, reaching $4.68. The company's stock had a trading volume of 5,756,794 shares, compared to its average volume of 3,959,111. The firm has a fifty day simple moving average of $3.25 and a 200-day simple moving average of $3.08. The stock has a market cap of $994.55 million, a P/E ratio of -6.24 and a beta of 2.20. indie Semiconductor, Inc. has a 52 week low of $1.53 and a 52 week high of $6.52. The company has a debt-to-equity ratio of 0.85, a current ratio of 5.30 and a quick ratio of 4.64.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last released its earnings results on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.08). The business had revenue of $54.08 million during the quarter, compared to the consensus estimate of $54.94 million. indie Semiconductor had a negative net margin of 62.64% and a negative return on equity of 27.25%. The company's revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.10) EPS. Equities analysts forecast that indie Semiconductor, Inc. will post -0.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on INDI shares. Craig Hallum cut their price objective on shares of indie Semiconductor from $8.00 to $6.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Benchmark reaffirmed a "buy" rating and set a $8.00 price objective (up previously from $6.00) on shares of indie Semiconductor in a research report on Wednesday, June 25th. KeyCorp cut their price objective on shares of indie Semiconductor from $7.00 to $6.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Finally, B. Riley reaffirmed a "buy" rating on shares of indie Semiconductor in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $6.08.

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.