indie Semiconductor, Inc. (NASDAQ:INDI) Shares Acquired by Primecap Management Co. CA

Key Points

• Primecap Management Co. CA significantly increased its stake in indie Semiconductor by 8.9%, owning over 28.6 million shares valued at approximately $58.2 million by the end of the first quarter.
• Insider trading activity showed that both COO Michael Wittmann and Director Sonalee Elizabeth Parekh sold shares recently, indicating an 11.89% and 8.99% decrease in their respective holdings.
• Research analysts have a consensus rating of "Moderate Buy" for indie Semiconductor, with target prices varying, the highest being set at $8.00 by Benchmark.

Primecap Management Co. CA grew its holdings in indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) by 8.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 28,623,386 shares of the company's stock after purchasing an additional 2,335,620 shares during the quarter. Primecap Management Co. CA owned 13.73% of indie Semiconductor worth $58,249,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Bamco Inc. NY increased its stake in indie Semiconductor by 30.6% in the fourth quarter. Bamco Inc. NY now owns 19,901,826 shares of the company's stock valued at $80,602,000 after purchasing an additional 4,661,220 shares during the last quarter. Frontier Capital Management Co. LLC boosted its holdings in shares of indie Semiconductor by 60.0% in the 4th quarter. Frontier Capital Management Co. LLC now owns 17,374,268 shares of the company's stock valued at $70,366,000 after buying an additional 6,517,978 shares in the last quarter. Vanguard Group Inc. grew its position in shares of indie Semiconductor by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 12,805,999 shares of the company's stock valued at $26,060,000 after buying an additional 220,737 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in indie Semiconductor by 23.1% during the 1st quarter. Harbor Capital Advisors Inc. now owns 4,102,127 shares of the company's stock worth $8,348,000 after acquiring an additional 768,907 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in indie Semiconductor by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 3,996,194 shares of the company's stock valued at $16,188,000 after acquiring an additional 52,127 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Buying and Selling at indie Semiconductor

In related news, COO Michael Wittmann sold 13,725 shares of the business's stock in a transaction dated 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 represents a 11.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sonalee Elizabeth Parekh sold 11,841 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $3.42, for a total value of $40,496.22. Following the sale, the director owned 119,857 shares in the company, valued at $409,910.94. The trade was a 8.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,823 shares of company stock valued at $128,088. 5.60% of the stock is owned by company insiders.

indie Semiconductor Stock Down 0.3%

Shares of INDI opened at $3.63 on Thursday. indie Semiconductor, Inc. has a fifty-two week low of $1.53 and a fifty-two week high of $5.57. The company's fifty day moving average is $3.62 and its two-hundred day moving average is $3.07. The firm has a market cap of $771.41 million, a PE ratio of -4.84 and a beta of 2.23. The company has a quick ratio of 4.64, a current ratio of 5.30 and a debt-to-equity ratio of 0.85.

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

Wall Street Analyst Weigh In

INDI has been the subject of a number of research analyst reports. Benchmark reissued a "buy" rating and issued a $8.00 target price (up from $6.00) on shares of indie Semiconductor in a research report on Wednesday, June 25th. B. Riley reissued a "buy" rating on shares of indie Semiconductor in a report on Thursday, April 24th. Craig Hallum cut their target price on shares of indie Semiconductor from $8.00 to $6.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Finally, KeyCorp reduced their price target 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. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $6.08.

About indie Semiconductor

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.

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