indie Semiconductor, Inc. (NASDAQ:INDI) Shares Bought by Northern Trust Corp

Northern Trust Corp boosted its holdings in indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) by 8.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,535,552 shares of the company's stock after purchasing an additional 118,642 shares during the quarter. Northern Trust Corp owned about 0.76% of indie Semiconductor worth $6,219,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Elemental Capital Partners LLC purchased a new stake in shares of indie Semiconductor in the fourth quarter valued at about $14,272,000. Tudor Investment Corp ET AL acquired a new position in indie Semiconductor in the 4th quarter valued at about $6,040,000. Vanguard Group Inc. raised its stake in indie Semiconductor by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 12,585,262 shares of the company's stock valued at $50,970,000 after acquiring an additional 942,088 shares during the last quarter. Penn Capital Management Company LLC acquired a new stake in indie Semiconductor during the 4th quarter worth approximately $3,575,000. Finally, Primecap Management Co. CA lifted its position in indie Semiconductor by 3.2% during the 4th quarter. Primecap Management Co. CA now owns 26,287,766 shares of the company's stock worth $106,465,000 after acquiring an additional 819,321 shares during the period. Institutional investors and hedge funds own 67.73% of the company's stock.

indie Semiconductor Stock Performance

Shares of INDI remained flat at $2.42 during trading hours on Friday. 1,489,065 shares of the stock were exchanged, compared to its average volume of 3,719,664. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. indie Semiconductor, Inc. has a 1-year low of $1.53 and a 1-year high of $7.82. The firm has a 50-day moving average of $2.13 and a 200 day moving average of $3.38. The stock has a market capitalization of $514.28 million, a P/E ratio of -3.18 and a beta of 2.01.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.08). The company had revenue of $54.08 million during the quarter, compared to analysts' expectations of $54.94 million. indie Semiconductor had a negative net margin of 61.59% and a negative return on equity of 28.08%. The firm's quarterly revenue was up 3.2% compared to the same quarter last year. During the same period last year, the company posted ($0.10) earnings per share. Sell-side analysts forecast that indie Semiconductor, Inc. will post -0.54 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Michael Wittmann sold 13,570 shares of indie Semiconductor stock in a transaction on Friday, March 7th. The stock was sold at an average price of $2.90, for a total transaction of $39,353.00. Following the completion of the transaction, the chief operating officer now owns 67,012 shares of the company's stock, valued at $194,334.80. The trade was a 16.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Donald Mcclymont sold 65,754 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $2.90, for a total transaction of $190,686.60. Following the completion of the sale, the chief executive officer now owns 246,535 shares in the company, valued at $714,951.50. This represents a 21.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 146,277 shares of company stock valued at $434,192. 8.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on INDI shares. KeyCorp dropped their target price on indie Semiconductor from $7.00 to $6.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Benchmark restated a "buy" rating and set a $6.00 price objective on shares of indie Semiconductor in a research report on Wednesday. B. Riley restated a "buy" rating on shares of indie Semiconductor in a research note on Thursday, April 24th. Finally, Craig Hallum reduced 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. 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 data from MarketBeat, indie Semiconductor presently has an average rating of "Moderate Buy" and an average target price of $5.75.

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.