indie Semiconductor, Inc. (NASDAQ:INDI) Shares Acquired by Meros Investment Management LP

Meros Investment Management LP raised its holdings in shares of indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) by 43.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,240,949 shares of the company's stock after purchasing an additional 375,624 shares during the period. indie Semiconductor accounts for approximately 2.3% of Meros Investment Management LP's investment portfolio, making the stock its 22nd biggest holding. Meros Investment Management LP owned about 0.61% of indie Semiconductor worth $5,026,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. National Bank of Canada FI raised its stake in indie Semiconductor by 42.7% in the 4th quarter. National Bank of Canada FI now owns 13,452 shares of the company's stock worth $54,000 after acquiring an additional 4,023 shares during the last quarter. ArrowMark Colorado Holdings LLC purchased a new stake in indie Semiconductor in the fourth quarter valued at approximately $55,000. Regal Investment Advisors LLC raised its position in indie Semiconductor by 39.2% during the 4th quarter. Regal Investment Advisors LLC now owns 14,174 shares of the company's stock worth $57,000 after buying an additional 3,988 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in indie Semiconductor by 74.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 14,897 shares of the company's stock valued at $60,000 after acquiring an additional 6,363 shares during the period. Finally, Cibc World Markets Corp purchased a new stake in shares of indie Semiconductor in the 4th quarter valued at $62,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other indie Semiconductor news, CEO Donald Mcclymont sold 65,754 shares of the business's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $2.90, for a total transaction of $190,686.60. Following the transaction, the chief executive officer now owns 246,535 shares of the company's stock, valued at approximately $714,951.50. The trade was a 21.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Michael Wittmann sold 13,570 shares of the firm'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 $39,353.00. Following the sale, the chief operating officer now owns 67,012 shares of the company's stock, 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. In the last three months, insiders have sold 146,277 shares of company stock worth $434,192. Insiders own 8.20% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Craig Hallum reduced their target price on shares of indie Semiconductor from $8.00 to $6.00 and set a "buy" rating for the company in a report on Tuesday. KeyCorp decreased their price objective on indie Semiconductor from $7.00 to $6.00 and set an "overweight" rating for the company in a report on Tuesday. UBS Group initiated coverage on indie Semiconductor in a report on Friday, January 24th. They set a "neutral" rating and a $4.50 target price on the stock. B. Riley reissued a "buy" rating on shares of indie Semiconductor in a report on Thursday, April 24th. Finally, Benchmark dropped their price objective on shares of indie Semiconductor from $8.00 to $6.00 and set a "buy" rating on the stock in a research note on Tuesday. One analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, indie Semiconductor has a consensus rating of "Moderate Buy" and a consensus price target of $5.75.

indie Semiconductor Price Performance

Shares of INDI stock traded down $0.08 during trading hours on Friday, hitting $2.70. 2,149,249 shares of the company's stock were exchanged, compared to its average volume of 3,711,058. indie Semiconductor, Inc. has a fifty-two week low of $1.53 and a fifty-two week high of $7.82. The firm has a market cap of $562.93 million, a P/E ratio of -3.55 and a beta of 2.01. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. The firm has a 50 day moving average of $2.12 and a two-hundred day moving average of $3.42.

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

indie Semiconductor 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.