Vanguard Group Inc. Raises Stock Holdings in indie Semiconductor, Inc. (NASDAQ:INDI)

Vanguard Group Inc. lifted its stake in indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) by 9.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,028,012 shares of the company's stock after purchasing an additional 763,140 shares during the period. Vanguard Group Inc. owned 5.01% of indie Semiconductor worth $56,876,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of INDI. Swiss National Bank increased its stake in shares of indie Semiconductor by 7.3% in the 1st quarter. Swiss National Bank now owns 91,000 shares of the company's stock worth $711,000 after acquiring an additional 6,200 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of indie Semiconductor by 21.2% in the 1st quarter. Bank of New York Mellon Corp now owns 24,418 shares of the company's stock worth $191,000 after acquiring an additional 4,272 shares in the last quarter. Citigroup Inc. increased its stake in shares of indie Semiconductor by 102.7% in the 1st quarter. Citigroup Inc. now owns 76,416 shares of the company's stock worth $597,000 after acquiring an additional 38,721 shares in the last quarter. BlackRock Inc. increased its stake in shares of indie Semiconductor by 4.0% in the 1st quarter. BlackRock Inc. now owns 921,562 shares of the company's stock worth $7,197,000 after acquiring an additional 35,596 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its stake in shares of indie Semiconductor by 1.9% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,162,433 shares of the company's stock worth $9,079,000 after acquiring an additional 21,369 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other indie Semiconductor news, President Ichiro Aoki sold 50,000 shares of indie Semiconductor stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $6.77, for a total transaction of $338,500.00. Following the transaction, the president now owns 31,208 shares of the company's stock, valued at $211,278.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Michael Wittmann sold 8,700 shares of the business's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $6.95, for a total value of $60,465.00. Following the transaction, the chief operating officer now owns 35,460 shares of the company's stock, valued at $246,447. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President Ichiro Aoki sold 50,000 shares of the business's stock in a transaction on Monday, March 4th. The stock was sold at an average price of $6.77, for a total transaction of $338,500.00. Following the completion of the transaction, the president now directly owns 31,208 shares in the company, valued at approximately $211,278.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 111,491 shares of company stock valued at $730,936. 9.90% of the stock is owned by insiders.

indie Semiconductor Stock Up 0.7 %

NASDAQ:INDI traded up $0.05 on Monday, reaching $6.77. 1,507,159 shares of the stock traded hands, compared to its average volume of 2,466,551. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -7.96 and a beta of 1.15. The company has a current ratio of 1.96, a quick ratio of 1.72 and a debt-to-equity ratio of 0.33. indie Semiconductor, Inc. has a 12 month low of $4.67 and a 12 month high of $10.85. The company's fifty day simple moving average is $6.67 and its 200 day simple moving average is $6.67.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.09) by $0.04. The firm had revenue of $70.13 million for the quarter, compared to the consensus estimate of $72.69 million. indie Semiconductor had a negative net margin of 52.46% and a negative return on equity of 15.84%. Equities analysts predict that indie Semiconductor, Inc. will post -0.42 EPS for the current fiscal year.

Analysts Set New Price Targets

INDI has been the subject of several research reports. Craig Hallum decreased their price target on shares of indie Semiconductor from $12.00 to $10.00 and set a "buy" rating for the company in a research note on Friday, February 23rd. KeyCorp reduced their price objective on shares of indie Semiconductor from $12.00 to $10.00 and set an "overweight" rating for the company in a research note on Friday, February 23rd. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $13.50.

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.