Primecap Management Co. CA Buys 819,321 Shares of indie Semiconductor, Inc. (NASDAQ:INDI)

Primecap Management Co. CA increased its stake in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 3.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,287,766 shares of the company’s stock after acquiring an additional 819,321 shares during the quarter. Primecap Management Co. CA owned approximately 13.02% of indie Semiconductor worth $106,465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Bamco Inc. NY grew its position in indie Semiconductor by 0.6% during the 3rd quarter. Bamco Inc. NY now owns 15,240,606 shares of the company’s stock worth $60,810,000 after acquiring an additional 89,181 shares during the last quarter. State Street Corp grew its position in indie Semiconductor by 2.3% during the 3rd quarter. State Street Corp now owns 7,102,029 shares of the company’s stock worth $28,337,000 after acquiring an additional 161,132 shares during the last quarter. Artemis Investment Management LLP grew its position in indie Semiconductor by 482.7% during the 4th quarter. Artemis Investment Management LLP now owns 6,539,694 shares of the company’s stock worth $26,486,000 after acquiring an additional 5,417,296 shares during the last quarter. Geode Capital Management LLC grew its position in indie Semiconductor by 7.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,944,067 shares of the company’s stock worth $15,739,000 after acquiring an additional 276,739 shares during the last quarter. Finally, Elemental Capital Partners LLC bought a new position in indie Semiconductor during the 4th quarter worth approximately $14,272,000. 67.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on INDI shares. Benchmark dropped their price objective on indie Semiconductor from $9.00 to $8.00 and set a “buy” rating for the company in a report on Friday, February 21st. KeyCorp dropped their price objective on indie Semiconductor from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Finally, UBS Group started coverage on indie Semiconductor in a report on Friday, January 24th. They issued a “neutral” rating and a $4.50 price objective for the company. One research analyst has rated the stock with a hold rating and five 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 a consensus target price of $7.50.

Insider Activity

In other indie Semiconductor news, CEO Donald Mcclymont sold 65,754 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 $190,686.60. Following the completion of the transaction, the chief executive officer now owns 246,535 shares in the company, valued at approximately $714,951.50. The trade was a 21.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Michael Wittmann sold 18,375 shares of indie Semiconductor stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $4.10, for a total value of $75,337.50. Following the transaction, the chief operating officer now owns 28,860 shares of the company’s stock, valued at $118,326. The trade was a 38.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 169,789 shares of company stock worth $532,037 in the last quarter. 8.20% of the stock is owned by company insiders.

indie Semiconductor Trading Down 8.8 %

INDI opened at $2.27 on Wednesday. The stock has a market cap of $458.35 million, a PE ratio of -2.99 and a beta of 1.54. 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 business has a 50 day moving average of $3.66 and a 200-day moving average of $3.92. indie Semiconductor, Inc. has a 52 week low of $2.27 and a 52 week high of $7.82.

indie Semiconductor (NASDAQ:INDI) last released its earnings results on Thursday, February 20th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). The firm had revenue of $58.01 million during the quarter, compared to analysts’ expectations of $58.20 million. indie Semiconductor had a negative net margin of 61.59% and a negative return on equity of 28.08%. Equities research analysts predict that indie Semiconductor, Inc. will post -0.54 earnings per share for the current fiscal 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.