indie Semiconductor, Inc. (NASDAQ:INDI) Holdings Raised by Primecap Management Co. CA

Primecap Management Co. CA grew its stake in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 93.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,779,119 shares of the company’s stock after purchasing an additional 7,624,797 shares during the period. Primecap Management Co. CA owned about 8.45% of indie Semiconductor worth $97,357,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of INDI. Victory Capital Management Inc. lifted its holdings in shares of indie Semiconductor by 38.1% during the fourth quarter. Victory Capital Management Inc. now owns 18,589 shares of the company’s stock valued at $151,000 after purchasing an additional 5,131 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of indie Semiconductor by 8.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,061,581 shares of the company’s stock valued at $8,609,000 after purchasing an additional 79,753 shares during the last quarter. UBS Group AG lifted its holdings in shares of indie Semiconductor by 4,346.7% during the fourth quarter. UBS Group AG now owns 1,484,697 shares of the company’s stock valued at $12,041,000 after purchasing an additional 1,451,308 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of indie Semiconductor by 34.0% during the fourth quarter. Clearbridge Investments LLC now owns 1,612,671 shares of the company’s stock valued at $13,079,000 after purchasing an additional 408,936 shares during the last quarter. Finally, Journey Strategic Wealth LLC lifted its stake in indie Semiconductor by 90.0% in the 4th quarter. Journey Strategic Wealth LLC now owns 47,500 shares of the company’s stock worth $385,000 after acquiring an additional 22,500 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on INDI. Deutsche Bank Aktiengesellschaft reduced their price objective on indie Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Roth Mkm reduced their price objective on indie Semiconductor from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Benchmark reissued a “buy” rating and issued a $12.00 price objective on shares of indie Semiconductor in a research note on Tuesday, September 10th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, indie Semiconductor presently has a consensus rating of “Buy” and an average price target of $10.50.

indie Semiconductor Stock Down 0.3 %

INDI opened at $3.81 on Wednesday. indie Semiconductor, Inc. has a fifty-two week low of $3.16 and a fifty-two week high of $8.69. The business has a 50-day moving average of $4.86 and a 200-day moving average of $5.86. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.66 and a quick ratio of 2.20. The company has a market capitalization of $711.57 million, a PE ratio of -7.78 and a beta of 1.20.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.09) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.09). The company had revenue of $52.40 million during the quarter, compared to the consensus estimate of $53.61 million. indie Semiconductor had a negative return on equity of 22.48% and a negative net margin of 34.65%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the business earned ($0.11) EPS. Equities research analysts forecast that indie Semiconductor, Inc. will post -0.7 EPS for the current fiscal year.

Insider Activity

In other news, CFO Thomas Schiller sold 75,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $3.83, for a total transaction of $287,250.00. Following the transaction, the chief financial officer now owns 977,192 shares of the company’s stock, valued at approximately $3,742,645.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other indie Semiconductor news, CFO Thomas Schiller sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $3.83, for a total value of $287,250.00. Following the sale, the chief financial officer now owns 977,192 shares of the company’s stock, valued at approximately $3,742,645.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Ichiro Aoki sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $6.14, for a total value of $307,000.00. Following the completion of the sale, the president now directly owns 36,631 shares in the company, valued at approximately $224,914.34. The disclosure for this sale can be found here. In the last quarter, insiders have sold 206,882 shares of company stock valued at $1,096,570. Insiders own 8.20% of the company’s stock.

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.