Portolan Capital Management LLC Has $5.36 Million Stake in indie Semiconductor, Inc. (NASDAQ:INDI)

Portolan Capital Management LLC cut its position in indie Semiconductor, Inc. (NASDAQ:INDI) by 34.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,344,430 shares of the company’s stock after selling 696,521 shares during the quarter. Portolan Capital Management LLC owned 0.68% of indie Semiconductor worth $5,364,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Primecap Management Co. CA raised its position in indie Semiconductor by 61.4% during the third quarter. Primecap Management Co. CA now owns 25,468,445 shares of the company’s stock valued at $101,619,000 after purchasing an additional 9,689,326 shares in the last quarter. Bamco Inc. NY raised its holdings in shares of 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 buying an additional 89,181 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of indie Semiconductor by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 10,599,890 shares of the company’s stock worth $75,047,000 after buying an additional 332,500 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in indie Semiconductor by 290.6% in the third quarter. Harbor Capital Advisors Inc. now owns 3,195,910 shares of the company’s stock valued at $12,752,000 after buying an additional 2,377,612 shares in the last quarter. Finally, General American Investors Co. Inc. grew its position in indie Semiconductor by 46.5% in the third quarter. General American Investors Co. Inc. now owns 1,347,393 shares of the company’s stock valued at $5,376,000 after acquiring an additional 427,928 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling at indie Semiconductor

In other indie Semiconductor news, CEO Donald Mcclymont sold 200,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $4.71, for a total transaction of $942,000.00. Following the sale, the chief executive officer now owns 18,351 shares of the company’s stock, valued at approximately $86,433.21. This represents a 91.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 8.20% of the company’s stock.

indie Semiconductor Trading Down 23.7 %

Shares of INDI stock opened at $4.03 on Wednesday. The stock has a 50-day moving average of $4.06 and a 200-day moving average of $5.03. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.87. indie Semiconductor, Inc. has a 1-year low of $3.16 and a 1-year high of $8.69.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Roth Mkm lowered their price objective on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Benchmark dropped their price target on indie Semiconductor from $12.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on indie Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $8.92.

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.