Clearbridge Investments LLC Has $13.08 Million Stake in indie Semiconductor, Inc. (NASDAQ:INDI)

Clearbridge Investments LLC grew its position in indie Semiconductor, Inc. (NASDAQ:INDI) by 34.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,612,671 shares of the company’s stock after purchasing an additional 408,936 shares during the period. Clearbridge Investments LLC owned approximately 0.89% of indie Semiconductor worth $13,079,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of INDI. Bamco Inc. NY raised its holdings in shares of indie Semiconductor by 88.9% in the third quarter. Bamco Inc. NY now owns 11,038,885 shares of the company’s stock valued at $69,545,000 after purchasing an additional 5,193,775 shares during the last quarter. Vanguard Group Inc. raised its holdings in indie Semiconductor by 9.2% during the third quarter. Vanguard Group Inc. now owns 9,028,012 shares of the company’s stock worth $56,876,000 after acquiring an additional 763,140 shares in the last quarter. Primecap Management Co. CA boosted its position in indie Semiconductor by 39.0% during the third quarter. Primecap Management Co. CA now owns 4,193,300 shares of the company’s stock valued at $26,418,000 after purchasing an additional 1,175,600 shares during the last quarter. AIGH Capital Management LLC grew its stake in indie Semiconductor by 5.0% in the third quarter. AIGH Capital Management LLC now owns 2,100,000 shares of the company’s stock valued at $13,230,000 after purchasing an additional 100,000 shares in the last quarter. Finally, UBS Group AG increased its position in shares of indie Semiconductor by 4,346.7% during the 4th quarter. UBS Group AG now owns 1,484,697 shares of the company’s stock worth $12,041,000 after purchasing an additional 1,451,308 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

indie Semiconductor Price Performance

Shares of INDI traded up $0.24 during trading hours on Friday, reaching $6.44. The stock had a trading volume of 1,786,154 shares, compared to its average volume of 2,570,321. indie Semiconductor, Inc. has a 12 month low of $4.67 and a 12 month high of $10.85. The company’s 50-day moving average is $6.16 and its two-hundred day moving average is $6.75. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.49 and a current ratio of 1.74. The stock has a market capitalization of $1.20 billion, a PE ratio of -13.14 and a beta of 1.21.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.04. indie Semiconductor had a negative return on equity of 21.08% and a negative net margin of 32.12%. The firm had revenue of $70.13 million for the quarter, compared to analyst estimates of $72.69 million. Research analysts expect that indie Semiconductor, Inc. will post -0.42 EPS for the current year.

Insider Activity

In other indie Semiconductor news, CFO Thomas Schiller sold 60,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $5.68, for a total value of $340,800.00. Following the transaction, the chief financial officer now owns 1,039,583 shares in the company, valued at $5,904,831.44. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other indie Semiconductor news, COO Michael Wittmann sold 8,700 shares of indie Semiconductor stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $6.95, for a total transaction of $60,465.00. Following the sale, the chief operating officer now directly owns 35,460 shares of the company’s stock, valued at approximately $246,447. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Thomas Schiller sold 60,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $5.68, for a total transaction of $340,800.00. Following the sale, the chief financial officer now owns 1,039,583 shares in the company, valued at approximately $5,904,831.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 173,673 shares of company stock valued at $1,082,541. 9.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on INDI. KeyCorp dropped their price target on shares of indie Semiconductor from $10.00 to $9.00 and set an “overweight” rating on the stock in a research report on Friday, May 10th. Craig Hallum cut their target price 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. Deutsche Bank Aktiengesellschaft reduced their price target on indie Semiconductor from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Finally, B. Riley restated a “buy” rating and issued a $13.50 price target (down from $14.50) on shares of indie Semiconductor in a research note on Friday, May 10th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, indie Semiconductor presently has an average rating of “Buy” and a consensus price target of $12.64.

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.