Fred Alger Management LLC Reduces Position in indie Semiconductor, Inc. (NASDAQ:INDI)

Fred Alger Management LLC reduced its position in indie Semiconductor, Inc. (NASDAQ:INDI) by 99.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,286 shares of the company’s stock after selling 1,665,565 shares during the quarter. Fred Alger Management LLC’s holdings in indie Semiconductor were worth $49,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of indie Semiconductor by 3.2% during the first quarter. Vanguard Group Inc. now owns 10,599,890 shares of the company’s stock valued at $75,047,000 after buying an additional 332,500 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in indie Semiconductor by 14.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 43,108 shares of the company’s stock worth $306,000 after purchasing an additional 5,394 shares during the period. Comerica Bank lifted its position in shares of indie Semiconductor by 23,949.9% during the first quarter. Comerica Bank now owns 314,813 shares of the company’s stock worth $2,229,000 after purchasing an additional 313,504 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of indie Semiconductor by 1,743.8% during the second quarter. GAMMA Investing LLC now owns 4,130 shares of the company’s stock valued at $25,000 after purchasing an additional 3,906 shares during the period. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of indie Semiconductor by 295.6% in the second quarter. Harbor Capital Advisors Inc. now owns 818,298 shares of the company’s stock worth $5,049,000 after purchasing an additional 611,441 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling at indie Semiconductor

In other indie Semiconductor news, CEO Donald Mcclymont sold 200,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $4.71, for a total value of $942,000.00. Following the completion of the transaction, the chief executive officer now directly owns 18,351 shares in the company, valued at approximately $86,433.21. The trade was a 91.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Thomas Schiller sold 75,000 shares of indie Semiconductor stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $3.83, for a total transaction of $287,250.00. Following the completion of the transaction, the chief financial officer now directly owns 977,192 shares in the company, valued at approximately $3,742,645.36. The trade was a 7.13 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 281,612 shares of company stock valued at $1,259,860. 8.20% of the stock is currently owned by corporate insiders.

indie Semiconductor Stock Performance

Shares of INDI stock opened at $5.23 on Monday. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -7.81 and a beta of 1.22. indie Semiconductor, Inc. has a 52-week low of $3.16 and a 52-week high of $8.69. 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 company’s 50 day moving average is $4.03 and its 200 day moving average is $5.04.

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.