Elemental Capital Partners LLC Invests $14.27 Million in indie Semiconductor, Inc. (NASDAQ:INDI)

Elemental Capital Partners LLC purchased a new position in shares of indie Semiconductor, Inc. (NASDAQ:INDI) during the fourth quarter, Holdings Channel.com reports. The fund purchased 3,523,992 shares of the company’s stock, valued at approximately $14,272,000. indie Semiconductor comprises about 13.4% of Elemental Capital Partners LLC’s portfolio, making the stock its 3rd largest position.

A number of other large investors have also modified their holdings of the business. General American Investors Co. Inc. lifted its holdings 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 period. Charles Schwab Investment Management Inc. raised its stake in shares of indie Semiconductor by 10.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,318,300 shares of the company’s stock worth $5,260,000 after buying an additional 120,071 shares during the period. Geode Capital Management LLC raised its stake in shares of 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 buying an additional 276,739 shares during the period. State Street Corp raised its stake in shares of 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 buying an additional 161,132 shares during the period. Finally, Barclays PLC raised its stake in shares of indie Semiconductor by 330.7% during the 3rd quarter. Barclays PLC now owns 256,799 shares of the company’s stock worth $1,026,000 after buying an additional 197,179 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on INDI. Benchmark reduced their target price 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. UBS Group assumed coverage on indie Semiconductor in a research report on Friday, January 24th. They set a “neutral” rating and a $4.50 price target for the company. Finally, Roth Mkm dropped their price target on indie Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $8.29.

indie Semiconductor Stock Up 3.1 %

NASDAQ INDI opened at $4.32 on Thursday. The company has a current ratio of 2.39, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. indie Semiconductor, Inc. has a twelve month low of $3.16 and a twelve month high of $7.82. The stock has a fifty day simple moving average of $4.29 and a 200-day simple moving average of $4.24.

indie Semiconductor (NASDAQ:INDI) last posted its earnings results on Thursday, November 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.12). The firm had revenue of $53.97 million for the quarter, compared to analyst estimates of $53.65 million. indie Semiconductor had a negative return on equity of 24.04% and a negative net margin of 49.88%. During the same period in the previous year, the company posted ($0.17) EPS. On average, sell-side analysts expect that indie Semiconductor, Inc. will post -0.74 earnings per share for the current year.

Insider Buying and Selling at indie Semiconductor

In other indie Semiconductor news, CEO Donald Mcclymont sold 50,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $4.31, for a total transaction of $215,500.00. Following the sale, the chief executive officer now directly owns 18,351 shares in the company, valued at approximately $79,092.81. The trade was a 73.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Michael Wittmann sold 18,375 shares of the company’s 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 completion of the sale, the chief operating officer now owns 28,860 shares in the company, valued at $118,326. This represents a 38.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 276,593 shares of company stock valued at $1,272,291 in the last quarter. Corporate 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.