Legato Capital Management LLC Increases Stock Position in indie Semiconductor, Inc. (NASDAQ:INDI)

Legato Capital Management LLC increased its position in indie Semiconductor, Inc. (NASDAQ:INDI) by 47.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,285 shares of the company’s stock after acquiring an additional 6,570 shares during the period. Legato Capital Management LLC’s holdings in indie Semiconductor were worth $82,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in INDI. Virtu Financial LLC purchased a new stake in indie Semiconductor during the 3rd quarter valued at $58,000. FNY Investment Advisers LLC bought a new position in shares of indie Semiconductor during the 4th quarter valued at $74,000. Creative Planning bought a new position in shares of indie Semiconductor during the 3rd quarter valued at $75,000. American Trust lifted its holdings in shares of indie Semiconductor by 28.2% during the 3rd quarter. American Trust now owns 28,976 shares of the company’s stock valued at $116,000 after buying an additional 6,375 shares during the period. Finally, Intech Investment Management LLC bought a new position in shares of indie Semiconductor during the 3rd quarter valued at $143,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

indie Semiconductor Trading Down 0.8 %

Shares of INDI stock opened at $3.86 on Friday. indie Semiconductor, Inc. has a 52-week low of $3.16 and a 52-week high of $7.82. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.39. The firm has a market capitalization of $779.41 million, a PE ratio of -5.76 and a beta of 1.41. The stock has a fifty day simple moving average of $4.22 and a two-hundred day simple moving average of $4.14.

Insiders Place Their Bets

In other indie Semiconductor news, CEO Donald Mcclymont sold 50,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $4.31, for a total transaction of $215,500.00. Following the completion of the transaction, the chief executive officer now owns 18,351 shares of the company’s stock, valued at $79,092.81. This represents a 73.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael Wittmann sold 18,375 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $4.10, for a total transaction of $75,337.50. Following the transaction, the chief operating officer now directly owns 28,860 shares of the company’s stock, valued at $118,326. This trade represents a 38.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,593 shares of company stock worth $330,291. Corporate insiders own 8.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Benchmark lowered their price target on indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. UBS Group started coverage on indie Semiconductor in a research note on Friday, January 24th. They issued a “neutral” rating and a $4.50 price objective for the company. Finally, Roth Mkm reduced their price objective on indie Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $8.29.

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.