Redwood Wealth Management Group LLC Buys New Position in indie Semiconductor, Inc. (NASDAQ:INDI)

Redwood Wealth Management Group LLC bought a new stake in shares of indie Semiconductor, Inc. (NASDAQ:INDI) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 53,250 shares of the company’s stock, valued at approximately $215,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Register Financial Advisors LLC boosted its holdings in indie Semiconductor by 60.4% during the 4th quarter. Register Financial Advisors LLC now owns 337,028 shares of the company’s stock valued at $1,365,000 after acquiring an additional 126,888 shares during the period. Artemis Investment Management LLP raised its position in indie Semiconductor by 482.7% in the 4th quarter. Artemis Investment Management LLP now owns 6,539,694 shares of the company’s stock valued at $26,486,000 after purchasing an additional 5,417,296 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in indie Semiconductor in the 4th quarter valued at about $74,000. Moody National Bank Trust Division raised its position in indie Semiconductor by 2.3% in the 4th quarter. Moody National Bank Trust Division now owns 650,810 shares of the company’s stock valued at $2,636,000 after purchasing an additional 14,500 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in indie Semiconductor by 4.3% in the 4th quarter. Harbor Capital Advisors Inc. now owns 3,333,220 shares of the company’s stock valued at $13,500,000 after purchasing an additional 137,310 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other indie Semiconductor news, COO Michael Wittmann sold 18,375 shares of indie Semiconductor stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $4.10, for a total transaction of $75,337.50. Following the transaction, the chief operating officer now owns 28,860 shares of the company’s stock, valued at $118,326. The trade was a 38.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Donald Mcclymont sold 50,000 shares of indie Semiconductor stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $4.31, for a total value of $215,500.00. Following the transaction, the chief executive officer now directly owns 18,351 shares in the company, valued at approximately $79,092.81. This trade represents a 73.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 276,593 shares of company stock valued at $1,272,291 over the last quarter. Company insiders own 8.20% of the company’s stock.

Analyst Ratings Changes

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

indie Semiconductor Stock Performance

Shares of NASDAQ INDI opened at $4.19 on Wednesday. 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 fifty-two week low of $3.16 and a fifty-two week high of $7.82. The stock’s 50-day simple moving average is $4.31 and its 200-day simple moving average is $4.24.

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

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.