Virtu Financial LLC Grows Holdings in indie Semiconductor, Inc. (NASDAQ:INDI)

Virtu Financial LLC raised its position in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 314.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 60,733 shares of the company’s stock after purchasing an additional 46,096 shares during the quarter. Virtu Financial LLC’s holdings in indie Semiconductor were worth $246,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Boston Partners bought a new position in indie Semiconductor in the 4th quarter worth $2,279,000. Intech Investment Management LLC grew its position in shares of indie Semiconductor by 124.2% during the fourth quarter. Intech Investment Management LLC now owns 80,149 shares of the company’s stock worth $325,000 after purchasing an additional 44,397 shares in the last quarter. Primecap Management Co. CA raised its stake in indie Semiconductor by 3.2% during the 4th quarter. Primecap Management Co. CA now owns 26,287,766 shares of the company’s stock valued at $106,465,000 after purchasing an additional 819,321 shares during the period. Cibc World Markets Corp bought a new stake in indie Semiconductor during the 4th quarter valued at approximately $62,000. Finally, Royce & Associates LP purchased a new position in indie Semiconductor in the 4th quarter worth approximately $2,491,000. 67.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. KeyCorp cut their price objective on shares of indie Semiconductor from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Friday, February 21st. UBS Group started coverage on shares of indie Semiconductor in a report on Friday, January 24th. They issued a “neutral” rating and a $4.50 price target on the stock. Finally, Benchmark dropped their price objective on shares of indie Semiconductor from $9.00 to $8.00 and set a “buy” rating for the company in a report on Friday, February 21st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.50.

indie Semiconductor Price Performance

indie Semiconductor stock opened at $2.11 on Friday. indie Semiconductor, Inc. has a 52-week low of $2.03 and a 52-week high of $7.82. The company has a market cap of $426.04 million, a price-to-earnings ratio of -2.78 and a beta of 1.54. The firm’s fifty day moving average is $3.35 and its 200 day moving average is $3.83. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). indie Semiconductor had a negative net margin of 61.59% and a negative return on equity of 28.08%. The business had revenue of $58.01 million during the quarter, compared to the consensus estimate of $58.20 million. Sell-side analysts forecast that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.

Insider Transactions at indie Semiconductor

In other indie Semiconductor news, CEO Donald Mcclymont sold 65,754 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $2.90, for a total transaction of $190,686.60. Following the completion of the transaction, the chief executive officer now owns 246,535 shares in the company, valued at $714,951.50. The trade was a 21.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Michael Wittmann sold 10,875 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $2.81, for a total value of $30,558.75. Following the transaction, the chief operating officer now directly owns 77,887 shares in the company, valued at approximately $218,862.47. This represents a 12.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 151,414 shares of company stock worth $456,699. 8.20% of the stock is currently owned by company insiders.

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.