Charles Schwab Investment Management Inc. Increases Stock Position in indie Semiconductor, Inc. (NASDAQ:INDI)

Charles Schwab Investment Management Inc. increased its holdings in indie Semiconductor, Inc. (NASDAQ:INDI) by 10.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,318,300 shares of the company’s stock after buying an additional 120,071 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.67% of indie Semiconductor worth $5,260,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Primecap Management Co. CA increased its position in indie Semiconductor by 61.4% in the third quarter. Primecap Management Co. CA now owns 25,468,445 shares of the company’s stock worth $101,619,000 after purchasing an additional 9,689,326 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of indie Semiconductor by 290.6% during the third quarter. Harbor Capital Advisors Inc. now owns 3,195,910 shares of the company’s stock valued at $12,752,000 after purchasing an additional 2,377,612 shares during the period. General American Investors Co. Inc. lifted its stake 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 worth $5,376,000 after acquiring an additional 427,928 shares during the period. Dimensional Fund Advisors LP lifted its stake in indie Semiconductor by 61.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,127,024 shares of the company’s stock worth $6,954,000 after acquiring an additional 427,372 shares during the period. Finally, Artemis Investment Management LLP purchased a new stake in indie Semiconductor in the third quarter worth about $4,478,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

indie Semiconductor Stock Down 1.3 %

Shares of INDI opened at $4.45 on Friday. indie Semiconductor, Inc. has a 52-week low of $3.16 and a 52-week high of $8.69. The company has a market capitalization of $898.53 million, a PE ratio of -6.64 and a beta of 1.36. The stock has a fifty day simple moving average of $4.11 and a two-hundred day simple moving average of $4.93. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32.

Analysts Set New Price Targets

Several analysts have commented on the stock. Benchmark decreased their price target on shares of indie Semiconductor from $12.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Roth Mkm cut their price target on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $8.92.

Insider Activity at indie Semiconductor

In other news, CEO Donald Mcclymont sold 200,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $4.71, for a total transaction of $942,000.00. Following the completion of the transaction, the chief executive officer now directly owns 18,351 shares of the company’s stock, 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 filing with the SEC, which can be accessed through the SEC website. 8.20% of the stock is owned by insiders.

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.