Geode Capital Management LLC Buys 276,739 Shares of indie Semiconductor, Inc. (NASDAQ:INDI)

Geode Capital Management LLC raised its position in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 7.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,944,067 shares of the company’s stock after acquiring an additional 276,739 shares during the quarter. Geode Capital Management LLC owned approximately 2.00% of indie Semiconductor worth $15,739,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. General American Investors Co. Inc. lifted its holdings in shares of indie Semiconductor by 46.5% during 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 purchasing an additional 427,928 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in 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 valued at $5,260,000 after purchasing an additional 120,071 shares during the last quarter. State Street Corp increased its position in shares of indie Semiconductor by 2.3% during the third quarter. State Street Corp now owns 7,102,029 shares of the company’s stock valued at $28,337,000 after acquiring an additional 161,132 shares in the last quarter. Artemis Investment Management LLP purchased a new position in indie Semiconductor in the 3rd quarter worth approximately $4,478,000. Finally, Harbor Capital Advisors Inc. lifted its position in indie Semiconductor by 290.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,195,910 shares of the company’s stock valued at $12,752,000 after acquiring an additional 2,377,612 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on INDI. 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. Roth Mkm decreased their price objective on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a report on Friday, November 8th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, indie Semiconductor currently has an average rating of “Buy” and a consensus target price of $8.92.

indie Semiconductor Stock Down 1.8 %

INDI stock opened at $4.34 on Monday. The company has a market cap of $876.32 million, a price-to-earnings ratio of -6.48 and a beta of 1.37. 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 business’s 50-day moving average is $4.24 and its two-hundred day moving average is $4.69. indie Semiconductor, Inc. has a fifty-two week low of $3.16 and a fifty-two week high of $8.55.

Insider Activity

In other news, COO Michael Wittmann sold 18,375 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was 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 directly owns 28,860 shares in the company, valued at $118,326. This represents a 38.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Donald Mcclymont sold 200,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $4.71, for a total value of $942,000.00. Following the completion of the transaction, the chief executive officer now directly owns 18,351 shares in the company, valued at approximately $86,433.21. This represents a 91.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 271,456 shares of company stock valued at $1,249,783 in the last quarter. 8.20% of the stock is currently owned by 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.