American Trust Boosts Stock Position in indie Semiconductor, Inc. (NASDAQ:INDI)

American Trust raised its stake in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 28.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,976 shares of the company’s stock after buying an additional 6,375 shares during the quarter. American Trust’s holdings in indie Semiconductor were worth $116,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in INDI. Wealth Effects LLC raised its position in shares of indie Semiconductor by 2.8% in the 2nd quarter. Wealth Effects LLC now owns 170,700 shares of the company’s stock worth $1,053,000 after purchasing an additional 4,600 shares during the last quarter. Tempus Wealth Planning LLC raised its holdings in indie Semiconductor by 30.6% in the second quarter. Tempus Wealth Planning LLC now owns 22,353 shares of the company’s stock worth $138,000 after buying an additional 5,238 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of indie Semiconductor by 16.1% in the second quarter. Arizona State Retirement System now owns 43,756 shares of the company’s stock worth $270,000 after buying an additional 6,075 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of indie Semiconductor by 11.8% in the second quarter. The Manufacturers Life Insurance Company now owns 62,769 shares of the company’s stock worth $387,000 after buying an additional 6,608 shares in the last quarter. Finally, Truvestments Capital LLC increased its position in shares of indie Semiconductor by 15.6% during the third quarter. Truvestments Capital LLC now owns 56,456 shares of the company’s stock valued at $225,000 after acquiring an additional 7,601 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

indie Semiconductor Trading Down 0.4 %

NASDAQ:INDI opened at $4.43 on Friday. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. The company has a 50 day simple moving average of $4.12 and a two-hundred day simple moving average of $4.90. indie Semiconductor, Inc. has a 12 month low of $3.16 and a 12 month high of $8.69.

Insider Buying and Selling

In other news, CEO Donald Mcclymont sold 200,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $4.71, for a total value of $942,000.00. Following the completion of the sale, the chief executive officer now owns 18,351 shares in the company, valued at approximately $86,433.21. This trade represents a 91.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

INDI has been the topic of several analyst reports. Roth Mkm lowered their price objective 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. 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. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $8.92.

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.