indie Semiconductor, Inc. (NASDAQ:INDI) Shares Sold by Wealth Effects LLC

Wealth Effects LLC lowered its holdings in indie Semiconductor, Inc. (NASDAQ:INDI) by 67.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,800 shares of the company’s stock after selling 71,900 shares during the quarter. Wealth Effects LLC’s holdings in indie Semiconductor were worth $141,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in INDI. Register Financial Advisors LLC grew its position in indie Semiconductor by 60.4% during the 4th quarter. Register Financial Advisors LLC now owns 337,028 shares of the company’s stock worth $1,365,000 after purchasing an additional 126,888 shares during the period. Artemis Investment Management LLP grew its holdings in indie Semiconductor by 482.7% during the fourth quarter. Artemis Investment Management LLP now owns 6,539,694 shares of the company’s stock worth $26,486,000 after acquiring an additional 5,417,296 shares during the period. FNY Investment Advisers LLC purchased a new position in indie Semiconductor during the fourth quarter valued at approximately $74,000. Moody National Bank Trust Division lifted its holdings in indie Semiconductor by 2.3% in the fourth quarter. Moody National Bank Trust Division now owns 650,810 shares of the company’s stock valued at $2,636,000 after acquiring an additional 14,500 shares during the period. Finally, Harbor Capital Advisors Inc. boosted 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 worth $13,500,000 after purchasing an additional 137,310 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insiders Place Their Bets

In related 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 in the company, valued at approximately $118,326. This trade represents a 38.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Donald Mcclymont sold 200,000 shares of the business’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 transaction, the chief executive officer now directly owns 18,351 shares in the company, valued at $86,433.21. This trade represents a 91.60 % 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 in the last 90 days. 8.20% of the stock is owned by insiders.

indie Semiconductor Stock Performance

INDI opened at $4.19 on Wednesday. indie Semiconductor, Inc. has a twelve month low of $3.16 and a twelve month high of $7.82. The company has a 50-day moving average price of $4.39 and a 200 day moving average price of $4.34. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.39.

indie Semiconductor (NASDAQ:INDI) last released 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 net margin of 49.88% and a negative return on equity of 24.04%. The firm had revenue of $53.97 million during the quarter, compared to analysts’ expectations of $53.65 million. During the same quarter last year, the business earned ($0.17) EPS. Equities research analysts predict that indie Semiconductor, Inc. will post -0.74 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. UBS Group assumed coverage on shares of indie Semiconductor in a research note on Friday, January 24th. They issued a “neutral” rating and a $4.50 target price for the company. Benchmark decreased their price objective 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. Finally, Roth Mkm dropped their target price 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 given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $8.29.

indie Semiconductor Company 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.