Geode Capital Management LLC Increases Position in indie Semiconductor, Inc. (NASDAQ:INDI)

Geode Capital Management LLC lifted its position in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 7.5% during the third quarter, Holdings Channel reports. The institutional investor owned 3,944,067 shares of the company’s stock after purchasing an additional 276,739 shares during the period. Geode Capital Management LLC’s holdings in indie Semiconductor were worth $15,739,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Wealth Effects LLC raised its stake in indie Semiconductor by 2.8% during the 2nd quarter. Wealth Effects LLC now owns 170,700 shares of the company’s stock valued at $1,053,000 after purchasing an additional 4,600 shares during the period. Arizona State Retirement System grew its holdings in indie Semiconductor by 16.1% during the 2nd quarter. Arizona State Retirement System now owns 43,756 shares of the company’s stock valued at $270,000 after buying an additional 6,075 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of indie Semiconductor by 11.8% during the second quarter. The Manufacturers Life Insurance Company now owns 62,769 shares of the company’s stock valued at $387,000 after buying an additional 6,608 shares during the last quarter. Truvestments Capital LLC raised 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 buying an additional 7,601 shares during the last quarter. Finally, Xponance Inc. purchased a new position in shares of indie Semiconductor in the second quarter worth $63,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Transactions at indie Semiconductor

In other news, COO Michael Wittmann sold 18,375 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $118,326. This trade represents a 38.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Donald Mcclymont sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were 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 approximately $86,433.21. This represents a 91.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 271,456 shares of company stock worth $1,249,783 in the last three months. Insiders own 8.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Benchmark cut their target price on shares of indie Semiconductor from $12.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Roth Mkm dropped 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 research analysts have rated the stock with a buy rating, Based on data from MarketBeat, indie Semiconductor has an average rating of “Buy” and a consensus price target of $8.92.

indie Semiconductor Price Performance

indie Semiconductor stock opened at $4.34 on Monday. indie Semiconductor, Inc. has a 52-week low of $3.16 and a 52-week high of $8.55. 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 firm’s fifty day moving average is $4.24 and its 200 day moving average is $4.69. The company has a market cap of $876.32 million, a price-to-earnings ratio of -6.48 and a beta of 1.37.

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.