indie Semiconductor, Inc. (NASDAQ:INDI) Position Trimmed by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. decreased its position in indie Semiconductor, Inc. (NASDAQ:INDIFree Report) by 19.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 41,294 shares of the company’s stock after selling 10,000 shares during the period. Salem Investment Counselors Inc.’s holdings in indie Semiconductor were worth $167,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. boosted its stake 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 during the period. 272 Capital LP acquired a new position in indie Semiconductor in the 3rd quarter worth approximately $511,000. American Trust boosted its stake in indie Semiconductor by 28.2% in the 3rd quarter. American Trust now owns 28,976 shares of the company’s stock worth $116,000 after purchasing an additional 6,375 shares during the period. Virtu Financial LLC acquired a new position in indie Semiconductor in the 3rd quarter worth approximately $58,000. Finally, Barclays PLC boosted its stake in indie Semiconductor by 330.7% in the 3rd quarter. Barclays PLC now owns 256,799 shares of the company’s stock worth $1,026,000 after purchasing an additional 197,179 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity

In related news, COO Michael Wittmann sold 18,375 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $4.10, for a total value of $75,337.50. Following the transaction, the chief operating officer now directly owns 28,860 shares in the company, valued at approximately $118,326. This trade represents a 38.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Donald Mcclymont sold 200,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were 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 owns 18,351 shares in the company, valued at $86,433.21. The trade was a 91.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 276,593 shares of company stock worth $1,272,291. 8.20% of the stock is owned by corporate insiders.

indie Semiconductor Stock Down 2.3 %

indie Semiconductor stock opened at $3.90 on Wednesday. The company has a market capitalization of $787.47 million, a P/E ratio of -5.82 and a beta of 1.41. The firm’s fifty day simple moving average is $4.42 and its 200-day simple moving average is $4.48. The company has a current ratio of 2.39, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. indie Semiconductor, Inc. has a 1-year low of $3.16 and a 1-year high of $7.82.

Wall Street Analysts Forecast Growth

INDI has been the subject of a number of recent analyst reports. 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 note on Tuesday, November 5th. Roth Mkm cut their target price on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, indie Semiconductor presently has a consensus rating of “Buy” and a consensus price target of $8.92.

Get Our Latest Research Report on INDI

About indie Semiconductor

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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.

Further Reading

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Institutional Ownership by Quarter for indie Semiconductor (NASDAQ:INDI)

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