Arizona State Retirement System Buys 5,960 Shares of indie Semiconductor, Inc. (NASDAQ:INDI)

Arizona State Retirement System lifted its stake in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 13.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,961 shares of the company’s stock after purchasing an additional 5,960 shares during the quarter. Arizona State Retirement System’s holdings in indie Semiconductor were worth $210,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in shares of indie Semiconductor during the 3rd quarter valued at approximately $58,000. FNY Investment Advisers LLC bought a new stake in shares of indie Semiconductor during the 4th quarter valued at approximately $74,000. Legato Capital Management LLC grew its holdings in shares of indie Semiconductor by 47.9% during the 4th quarter. Legato Capital Management LLC now owns 20,285 shares of the company’s stock valued at $82,000 after purchasing an additional 6,570 shares during the last quarter. M&T Bank Corp grew its holdings in shares of indie Semiconductor by 41.5% during the 4th quarter. M&T Bank Corp now owns 28,348 shares of the company’s stock valued at $115,000 after purchasing an additional 8,308 shares during the last quarter. Finally, American Trust grew its holdings in shares of indie Semiconductor by 28.2% during the 3rd quarter. American Trust now owns 28,976 shares of the company’s stock valued at $116,000 after purchasing an additional 6,375 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. KeyCorp decreased their price target on shares of indie Semiconductor from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Benchmark reduced their target price on shares of indie Semiconductor from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Finally, UBS Group assumed coverage on shares of indie Semiconductor in a report on Friday, January 24th. They set a “neutral” rating and a $4.50 target price on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $7.50.

Insider Activity

In other news, CEO Donald Mcclymont sold 65,754 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $2.90, for a total value of $190,686.60. Following the sale, the chief executive officer now directly owns 246,535 shares of the company’s stock, valued at approximately $714,951.50. This represents a 21.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Michael Wittmann sold 10,875 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $2.81, for a total transaction of $30,558.75. Following the transaction, the chief operating officer now directly owns 77,887 shares in the company, valued at approximately $218,862.47. This represents a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 219,789 shares of company stock valued at $747,537. 8.20% of the stock is currently owned by insiders.

indie Semiconductor Trading Down 2.1 %

INDI opened at $2.34 on Friday. The firm has a market capitalization of $472.48 million, a price-to-earnings ratio of -3.08 and a beta of 1.54. indie Semiconductor, Inc. has a fifty-two week low of $2.29 and a fifty-two week high of $7.82. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.87. The company’s 50 day moving average price is $3.75 and its two-hundred day moving average price is $3.94.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). indie Semiconductor had a negative net margin of 61.59% and a negative return on equity of 28.08%. The firm had revenue of $58.01 million during the quarter, compared to the consensus estimate of $58.20 million. As a group, research analysts predict that indie Semiconductor, Inc. will post -0.54 earnings per share for the current year.

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.