Charles Schwab Investment Management Inc. Boosts Position in indie Semiconductor, Inc. (NASDAQ:INDI)

Charles Schwab Investment Management Inc. increased its stake in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 8.6% in the 4th quarter, HoldingsChannel reports. The firm owned 1,431,093 shares of the company’s stock after buying an additional 112,793 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in indie Semiconductor were worth $5,796,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in INDI. Geode Capital Management LLC lifted its holdings in indie Semiconductor by 7.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,944,067 shares of the company’s stock valued at $15,739,000 after purchasing an additional 276,739 shares in the last quarter. State Street Corp lifted its stake in shares of indie Semiconductor by 2.3% during the 3rd quarter. State Street Corp now owns 7,102,029 shares of the company’s stock worth $28,337,000 after purchasing an additional 161,132 shares during the period. Barclays PLC boosted its holdings in shares of indie Semiconductor by 330.7% during the third 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 last quarter. Elemental Capital Partners LLC purchased a new stake in shares of indie Semiconductor in the fourth quarter valued at $14,272,000. Finally, 272 Capital LP purchased a new stake in shares of indie Semiconductor in the third quarter valued at $511,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at indie Semiconductor

In other indie Semiconductor news, 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 value of $30,558.75. Following the sale, the chief operating officer now directly owns 77,887 shares of the company’s stock, valued at $218,862.47. This trade represents a 12.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Donald Mcclymont sold 65,754 shares of the firm’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 completion of the sale, the chief executive officer now owns 246,535 shares in the company, valued at $714,951.50. The trade was a 21.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 151,414 shares of company stock worth $456,699. 8.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

INDI has been the topic of several recent analyst reports. UBS Group assumed coverage on indie Semiconductor in a research report on Friday, January 24th. They set a “neutral” rating and a $4.50 target price on the stock. KeyCorp dropped their price objective on indie Semiconductor from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Finally, Benchmark reduced their target price on indie Semiconductor from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, indie Semiconductor currently has an average rating of “Moderate Buy” and an average price target of $7.50.

indie Semiconductor Stock Performance

NASDAQ:INDI opened at $2.35 on Tuesday. The firm has a 50-day moving average of $3.51 and a two-hundred day moving average of $3.87. 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 stock has a market cap of $474.50 million, a P/E ratio of -3.09 and a beta of 1.54. indie Semiconductor, Inc. has a 1-year low of $2.12 and a 1-year high of $7.82.

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

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.