Ergoteles LLC Invests $116,000 in indie Semiconductor, Inc. (NASDAQ:INDI)

Ergoteles LLC purchased a new position in shares of indie Semiconductor, Inc. (NASDAQ:INDI – Get Rating) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 15,800 shares of the company’s stock, valued at approximately $116,000.

Several other large investors also recently made changes to their positions in the stock. State Street Corp boosted its stake in shares of indie Semiconductor by 43.8% during the 1st quarter. State Street Corp now owns 5,111,719 shares of the company’s stock worth $39,923,000 after acquiring an additional 1,556,028 shares in the last quarter. Soros Fund Management LLC boosted its stake in shares of indie Semiconductor by 24.5% during the 1st quarter. Soros Fund Management LLC now owns 4,355,753 shares of the company’s stock worth $34,018,000 after acquiring an additional 855,753 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of indie Semiconductor by 62.9% during the 1st quarter. Vanguard Group Inc. now owns 3,206,920 shares of the company’s stock worth $25,046,000 after acquiring an additional 1,238,514 shares in the last quarter. Primecap Management Co. CA boosted its stake in shares of indie Semiconductor by 52.1% during the 2nd quarter. Primecap Management Co. CA now owns 2,040,500 shares of the company’s stock worth $11,631,000 after acquiring an additional 699,281 shares in the last quarter. Finally, Light Street Capital Management LLC bought a new stake in indie Semiconductor during the 3rd quarter valued at approximately $12,130,000. Institutional investors own 45.44% of the company’s stock.

Insider Activity at indie Semiconductor

In related news, CEO Donald Mcclymont sold 50,000 shares of the stock in a transaction that occurred on Tuesday, January 10th. The shares were sold at an average price of $6.53, for a total value of $326,500.00. Following the sale, the chief executive officer now directly owns 4,298 shares in the company, valued at approximately $28,065.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Thomas Schiller sold 58,900 shares of the stock in a transaction that occurred on Friday, February 17th. The stock was sold at an average price of $9.80, for a total transaction of $577,220.00. Following the completion of the sale, the chief financial officer now directly owns 1,334,303 shares of the company’s stock, valued at approximately $13,076,169.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Donald Mcclymont sold 50,000 shares of the stock in a transaction that occurred on Tuesday, January 10th. The stock was sold at an average price of $6.53, for a total value of $326,500.00. Following the sale, the chief executive officer now directly owns 4,298 shares of the company’s stock, valued at $28,065.94. The disclosure for this sale can be found here. Insiders have sold 379,507 shares of company stock worth $3,551,951 in the last ninety days. Company insiders own 14.30% of the company’s stock.

indie Semiconductor Stock Up 0.9 %

NASDAQ:INDI opened at $10.67 on Thursday. The stock’s fifty day simple moving average is $8.24 and its 200-day simple moving average is $7.84. The firm has a market capitalization of $1.56 billion, a P/E ratio of -24.81 and a beta of 0.86. The company has a quick ratio of 3.30, a current ratio of 3.51 and a debt-to-equity ratio of 0.02. indie Semiconductor, Inc. has a 12-month low of $5.07 and a 12-month high of $11.12.

indie Semiconductor (NASDAQ:INDI – Get Rating) last posted its earnings results on Thursday, February 16th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The company had revenue of $33.00 million for the quarter, compared to analyst estimates of $32.92 million. indie Semiconductor had a negative return on equity of 19.59% and a negative net margin of 44.45%. indie Semiconductor’s quarterly revenue was up 74.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. Equities research analysts expect that indie Semiconductor, Inc. will post -0.16 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on INDI. B. Riley increased their target price on indie Semiconductor from $13.00 to $14.00 in a research note on Friday, February 17th. KeyCorp increased their target price on indie Semiconductor from $10.00 to $12.00 and gave the company an “overweight” rating in a research note on Friday, February 17th. Deutsche Bank Aktiengesellschaft raised their price objective on indie Semiconductor from $10.00 to $15.00 in a research report on Friday, February 17th. TheStreet raised indie Semiconductor from a “d” rating to a “c-” rating in a report on Thursday, February 16th. Finally, Craig Hallum lowered their target price on indie Semiconductor to $14.00 in a research note on Wednesday, November 16th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $14.40.

indie Semiconductor Company Profile

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indie Semiconductor, Inc provides automotive semiconductors and software solutions for advanced driver assistance systems, connected car, user experience, and electrification applications. It offers devices for a multitude of automotive applications spanning ultrasound for parking assistance, in cabin wireless charging, infotainment and LED lighting for enhancing the user experience, and telematics and cloud access for connectivity; and photonic components on various technology platforms, including fiber bragg gratings, low noise lasers, athermal and tunable packaging, photonic integration, and low noise and high-speed electronics for the laser systems, optical sensing, and optical communication markets.