General American Investors Co. Inc. Acquires 250,000 Shares of indie Semiconductor, Inc. $INDI

General American Investors Co. Inc. raised its holdings in indie Semiconductor, Inc. (NASDAQ:INDI) by 14.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,954,849 shares of the company’s stock after acquiring an additional 250,000 shares during the quarter. General American Investors Co. Inc.’s holdings in indie Semiconductor were worth $6,901,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Tudor Investment Corp ET AL acquired a new stake in shares of indie Semiconductor during the third quarter worth $22,385,000. Millennium Management LLC increased its stake in indie Semiconductor by 456.6% in the 1st quarter. Millennium Management LLC now owns 3,702,671 shares of the company’s stock valued at $7,535,000 after buying an additional 3,037,435 shares during the last quarter. Handelsbanken Fonder AB increased its stake in indie Semiconductor by 117.0% in the 4th quarter. Handelsbanken Fonder AB now owns 3,428,175 shares of the company’s stock valued at $12,101,000 after buying an additional 1,848,489 shares during the last quarter. Wasatch Advisors LP acquired a new stake in indie Semiconductor in the 4th quarter valued at $5,849,000. Finally, Vanguard Group Inc. increased its stake in indie Semiconductor by 9.6% in the 3rd quarter. Vanguard Group Inc. now owns 15,283,185 shares of the company’s stock valued at $62,203,000 after buying an additional 1,334,145 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

INDI has been the topic of several recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a research note on Tuesday, April 21st. UBS Group lifted their price target on shares of indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a research note on Friday, May 8th. Wall Street Zen upgraded shares of indie Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, TD Cowen initiated coverage on shares of indie Semiconductor in a research note on Wednesday. They issued a “hold” rating and a $4.00 price target on the stock. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $6.19.

indie Semiconductor Stock Performance

Shares of INDI opened at $4.10 on Friday. The firm has a 50-day moving average of $4.01 and a 200-day moving average of $3.77. indie Semiconductor, Inc. has a one year low of $2.32 and a one year high of $6.05. The company has a market cap of $930.29 million, a PE ratio of -5.39 and a beta of 2.73. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.11 and a quick ratio of 3.39.

indie Semiconductor (NASDAQ:INDI) last announced its earnings results on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, hitting the consensus estimate of ($0.06). The business had revenue of $55.46 million during the quarter, compared to the consensus estimate of $55.09 million. indie Semiconductor had a negative net margin of 69.76% and a negative return on equity of 29.85%. indie Semiconductor’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.08) EPS. As a group, equities analysts forecast that indie Semiconductor, Inc. will post -0.52 earnings per share for the current year.

Insider Activity at indie Semiconductor

In related news, President Ichiro Aoki sold 300,562 shares of indie Semiconductor stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $5.18, for a total transaction of $1,556,911.16. Following the completion of the sale, the president owned 107,148 shares of the company’s stock, valued at approximately $555,026.64. The trade was a 73.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Donald Mcclymont sold 9,425 shares of indie Semiconductor stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $5.12, for a total transaction of $48,256.00. Following the sale, the chief executive officer directly owned 307,363 shares of the company’s stock, valued at $1,573,698.56. The trade was a 2.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 1,943,552 shares of company stock worth $8,766,645. 2.57% of the stock is currently owned by corporate insiders.

About indie Semiconductor

indie Semiconductor, Inc is a fabless semiconductor company headquartered in San Jose, California, that specializes in advanced chip solutions for the automotive industry. The company designs and develops microcontrollers, sensor processing units, application processors and power management integrated circuits tailored for electric vehicles (EVs), advanced driver assistance systems (ADAS), infotainment and digital clusters. indie’s product portfolio aims to deliver high performance, energy efficiency and functional safety to meet stringent automotive requirements.

Originally formed as Integrated Memory Systems in 2021 through a business combination with a special purpose acquisition company, the firm rebranded to indie Semiconductor in early 2022.