Advisors Asset Management Inc. Grows Stock Position in indie Semiconductor, Inc. (NASDAQ:INDI)

Advisors Asset Management Inc. raised its position in indie Semiconductor, Inc. (NASDAQ:INDI) by 115.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,392 shares of the company’s stock after acquiring an additional 32,353 shares during the quarter. Advisors Asset Management Inc.’s holdings in indie Semiconductor were worth $241,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Bouvel Investment Partners LLC grew its holdings in indie Semiconductor by 33.2% during the 3rd quarter. Bouvel Investment Partners LLC now owns 186,119 shares of the company’s stock valued at $743,000 after purchasing an additional 46,400 shares in the last quarter. General American Investors Co. Inc. grew its stake in shares of indie Semiconductor by 46.5% during the third quarter. General American Investors Co. Inc. now owns 1,347,393 shares of the company’s stock valued at $5,376,000 after acquiring an additional 427,928 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in shares of indie Semiconductor by 290.6% during the third quarter. Harbor Capital Advisors Inc. now owns 3,195,910 shares of the company’s stock worth $12,752,000 after acquiring an additional 2,377,612 shares during the last quarter. Tempus Wealth Planning LLC lifted its stake in shares of indie Semiconductor by 61.6% in the third quarter. Tempus Wealth Planning LLC now owns 36,121 shares of the company’s stock worth $144,000 after acquiring an additional 13,768 shares in the last quarter. Finally, Creative Planning purchased a new position in indie Semiconductor in the third quarter valued at about $75,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling at indie Semiconductor

In related news, CEO Donald Mcclymont sold 200,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 18,351 shares of the company’s stock, valued at $86,433.21. This represents a 91.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas Schiller sold 75,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $3.83, for a total transaction of $287,250.00. Following the sale, the chief financial officer now owns 977,192 shares in the company, valued at approximately $3,742,645.36. This trade represents a 7.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 278,531 shares of company stock worth $1,242,915 over the last 90 days. Insiders own 8.20% of the company’s stock.

Analyst Upgrades and Downgrades

INDI has been the topic of several analyst reports. Benchmark dropped their price objective on indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Roth Mkm dropped their price target on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of indie Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, indie Semiconductor presently has an average rating of “Buy” and an average target price of $9.79.

indie Semiconductor Stock Performance

INDI stock opened at $5.03 on Friday. The stock’s 50 day simple moving average is $3.97 and its 200 day simple moving average is $5.05. indie Semiconductor, Inc. has a 12-month low of $3.16 and a 12-month high of $8.69. The firm has a market cap of $1.02 billion, a P/E ratio of -7.51 and a beta of 1.22. The company has a current ratio of 2.39, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32.

About indie Semiconductor

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.