MIG Capital LLC Invests $323,000 in indie Semiconductor, Inc. (NASDAQ:INDI)

MIG Capital LLC purchased a new position in shares of indie Semiconductor, Inc. (NASDAQ:INDI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 79,751 shares of the company’s stock, valued at approximately $323,000.

Several other institutional investors have also bought and sold shares of the stock. National Bank of Canada FI lifted its position in shares of indie Semiconductor by 42.7% during the fourth quarter. National Bank of Canada FI now owns 13,452 shares of the company’s stock valued at $54,000 after purchasing an additional 4,023 shares in the last quarter. Virtu Financial LLC bought a new position in shares of indie Semiconductor in the third quarter valued at approximately $58,000. Daiwa Securities Group Inc. increased its position in shares of indie Semiconductor by 74.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 14,897 shares of the company’s stock valued at $60,000 after acquiring an additional 6,363 shares during the last quarter. Cibc World Markets Corp bought a new stake in indie Semiconductor during the fourth quarter worth $62,000. Finally, Wedbush Securities Inc. purchased a new position in indie Semiconductor in the fourth quarter worth $65,000. Institutional investors own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

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

indie Semiconductor Stock Performance

NASDAQ INDI opened at $1.60 on Friday. The firm has a market cap of $323.07 million, a P/E ratio of -2.11 and a beta of 1.84. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average is $3.11 and its 200-day moving average is $3.77. indie Semiconductor, Inc. has a 12-month low of $1.56 and a 12-month high of $7.82.

indie Semiconductor (NASDAQ:INDI) last issued its earnings results on Thursday, February 20th. The company reported ($0.15) earnings per share (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 business had revenue of $58.01 million for the quarter, compared to the consensus estimate of $58.20 million. Sell-side analysts predict that indie Semiconductor, Inc. will post -0.54 earnings per share for the current year.

Insider Buying and Selling at indie Semiconductor

In other news, COO Michael Wittmann sold 10,875 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $2.81, for a total transaction of $30,558.75. Following the completion of the transaction, the chief operating officer now directly owns 77,887 shares in the company, valued at $218,862.47. The trade was a 12.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Donald Mcclymont sold 50,000 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $3.12, for a total value of $156,000.00. Following the completion of the sale, the chief executive officer now owns 65,932 shares in the company, valued at $205,707.84. This trade represents a 43.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 148,289 shares of company stock valued at $443,668 in the last quarter. 8.20% of the stock is currently owned by corporate insiders.

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.