272 Capital LP Invests $511,000 in indie Semiconductor, Inc. (NASDAQ:INDI)

272 Capital LP purchased a new stake in indie Semiconductor, Inc. (NASDAQ:INDI) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 128,021 shares of the company’s stock, valued at approximately $511,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its stake in shares of indie Semiconductor by 14.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 43,108 shares of the company’s stock valued at $306,000 after acquiring an additional 5,394 shares during the period. SG Americas Securities LLC acquired a new stake in indie Semiconductor in the 2nd quarter valued at $156,000. Tempus Wealth Planning LLC lifted its stake in shares of indie Semiconductor by 30.6% during the second quarter. Tempus Wealth Planning LLC now owns 22,353 shares of the company’s stock worth $138,000 after purchasing an additional 5,238 shares in the last quarter. Calamos Advisors LLC purchased a new stake in shares of indie Semiconductor in the second quarter worth about $478,000. Finally, Bank of New York Mellon Corp grew its stake in shares of indie Semiconductor by 24.2% in the second quarter. Bank of New York Mellon Corp now owns 643,273 shares of the company’s stock valued at $3,969,000 after buying an additional 125,158 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on INDI. Benchmark reduced their price target on indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Roth Mkm reduced their target price on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, indie Semiconductor has an average rating of “Buy” and a consensus target price of $8.92.

Insider Activity at indie Semiconductor

In other news, CEO Donald Mcclymont sold 200,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $4.71, for a total value of $942,000.00. Following the completion of the transaction, the chief executive officer now owns 18,351 shares of the company’s stock, valued at approximately $86,433.21. This represents a 91.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 8.20% of the stock is currently owned by insiders.

indie Semiconductor Price Performance

NASDAQ INDI opened at $4.49 on Friday. indie Semiconductor, Inc. has a one year low of $3.16 and a one year high of $8.69. The company has a 50-day simple moving average of $4.11 and a 200-day simple moving average of $4.93. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32.

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.