General American Investors Co. Inc. Has $6.90 Million Position in indie Semiconductor, Inc. $INDI

General American Investors Co. Inc. grew its stake in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 14.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,954,849 shares of the company’s stock after buying an additional 250,000 shares during the period. General American Investors Co. Inc. owned approximately 0.89% of indie Semiconductor worth $6,901,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Evergreen Capital Management LLC acquired a new stake in indie Semiconductor during the second quarter valued at approximately $37,000. Gainplan LLC acquired a new stake in indie Semiconductor during the fourth quarter valued at approximately $39,000. Jump Financial LLC acquired a new stake in indie Semiconductor during the second quarter valued at approximately $39,000. CIBC Asset Management Inc acquired a new stake in indie Semiconductor during the fourth quarter valued at approximately $42,000. Finally, M&T Bank Corp acquired a new stake in indie Semiconductor during the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity at indie Semiconductor

In other indie Semiconductor news, President Ichiro Aoki sold 300,562 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $5.18, for a total value of $1,556,911.16. Following the transaction, the president directly owned 107,148 shares of the company’s stock, valued at approximately $555,026.64. This trade represents a 73.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michael Wittmann sold 39,645 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $4.80, for a total transaction of $190,296.00. Following the completion of the transaction, the chief operating officer directly owned 98,309 shares in the company, valued at approximately $471,883.20. The trade was a 28.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,943,552 shares of company stock valued at $8,766,645 over the last three months. 2.57% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on INDI shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a report on Tuesday, April 21st. Wall Street Zen raised indie Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. TD Cowen started coverage on indie Semiconductor in a report on Wednesday. They set a “hold” rating and a $4.00 price objective on the stock. Finally, UBS Group lifted their price objective on indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a report on Friday, May 8th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $6.19.

indie Semiconductor Price Performance

INDI opened at $4.10 on Friday. indie Semiconductor, Inc. has a one year low of $2.32 and a one year high of $6.05. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.11 and a quick ratio of 3.39. The company’s 50 day simple moving average is $4.01 and its 200-day simple moving average is $3.77. The stock has a market capitalization of $930.29 million, a P/E ratio of -5.39 and a beta of 2.73.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). indie Semiconductor had a negative net margin of 69.76% and a negative return on equity of 29.85%. The business had revenue of $55.46 million for the quarter, compared to analysts’ expectations of $55.09 million. During the same period in the prior year, the firm earned ($0.08) earnings per share. indie Semiconductor’s revenue was up 2.5% compared to the same quarter last year. Sell-side analysts anticipate that indie Semiconductor, Inc. will post -0.52 earnings per share for the current fiscal year.

indie Semiconductor Company Profile

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.