General American Investors Co. Inc. Has $6.94 Million Position in indie Semiconductor, Inc. $INDI

General American Investors Co. Inc. decreased its holdings in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 7.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,704,849 shares of the company’s stock after selling 142,072 shares during the period. General American Investors Co. Inc.’s holdings in indie Semiconductor were worth $6,939,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in INDI. Nisa Investment Advisors LLC increased its position in shares of indie Semiconductor by 356.3% during the second quarter. Nisa Investment Advisors LLC now owns 9,651 shares of the company’s stock worth $34,000 after acquiring an additional 7,536 shares in the last quarter. Ethic Inc. acquired a new position in indie Semiconductor during the 2nd quarter valued at about $36,000. Evergreen Capital Management LLC bought a new stake in indie Semiconductor during the 2nd quarter worth approximately $37,000. Jump Financial LLC bought a new stake in indie Semiconductor during the 2nd quarter worth approximately $39,000. Finally, Abel Hall LLC purchased a new stake in shares of indie Semiconductor in the second quarter worth approximately $41,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on INDI. UBS Group lifted their target price on indie Semiconductor from $4.50 to $5.00 and gave the company a “hold” rating in a research report on Monday, November 10th. Roth Mkm reaffirmed a “buy” rating and set a $8.00 price objective on shares of indie Semiconductor in a report on Wednesday, October 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a report on Thursday. Finally, Wall Street Zen cut shares of indie Semiconductor from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $6.60.

Insider Transactions at indie Semiconductor

In other indie Semiconductor news, CEO Donald Mcclymont sold 82,957 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $3.67, for a total transaction of $304,452.19. Following the sale, the chief executive officer directly owned 186,202 shares of the company’s stock, valued at $683,361.34. This represents a 30.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Ichiro Aoki sold 7,188 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $3.67, for a total transaction of $26,379.96. Following the transaction, the president owned 94,725 shares of the company’s stock, valued at $347,640.75. This represents a 7.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 733,734 shares of company stock valued at $2,827,441. 5.60% of the stock is currently owned by insiders.

indie Semiconductor Price Performance

Shares of NASDAQ INDI opened at $4.48 on Tuesday. The stock has a fifty day simple moving average of $3.93 and a two-hundred day simple moving average of $4.25. indie Semiconductor, Inc. has a 1-year low of $1.53 and a 1-year high of $6.05. The firm has a market cap of $983.94 million, a price-to-earnings ratio of -5.97 and a beta of 2.54. The company has a current ratio of 3.75, a quick ratio of 3.18 and a debt-to-equity ratio of 0.86.

indie Semiconductor (NASDAQ:INDI) last issued its earnings results on Thursday, November 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.01). indie Semiconductor had a negative net margin of 66.84% and a negative return on equity of 28.84%. The firm had revenue of $53.68 million during the quarter, compared to the consensus estimate of $53.98 million. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year. Analysts anticipate that indie Semiconductor, Inc. will post -0.54 earnings per share for the current year.

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.