Legato Capital Management LLC Acquires 6,570 Shares of indie Semiconductor, Inc. (NASDAQ:INDI)

Legato Capital Management LLC lifted its holdings in indie Semiconductor, Inc. (NASDAQ:INDI) by 47.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,285 shares of the company’s stock after acquiring an additional 6,570 shares during the period. Legato Capital Management LLC’s holdings in indie Semiconductor were worth $82,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in INDI. Primecap Management Co. CA lifted its stake in indie Semiconductor by 61.4% in the third quarter. Primecap Management Co. CA now owns 25,468,445 shares of the company’s stock worth $101,619,000 after purchasing an additional 9,689,326 shares during the last quarter. Artemis Investment Management LLP lifted its stake in indie Semiconductor by 482.7% in the fourth quarter. Artemis Investment Management LLP now owns 6,539,694 shares of the company’s stock worth $26,486,000 after purchasing an additional 5,417,296 shares during the last quarter. Elemental Capital Partners LLC bought a new stake in indie Semiconductor in the fourth quarter worth about $14,272,000. Harbor Capital Advisors Inc. lifted its stake in indie Semiconductor by 290.6% in the third quarter. Harbor Capital Advisors Inc. now owns 3,195,910 shares of the company’s stock worth $12,752,000 after purchasing an additional 2,377,612 shares during the last quarter. Finally, Harber Asset Management LLC bought a new stake in indie Semiconductor in the third quarter worth about $3,406,000. Institutional investors own 67.73% of the company’s stock.

indie Semiconductor Stock Performance

Shares of NASDAQ:INDI opened at $3.86 on Friday. The firm has a market cap of $779.41 million, a PE ratio of -5.76 and a beta of 1.41. The firm’s 50 day simple moving average is $4.22 and its 200-day simple moving average is $4.14. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.39. indie Semiconductor, Inc. has a one year low of $3.16 and a one year high of $7.82.

Insider Activity at indie Semiconductor

In related news, CEO Donald Mcclymont sold 50,000 shares of indie Semiconductor stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $4.31, for a total transaction of $215,500.00. Following the transaction, the chief executive officer now directly owns 18,351 shares of the company’s stock, valued at $79,092.81. This trade represents a 73.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Michael Wittmann sold 18,375 shares of indie Semiconductor stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $4.10, for a total transaction of $75,337.50. Following the transaction, the chief operating officer now directly owns 28,860 shares in the company, valued at approximately $118,326. The trade was a 38.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,593 shares of company stock valued at $330,291 over the last ninety days. 8.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on INDI shares. Roth Mkm decreased their price objective 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. UBS Group began coverage on shares of indie Semiconductor in a research report on Friday, January 24th. They set a “neutral” rating and a $4.50 target price on the stock. Finally, Benchmark reduced their target price on shares of indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, indie Semiconductor has a consensus rating of “Moderate Buy” and a consensus target price of $8.29.

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.