Rhumbline Advisers Raises Stock Holdings in indie Semiconductor, Inc. (NASDAQ:INDI)

Rhumbline Advisers lifted its stake in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 25.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 242,841 shares of the company’s stock after acquiring an additional 48,876 shares during the period. Rhumbline Advisers’ holdings in indie Semiconductor were worth $1,498,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. GAMMA Investing LLC lifted its stake in indie Semiconductor by 1,743.8% in the second quarter. GAMMA Investing LLC now owns 4,130 shares of the company’s stock worth $25,000 after purchasing an additional 3,906 shares during the last quarter. Financial Management Professionals Inc. purchased a new stake in indie Semiconductor in the first quarter worth about $53,000. Newbridge Financial Services Group Inc. grew its holdings in indie Semiconductor by 40.8% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 6,900 shares of the company’s stock worth $56,000 after purchasing an additional 2,000 shares during the period. Quent Capital LLC grew its holdings in shares of indie Semiconductor by 66.7% during the first quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock valued at $71,000 after buying an additional 4,000 shares during the last quarter. Finally, Legato Capital Management LLC purchased a new stake in shares of indie Semiconductor during the second quarter valued at approximately $76,000. 67.73% of the stock is owned by institutional investors.

indie Semiconductor Stock Performance

indie Semiconductor stock opened at $3.63 on Friday. indie Semiconductor, Inc. has a twelve month low of $3.16 and a twelve month high of $8.69. The company has a quick ratio of 2.20, a current ratio of 2.66 and a debt-to-equity ratio of 0.31. The company’s 50-day moving average price is $4.70 and its 200-day moving average price is $5.81. The company has a market cap of $677.95 million, a PE ratio of -7.41 and a beta of 1.20.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.09) EPS for the quarter, hitting analysts’ consensus estimates of ($0.09). The firm had revenue of $52.40 million during the quarter, compared to analysts’ expectations of $53.61 million. indie Semiconductor had a negative net margin of 34.65% and a negative return on equity of 22.48%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.11) EPS. On average, equities research analysts forecast that indie Semiconductor, Inc. will post -0.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on INDI. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of indie Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Benchmark restated a “buy” rating and set a $12.00 target price on shares of indie Semiconductor in a research note on Tuesday, September 10th. Finally, Roth Mkm reduced their price target on shares of indie Semiconductor from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $10.50.

Insider Buying and Selling at indie Semiconductor

In other news, CFO Thomas Schiller sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $3.83, for a total value of $287,250.00. Following the completion of the sale, the chief financial officer now owns 977,192 shares of the company’s stock, valued at approximately $3,742,645.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, President Ichiro Aoki sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $6.14, for a total transaction of $307,000.00. Following the completion of the transaction, the president now owns 36,631 shares in the company, valued at approximately $224,914.34. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Thomas Schiller sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $3.83, for a total transaction of $287,250.00. Following the transaction, the chief financial officer now owns 977,192 shares of the company’s stock, valued at approximately $3,742,645.36. The disclosure for this sale can be found here. Insiders sold a total of 130,260 shares of company stock valued at $618,514 in the last three months. Company insiders own 8.20% of the company’s stock.

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.