Squarepoint Ops LLC Acquires New Position in indie Semiconductor, Inc. (NASDAQ:INDI)

Squarepoint Ops LLC bought a new position in indie Semiconductor, Inc. (NASDAQ:INDI) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 347,083 shares of the company’s stock, valued at approximately $2,142,000.

A number of other institutional investors and hedge funds have also bought and sold shares of INDI. Marshall Wace LLP boosted its stake in shares of indie Semiconductor by 510.4% in the 2nd quarter. Marshall Wace LLP now owns 167,100 shares of the company’s stock valued at $1,031,000 after purchasing an additional 139,723 shares in the last quarter. Xponance Inc. purchased a new stake in indie Semiconductor during the second quarter valued at about $63,000. Sei Investments Co. boosted its position in indie Semiconductor by 72.3% during the second quarter. Sei Investments Co. now owns 215,128 shares of the company’s stock valued at $1,327,000 after buying an additional 90,266 shares during the period. Mutual of America Capital Management LLC grew its stake in shares of indie Semiconductor by 14.8% during the second quarter. Mutual of America Capital Management LLC now owns 486,252 shares of the company’s stock valued at $3,000,000 after buying an additional 62,770 shares during the last quarter. Finally, Primecap Management Co. CA increased its holdings in shares of indie Semiconductor by 93.5% in the second quarter. Primecap Management Co. CA now owns 15,779,119 shares of the company’s stock worth $97,357,000 after buying an additional 7,624,797 shares during the period. 67.73% of the stock is currently owned by institutional investors.

indie Semiconductor Price Performance

INDI opened at $3.84 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.20 and a current ratio of 2.66. The stock has a market capitalization of $717.17 million, a PE ratio of -7.84 and a beta of 1.20. The stock’s 50 day moving average price is $4.25 and its 200-day moving average price is $5.65. indie Semiconductor, Inc. has a 52-week low of $3.16 and a 52-week high of $8.69.

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

Insider Buying and Selling

In other indie Semiconductor news, CFO Thomas Schiller sold 75,000 shares of indie Semiconductor 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 sale, the chief financial officer now directly owns 977,192 shares of the company’s stock, valued at approximately $3,742,645.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 8.20% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently issued reports on INDI. Benchmark restated a “buy” rating and set a $12.00 price target on shares of indie Semiconductor in a research report on Tuesday, September 10th. Roth Mkm cut their target price 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. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of indie Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a report on Friday, August 9th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $10.50.

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.