B. Riley Wealth Advisors Inc. Purchases Shares of 17,000 indie Semiconductor, Inc. (NASDAQ:INDI)

B. Riley Wealth Advisors Inc. acquired a new position in indie Semiconductor, Inc. (NASDAQ:INDI) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 17,000 shares of the company’s stock, valued at approximately $105,000.

Several other institutional investors have also modified their holdings of INDI. GAMMA Investing LLC grew its position 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 buying an additional 3,906 shares during the last quarter. Financial Management Professionals Inc. acquired a new stake in shares of indie Semiconductor during the first quarter worth $53,000. Newbridge Financial Services Group Inc. lifted its holdings in shares of indie Semiconductor by 40.8% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 6,900 shares of the company’s stock valued at $56,000 after purchasing an additional 2,000 shares during the last quarter. Xponance Inc. acquired a new position in shares of indie Semiconductor in the 2nd quarter valued at $63,000. Finally, Quent Capital LLC boosted its position in shares of indie Semiconductor by 66.7% in the 1st quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock valued at $71,000 after purchasing an additional 4,000 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity at indie Semiconductor

In related news, CFO Thomas Schiller sold 75,000 shares of the firm’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 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have commented on INDI. Benchmark reaffirmed a “buy” rating and set a $12.00 price objective on shares of indie Semiconductor in a research note on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of indie Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, 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 research note on Friday, August 9th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, indie Semiconductor currently has a consensus rating of “Buy” and a consensus price target of $10.50.

indie Semiconductor Stock Down 1.1 %

INDI stock opened at $3.67 on Friday. The company has a 50 day moving average of $3.99 and a two-hundred day moving average of $5.54. The company has a market cap of $724.53 million, a price-to-earnings ratio of -7.49 and a beta of 1.20. indie Semiconductor, Inc. has a 12-month low of $3.16 and a 12-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.

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

indie Semiconductor 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.