SlateStone Wealth LLC Buys Shares of 13,261 indie Semiconductor, Inc. (NASDAQ:INDI)

SlateStone Wealth LLC purchased a new position in indie Semiconductor, Inc. (NASDAQ:INDI) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,261 shares of the company’s stock, valued at approximately $82,000.

A number of other hedge funds have also made changes to their positions in the stock. Granahan Investment Management LLC increased its stake in indie Semiconductor by 63.3% in the 4th quarter. Granahan Investment Management LLC now owns 13,194,588 shares of the company’s stock valued at $107,008,000 after buying an additional 5,115,393 shares during the period. Bamco Inc. NY grew its holdings in shares of indie Semiconductor by 28.0% during the 1st quarter. Bamco Inc. NY now owns 14,285,896 shares of the company’s stock valued at $101,144,000 after acquiring an additional 3,121,255 shares in the last quarter. Intrinsic Edge Capital Management LLC increased its stake in shares of indie Semiconductor by 132.5% in the fourth quarter. Intrinsic Edge Capital Management LLC now owns 2,893,484 shares of the company’s stock worth $23,466,000 after acquiring an additional 1,648,818 shares during the last quarter. UBS Group AG raised its holdings in shares of indie Semiconductor by 4,346.7% during the fourth quarter. UBS Group AG now owns 1,484,697 shares of the company’s stock worth $12,041,000 after acquiring an additional 1,451,308 shares in the last quarter. Finally, Frontier Capital Management Co. LLC boosted its position in indie Semiconductor by 40.4% during the fourth quarter. Frontier Capital Management Co. LLC now owns 3,138,449 shares of the company’s stock valued at $25,453,000 after purchasing an additional 902,530 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, President Ichiro Aoki sold 75,000 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $7.09, for a total transaction of $531,750.00. Following the completion of the transaction, the president now owns 36,631 shares of the company’s stock, valued at approximately $259,713.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other indie Semiconductor news, President Ichiro Aoki sold 75,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $7.09, for a total value of $531,750.00. Following the completion of the sale, the president now owns 36,631 shares in the company, valued at approximately $259,713.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sonalee Elizabeth Parekh sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $7.58, for a total value of $75,800.00. Following the sale, the director now owns 75,185 shares in the company, valued at $569,902.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 288,351 shares of company stock valued at $1,892,205. 8.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on INDI shares. Roth Mkm reduced their price target on indie Semiconductor from $10.00 to $7.00 and set a “buy” rating for the company in a report on Friday, August 9th. B. Riley reissued a “buy” rating and issued a $13.50 target price (down from $14.50) on shares of indie Semiconductor in a research report on Friday, May 10th. KeyCorp dropped their price target on shares of indie Semiconductor from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. Finally, Deutsche Bank Aktiengesellschaft reduced 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. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, indie Semiconductor currently has an average rating of “Buy” and an average target price of $11.21.

indie Semiconductor Trading Up 3.2 %

Shares of INDI stock opened at $4.22 on Tuesday. indie Semiconductor, Inc. has a 12 month low of $3.91 and a 12 month high of $8.69. The company has a market cap of $833.11 million, a PE ratio of -8.61 and a beta of 1.22. 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 business’s 50 day moving average is $5.65 and its two-hundred day moving average is $6.21.

indie Semiconductor (NASDAQ:INDI) last posted 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 the consensus estimate of $53.61 million. indie Semiconductor had a negative net margin of 34.65% and a negative return on equity of 22.48%. indie Semiconductor’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.11) EPS. Equities analysts predict that indie Semiconductor, Inc. will post -0.7 EPS for the current year.

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.