indie Semiconductor, Inc. (NASDAQ:INDI) Holdings Trimmed by Wealth Effects LLC

Wealth Effects LLC cut its holdings in indie Semiconductor, Inc. (NASDAQ:INDI) by 37.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 106,700 shares of the company’s stock after selling 64,000 shares during the quarter. Wealth Effects LLC’s holdings in indie Semiconductor were worth $426,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of INDI. GAMMA Investing LLC grew its holdings in shares of indie Semiconductor by 1,743.8% in the 2nd quarter. GAMMA Investing LLC now owns 4,130 shares of the company’s stock worth $25,000 after acquiring an additional 3,906 shares during the last quarter. Financial Management Professionals Inc. acquired a new position in shares of indie Semiconductor in the 1st quarter valued at $53,000. Quent Capital LLC increased its stake in indie Semiconductor by 66.7% in the 1st quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock worth $71,000 after purchasing an additional 4,000 shares in the last quarter. Xponance Inc. acquired a new stake in indie Semiconductor during the 2nd quarter worth about $63,000. Finally, Legato Capital Management LLC purchased a new stake in indie Semiconductor during the second quarter valued at about $76,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on INDI shares. Deutsche Bank Aktiengesellschaft dropped their target price 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 reiterated a “buy” rating and set a $12.00 price objective on shares of indie Semiconductor in a research report on Tuesday, September 10th. Finally, Roth Mkm reduced their target price on indie Semiconductor from $10.00 to $7.00 and set a “buy” rating for the company in a report on Friday, August 9th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, indie Semiconductor has a consensus rating of “Buy” and an average price target of $10.50.

Insider Activity

In related news, CFO Thomas Schiller sold 75,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $3.83, for a total value of $287,250.00. Following the transaction, the chief financial officer now owns 977,192 shares in the company, valued at approximately $3,742,645.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 8.20% of the stock is owned by corporate insiders.

indie Semiconductor Stock Down 6.0 %

INDI stock traded down $0.22 during midday trading on Monday, reaching $3.45. The company had a trading volume of 1,027,503 shares, compared to its average volume of 2,701,574. The company has a 50 day moving average of $3.84 and a two-hundred day moving average of $5.40. The company has a current ratio of 2.66, a quick ratio of 2.20 and a debt-to-equity ratio of 0.31. indie Semiconductor, Inc. has a 1 year low of $3.16 and a 1 year high of $8.69. The company has a market capitalization of $681.10 million, a P/E ratio of -6.76 and a beta of 1.20.

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). indie Semiconductor had a negative return on equity of 22.48% and a negative net margin of 34.65%. The business had revenue of $52.40 million during the quarter, compared to analyst estimates of $53.61 million. During the same period last year, the company earned ($0.11) earnings per share. indie Semiconductor’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities research analysts expect that indie Semiconductor, Inc. will post -0.7 earnings per share for the current fiscal year.

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.