Squarepoint Ops LLC Acquires Shares of 347,083 indie Semiconductor, Inc. (NASDAQ:INDI)

Squarepoint Ops LLC bought a new stake in indie Semiconductor, Inc. (NASDAQ:INDI) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 347,083 shares of the company’s stock, valued at approximately $2,142,000. Squarepoint Ops LLC owned 0.19% of indie Semiconductor at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Primecap Management Co. CA raised its stake in indie Semiconductor by 93.5% in the 2nd quarter. Primecap Management Co. CA now owns 15,779,119 shares of the company’s stock valued at $97,357,000 after acquiring an additional 7,624,797 shares during the period. Granahan Investment Management LLC increased its stake in shares of indie Semiconductor by 63.3% in the fourth quarter. Granahan Investment Management LLC now owns 13,194,588 shares of the company’s stock worth $107,008,000 after purchasing an additional 5,115,393 shares in the last quarter. Bamco Inc. NY raised its position in shares of indie Semiconductor by 28.0% in the first quarter. Bamco Inc. NY now owns 14,285,896 shares of the company’s stock valued at $101,144,000 after purchasing an additional 3,121,255 shares during the period. Intrinsic Edge Capital Management LLC lifted its stake in shares of indie Semiconductor by 132.5% during the 4th quarter. Intrinsic Edge Capital Management LLC now owns 2,893,484 shares of the company’s stock valued at $23,466,000 after buying an additional 1,648,818 shares in the last quarter. Finally, Frontier Capital Management Co. LLC boosted its holdings in indie Semiconductor by 40.4% in the 4th quarter. Frontier Capital Management Co. LLC now owns 3,138,449 shares of the company’s stock worth $25,453,000 after buying an additional 902,530 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on INDI. Benchmark reissued a “buy” rating and set a $12.00 target price on shares of indie Semiconductor in a report on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft decreased their price objective on indie Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, Roth Mkm cut their target price on indie Semiconductor from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, indie Semiconductor currently has an average rating of “Buy” and an average target price of $10.50.

indie Semiconductor Trading Down 3.0 %

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

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.09) earnings per share for the quarter, meeting 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 firm had revenue of $52.40 million for the quarter, compared to analysts’ expectations of $53.61 million. During the same quarter last year, the firm posted ($0.11) EPS. The company’s revenue was up .6% compared to the same quarter last year. On average, equities research analysts anticipate that indie Semiconductor, Inc. will post -0.7 EPS for the current fiscal year.

Insider Buying and Selling at indie Semiconductor

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

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.