2,830,580 Shares in indie Semiconductor, Inc. (NASDAQ:INDI) Bought by Hood River Capital Management LLC

Hood River Capital Management LLC acquired a new position in shares of indie Semiconductor, Inc. (NASDAQ:INDI) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,830,580 shares of the company’s stock, valued at approximately $29,863,000. Hood River Capital Management LLC owned 1.77% of indie Semiconductor at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Point72 Middle East FZE bought a new stake in shares of indie Semiconductor during the 4th quarter worth $28,000. UBS Group AG boosted its holdings in shares of indie Semiconductor by 384.8% during the 3rd quarter. UBS Group AG now owns 3,849 shares of the company’s stock worth $29,000 after buying an additional 3,055 shares during the period. US Bancorp DE boosted its holdings in shares of indie Semiconductor by 3,932.6% during the 1st quarter. US Bancorp DE now owns 3,589 shares of the company’s stock worth $38,000 after buying an additional 3,500 shares during the period. LPL Financial LLC bought a new stake in shares of indie Semiconductor during the 2nd quarter worth $58,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of indie Semiconductor during the 2nd quarter worth $58,000. 62.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

INDI has been the subject of several recent analyst reports. Benchmark reaffirmed a “buy” rating and set a $17.00 price objective on shares of indie Semiconductor in a report on Friday, August 11th. B. Riley reduced their price target on shares of indie Semiconductor from $16.00 to $15.50 and set a “buy” rating for the company in a report on Friday, August 11th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of indie Semiconductor from $15.00 to $12.00 and set a “buy” rating for the company in a report on Friday, August 11th. Finally, Craig Hallum reduced their price target on shares of indie Semiconductor from $14.00 to $12.00 and set a “buy” rating for the company in a report on Friday, August 11th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $13.70.

indie Semiconductor Price Performance

NASDAQ:INDI opened at $6.52 on Friday. The company has a 50-day moving average of $8.14 and a 200-day moving average of $9.00. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -5.93 and a beta of 0.86. indie Semiconductor, Inc. has a 52 week low of $5.66 and a 52 week high of $11.12. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.29 and a current ratio of 2.68.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings data on Thursday, August 10th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). The business had revenue of $52.11 million for the quarter, compared to the consensus estimate of $51.98 million. indie Semiconductor had a negative return on equity of 17.49% and a negative net margin of 91.08%. As a group, equities research analysts anticipate that indie Semiconductor, Inc. will post -0.61 earnings per share for the current fiscal year.

Insider Transactions at indie Semiconductor

In other news, Director Sonalee Elizabeth Parekh sold 19,000 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $10.61, for a total transaction of $201,590.00. Following the completion of the transaction, the director now directly owns 31,000 shares of the company’s stock, valued at approximately $328,910. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Thomas Schiller sold 40,000 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $8.77, for a total transaction of $350,800.00. Following the completion of the sale, the chief financial officer now owns 1,151,280 shares in the company, valued at approximately $10,096,725.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sonalee Elizabeth Parekh sold 19,000 shares of the stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $10.61, for a total transaction of $201,590.00. Following the sale, the director now owns 31,000 shares of the company’s stock, valued at approximately $328,910. The disclosure for this sale can be found here. In the last three months, insiders sold 189,000 shares of company stock valued at $1,882,490. Company insiders own 9.90% of the company’s stock.

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, rest of Asia Pacific, and Europe.